“The retail market has always been an evolving landscape. But as technology gets better every day, connecting consumers and retailers in ways that were unheard of 15 years ago, the retail environment is experiencing exponential change.” as mentioned on The Trend Spotter.
According to ELSE Corp, besides the most important point that there is an increase in new technologies, the changing of manufacturing, customer’s needs, personalisation, made to measure and tailoring will also determine the future business model of retail and the way customers shop.
In the past, while luxury brands preferred to steer away from technology, fearing it synonymous with mass media, and therefore mass-market communication and perception, nowadays the luxury brands are changing their strategies by considering the role that social media and advanced technologies play in consumers’ everyday lives and they are adapting them to their own purposes with a smart and upscale twist. Additionally, the change of manufacturing plays a big role in shaping the future of retail. Brands do not want to stick to traditional ways of manufacturing that are based on old technologies and seasonal collections, anymore. Now, brands want to apply new technologies into their traditional scheme by creating limited edition collections.
And what about customers? What do they want? In this developing world, the customers have higher expectations from brands. They want to have unique, tailored products, they want to experience more and want to have on-time delivery. So, what about brands? Are the brands able to answer all the customers’ needs and wants? Luxury brands cater to consumers’ growing desire for individualism and personal creative expression with personalization concepts. Also, brands recognize the importance of using digital technology in-store to make the shopping experience more appealing and they offer both off-line and on-line shopping experiences by combining these two opportunities; a new made to measure channel both online and physical to have an altered pattern to match customers’ measures and style specs.
Depending on our deep research and analysis, “Powered by E.L.S.E.” is a distinctive mark for luxury fashion brands & merchants, using the E.L.S.E. SaaS platform and industrial made to measure process, in cooperation or partnership with ELSE Corp., towards Luxury 3.0, in search of a New Customer Experience for Luxury Shopping in the new technological era.
Do you want to learn what E.L.S.E. we do?