The impact of the coronavirus outbreak has been devastating for the fashion industry, especially the luxury sector. Months of store closures, disruptions to supply chains, a dramatic plunge in traveler numbers, and a series of lay-offs have ended a decade of growth and optimism for luxury groups, such as LVMH, Kering, and Richemont.
While recovery is on the horizon – industry watchers point to the last quarter of 2020 as the beginning of a turnaround – things will never be the same. This is an excellent time to stop and look at a new way forward for the fashion industry, push a much significant readjustment. As high-end labels must start planning for a post-coronavirus reality, they might do well to look to a sector close to home: the less trend-driven sector of hard luxury, namely jewelry, and watches.
How Apparel Customization helps Luxury Brands in Evolving?
· Deep Connection
The purchase of a jewel, whether buying a wedding ring or a gift for a loved one or yourself, is often associated with intimate moments. The leading brands should capitalize on this sentiment and should start approaching their relationships with their clients by making every purchase count and feel special. And what better way than customization to help high-end fashion companies in commencing this process.
· Loyal Customers
Acquiring new customers is essential, but so is cultivating existing ones and building loyal followings, instead of being all things to all people and looking for the low-hanging fruit. The custom-made luxury products give your customers a chance to show their swag to the world. When they hear compliments, like "OMG! Where did you get that from?", it automatically increases their confidence and loyalty towards your brand.
· No Season Launch
Do luxury labels like Chanel, Dior, or Valentino need to produce maximum collections a year? Why not make their clothes more special and forget about the bells and whistles? Why does it have to designer's plight to know what people want? Thanks to personalization, answering these questions is now possible. The changing trend of designing their clothes serves best for both the customer and well as the manufacturer. These days, the former prefers to create the clothes and take a bit of advice or so from the designer. They are now working in collaboration and which helps the clothing company to understand what consumer wants and also aids buyer to take help from the brand and know what looks good.
· Digital Communication
When most of the world is locked down and people no other way than social media to communicate, making this an ideal time for the high-brands to open all interactive channels. By having constant communication with audiences, the brands can regain their lost ground. But for this strategy to work, they should ensure that they hold these sessions or gateways of communication, not just for the sake of doing it. There should be less focus on products and more on services, such as custom-made products, digital supply chain, transparency, and many more.
· Capitalize on Brand Culture
Luxury brands have a phenomenal global cultural aura that goes way beyond products. People might not be a customer of a given brand, but they might still like its philosophy and brand culture. Therefore, there is a nothing stooping brand culture to prosper going forward. The current crisis the world is dealing with means we will never be working with the same parameters as now. But this doesn't mean we give up on brand value; therefore, it offering people made-to-order products, like clothes, watches, belts, and ornaments, will only ensure higher brand value.
Conclusion-
The bottom line of the blog is that a reassessment of how things were happing in the fashion industry is long overdue. The change can't happen overnight; therefore, the high-end luxury manufacturers need to evolve with time to reap benefits for a longer run. Less volume, higher margins: this should be the mantra of fashion companies that want to call themselves luxury labels. We, at iDesigniBuy, ensure that organizations stick to this notion, and offer customization solutions that provide stable business models.
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