The French luxury observatory, developed in collaboration with consulting agency Nelly Rodi, aims to provide a visionary outlook on the evolving trends and changes in the fashion and luxury sector. It focuses on understanding the codes of desirability in French luxury and identifying the new aspirations and expectations of consumers. The observatory supports editorial, marketing, and advertising efforts in the luxury industry.
In terms of luxury desirability, luxury houses are facing new challenges despite the favorable economic conditions. Consumer buying behaviors are changing, and digitalization is becoming increasingly important for attracting new clientele. The luxury industry is undergoing a significant transformation driven by digitalization, hybridization, and the importance of emotions. Three key drivers of luxury desirability have been identified: the need for meaning and responsibility, the expectation of a personalized luxury experience through digital innovation, and a more lifestyle-oriented dimension with an emphasis on artistic and pop culture influences.
Looking ahead to 2023, the specificities of French luxury lie in the appreciation of artisanal know-how and the preservation of traditional crafts. Luxury houses draw inspiration from their rich heritage and aesthetic codes, showcasing their creativity in their creations. French luxury also stands out in its fusion of art, tradition, and avant-garde, embodying a unique way of life and attitude. The emergence of a creative dialogue between luxury brands and influences from pop culture, music, and art is evident. Prisma Media’s launch of Harper’s Bazaar in France aims to promote French creation, culture, and spirit through various creative professionals.
The key takeaways for luxury houses include recognizing that luxury is now seen as a hybrid cultural and lifestyle industry. Focusing on transmitting emotions and committing to strong values is crucial. Offering personalized experiences, pleasure, and entertainment are essential to meet the expectations of today’s consumers. Keeping up with innovative technologies is also vital for staying ahead in the industry.
Useful links:
– Prisma Media Solutions
– Nelly Rodi Consulting Agency
