New York Fashion Week – Opening The Floor For Seasonal Trends By The Luxury Channel
With the fashion world opening its door for the annual New York Fashion Week to parade the latest trends and styles of the season, shoppers are becoming more digitally savvy and taking a front row seat at the click of a button. NYFW attracts A-listers, industry insiders and shoppers alike, who are all able to view a livestream of the catwalk. Consumers are immediately engaged via multiple platforms, as the week highlights how luxury brands are beginning to see the value of utilising both online and offline services to reach customers.
As part of this trend, Fashion Week has made an online presence on social media, bringing the world of luxury fashion closer to the customers. While Instagram provides polished and refined images, SnapChat offers a raw glimpse behind-the-scenes of shows, allowing users to get exclusive access to top brands. Luxury brands need to explore the value of social media to strength relationships with customers. Burberry is leading the way in this regard, with investment of over 60% of their marketing budget on digital. But while Burberry paves the way for luxury brands, others are still struggling to grasp the significant impact engaging with customers online and offline will have on their brands.
“Brands should not consider each channel as separate, but simultaneously valuable to the overall omni-channel experience,” Senior Advisor of Contactlab, Marco Pozzi, said. “Customers want ease and comfort and so if they find a product on one channel, they should be able to seamlessly navigate through the purchasing process with convenience. This is why it is important that brands do not disconnect the different channels, but connect the dots as part of their customer engagement strategy.”
Contactlab found in their Digital Frontier 2016 Study that customers with a digital presence who are digitally contactable are high spenders in-store, accounting for 27% of in-store revenue and 73% of e-commerce revenue. With the rise of e-commerce and digital engagement tools, luxury brands have access to customer data which will allow them to create a dynamic and personalised approach, integrating people preferences within customer interactions. Through data-driven marketing, brands are able to create a richer understanding of their customers.
Marco Pozzi continues: “We now live in a world where everything is captured digitally through various platforms and the fashion world is no exception. Fashion shows unfold live from SnapChat, Facebook, Twitter and Instagram feeds. This narrows the gap between the consumer and brands, opening up a relationship which is more personalised. Shoppers now crave interaction with brands who understand their needs, preferences and expectations. Feeding in insights from consumer data can help brands enhance their relationship with customers and make informed decisions for their marketing strategies.”