GENERATION Z

I WILL CONTINUE TO AIM MY TREND AT THE LUXURY MARKET. BY 2030, GENERATION Z WILL BECOME THE MOST INFLUENTIAL LUXURY CONSUMER GROUP WORLDWIDE (LANGER, 2020). CHINA IS THE WORLD’S FASTEST-GROWING LUXURY MARKET TODAY. IT IS ALSO THE YOUNGEST AND MOST DIGITAL, WITH GEN Z ALREADY CONTRIBUTING UP TO 15% OF THE COUNTRY’S LUXURY PURCHASES AS OF 2021, AND THAT NUMBER IS ONLY GROWING (LANGER, 2021). WHILE MANY LUXURY BRANDS ARE SUFFERING, OTHER BRANDS LIKE LOUIS VUITTON HAVE BEEN PERFORMING WELL, SUGGESTING THAT THE PANDEMIC IS HITTING BRANDS THE HARDEST WITH PRE-EXISTING ISSUES.

DIGITAL STORYTELLING IS HOW LUXURY BRANDS HAVE CONTINUED TO STAY RELEVANT IN THE DIGITAL AGE OF THE PANDEMIC. LOUIS VUITTON, FOR INSTANCE, IS A FANTASTIC EXAMPLE OF A LUXURY BRAND USING THE PANDEMIC AS AN OPPORTUNITY TO EMBRACE FUTURISTIC STORYTELLING WITH ITS ANIMATED SHORT FILM “ZOOOOM WITH FRIENDS” FOR DIGITAL PARIS FASHION WEEK AS A PRELUDE TO THE MEN’S SS21 SHOW (MASRANI, 2020).

GUCCI IS ANOTHER EXAMPLE OF A LUXURY BRAND THAT HAS SUCCESSFULLY CONNECTED WITH ITS YOUNG CONSUMERS BY EMBRACING RESALE WITH ITS RECENT PARTNERSHIP WITH THE REALREAL.

4. MOVING FORWARD, LUXURY BRANDS WILL CONTINUE TO EMBRACE DIGITAL PLATFORMS IN INVENTIVE NEW WAYS FOR THE FUTURE, WITH AREAS SUCH AS VISUAL VIRTUAL MERCHANDISING, INTERACTIVE FILM, VIRTUAL INTERACTIVE DISPLAY, AND GAMING TO OFFER THEIR CONSUMERS AN IMMERSIVE AND PERSONALISED EXPERIENCE.