Luxury 4.0 is primarily associated with the technological shifts of Industry 4.0, especially the disruption sparked by digitalization.
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Direct to consumer, also known as DTC or D2C, is an eCommerce strategy which enables manufacturers and brands to sell directly to consumers, without passing through the reseller or retailer.
Behind the rise of sneaker culture stands a billion dollar industry. In this article we will talk about what you can do as a marketer to take advantage of this opportunity.
Many luxury fashion houses are interested in NFTs. Big players like Gucci and Nike have already jumped into the game, while smaller luxury brands are even more aggressive.
The point of app developing and app marketing wasn’t only to create another direct-to-consumer channel, but also to generate a different brand-consumer interaction.
This industry has enjoyed strong growth in the past years prior to the pandemic. According to Allied Market Research, the global market size was assessed at $380.2 billion in 2019, and it was expected to continue developing at a 5.3% CAGR, reaching $463.5 billion by 2027.
Artificial intelligence refers to the simulation of human intelligence in machines, which are designed and programmed to think like humans and mimic their actions, focusing on elements like speech recognition, problem-solving, learning and planning.
Farfetch’s digital strategy is place a bet on digital luxury, considering the industry a blue ocean, contributing to the overall digitization of the industry, and growing alongside it.
To conclude, it is suggested to provide AI based services firstly in the physical stores in order to solve this trust issue for clients and then expand to other channels like official websites or social media if it applies.