In the post-COVID-19 era, the role of Digitally Native Vertical Brands (DNVBs) is becoming increasingly significant. These agile brands have the ability to fragment markets and offer high-quality products at fair prices. Sébastien Tortu, an author and marketing consultant, emphasizes their success lies in their ability to understand and meet customer expectations.
However, one challenge that DNVBs face is the proliferation of copy-paste actions, which can cloud market visibility. This issue highlights the need for large retailers to find ways to compete with these young gems. Firms like Target, Amazon, and Decathlon have responded by launching their own DNVB models. This shift in competition has led to a change in the paradigm, as DNVBs have successfully reinvented physical retail. They have transformed stores into discovery channels, allowing brands to gather valuable customer data.
The emergence of the coronavirus has also impacted DNVBs. While 2020 was expected to be a year of profitability, the focus on essential products has affected “pleasure” brands. DNVBs must now reinvent themselves and rethink their retail strategies, particularly in terms of the selling space. Sébastien Tortu emphasizes that success lies in a combination of new technologies and experiential retail.
The COVID-19 pandemic has reshuffled the cards for all retailers and put them in danger. DNVBs must not only reinvent the rules once but continuously adapt to the changing landscape. The importance of the brand becomes paramount, as it will be the most valuable asset for companies. Sébastien Tortu questions what products DNVBs will offer in the future, highlighting the need for constant innovation.
To gain a deeper understanding of DNVBs and the evolving retail landscape, you can watch Sébastien Tortu’s full intervention on the Luxury Salon Paris platform.
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