A study led by Volvo on sustainable luxury has brought up striking conclusions: 6 out of 10 French citizens feel concerned by environmental issues and yet, 20% of them feel it’s too ” restrictive” for them to change their daily routine… for the sake of a sustainable future!
©en.paperblog
The study also showed that besides luxury’s classic definition (heritage, craftsmanship, exclusivity), what consumers seek – especially early adopters – today is the brands environmental engagement as well as state of the art technology and innovation. Some spearheads already jumped on that wagon by offering eco-friendly disruptive products such as ecological Champaign or planes fueled by coconut oil ! Surprisingly, the automobile industry is among the leaders of this contemporary approach of luxury – also know as luxury 3.0 (Tesla).
©inhabitat.com ; tesla
High tech is the ultimate luxury
Apple’s iPads and iPhones are the first items to pop into one’s mind when thinking innovative and high-end. And yet high-tech is no digital exclusivity as cosmetics, hospitality and fashion are increasingly relying on engaging with their consumers through both emotional marketing and cutting-edge sustainable components or techniques: Isabelle Marant’s carat watch (produced with ethical gold), Six Senses SPA & Resorts, Oskia Skincare, …
The outcome
The Future Laboratory, a UK based company specialized in forecasting trends and brand strategies identified 5 stages of luxury items’ lifecycle, matching our purpose :
- Stage 1: Acquisition and value
- Stage 2: Discernment and worth
- Stage 3: Emotion and experience
- Stage 4: Responsible and aware
- Stage 5: Intellectual and poetic
So, where does your brand stand and how do you think this ongoing trend will impact your clients’ loyalty on the long run ?
Sources :