She’s sharing her perspectives on how the luxury consumer has evolved - and what brands should do to keep up, in a way that respects their legacy, but leverages modern digital strategies.
"The luxury buyer isn't just someone who walks into a high-end store; they're increasingly digital-first, using platforms to inform and make their purchasing decisions," Fried explains. This shift demands that luxury brands rethink their traditional approaches and how they engage with consumers who are more informed, connected, and selective than ever.
The Role of Digital Platforms in Luxury Buying
Luxury brands must leverage digital platforms not just for marketing but for creating a seamless, personalized shopping experience. "Luxury consumers expect a blend of exclusivity and personalization that extends beyond the physical store," Fried notes, emphasizing the importance of integrating advanced digital like AR and AI to cater to this demand.
Strategic Use of Influencers and Creators
Influencers and creators are emerging as an important facet of strategy for many fashion and retail brands, but it’s an area luxury brands historically haven’t continuously leveraged - until recently. In 2024, luxury brands are leaning in and strategically using these figures not just for endorsements but as integral parts of their storytelling. "Creators bring a depth of engagement, offering content that resonates deeply with the interests and lifestyles of luxury buyers," Fried shares. This approach helps brands maintain their allure while being relatable and accessible to newer generations.
For example, Louis Vuitton has successfully navigated using creators and influencers to reach their different audience personas. The brand employs both traditional celebrity ambassadors like Zendaya and digital influencers like Dixie D'Amelio to reach different segments of the luxury market effectively. "Zendaya helps preserve the traditional luxury narrative, while Dixie connects with younger, digital-native consumers through platforms like Instagram," Fried explains. This dual strategy allows Louis Vuitton to maintain its heritage while expanding its reach.
Unlike traditional influencer engagements that might focus on user-generated content (UGC), Zendaya serves as a Louis Vuitton house ambassador, representing the brand on high-profile platforms, from red carpets to major ad campaigns. Her involvement is a testament to how luxury brands can preserve their allure while modernizing their outreach.
For brands navigating the complex luxury market, understanding and adapting to the nuances of modern consumer behavior is key. Engaging with digital platforms and utilizing both traditional and new-age influencers are strategies that can help bridge the gap between heritage and innovation.
The luxury market's future lies in understanding the evolving consumer landscape and adapting engagement strategies accordingly. As luxury consumers become more diverse and digitally inclined, brands that can seamlessly integrate tradition with innovation will lead the way. By embracing digital transformation and respecting the unique qualities that define luxury, brands can create a compelling narrative that resonates with both long-time aficionados and new luxury enthusiasts.
For luxury brands looking to remain relevant in this dynamic market, it's crucial to keep a pulse on emerging trends and continuously innovate the consumer experience. The evolution of the luxury consumer is an opportunity to redefine what luxury means in the modern era.