The role of luxury brands is enlarging and is questioned, per se. They were relevant as a product, then as a producer of content, but now more and more as broadcasters and amplifiers of content and interactions that are relevant for the consumers. By 2030, this industry will be drastically transformed. We will not talk about luxury industry anymore, but of the market for insurgent cultural and creative excellence.
A compelling overview of the evolution of luxury by Claudia D’Arpizio, partner at Bain & Company [link here]
The future looks interesting:
- the shift suggested by D’Arpizio will expect luxury brands to boost their “soft power,” i.e. their ability to lead the creative and cultural discourse.
- what if companies started exploring the opportunities of “insurgent cultural and creative excellence”? How would this change their operations of product/service design? How would this change their content delivery and the interaction with their consumers?