DIGITAL REVOLUTION HOW NEW CONSUMERS AND SOCIAL MEDIA ARE TRASFORMING FASHION INDUSTRY. December 13, 2017

Transcription

1 DIGITAL REVOLUTION HOW NEW CONSUMERS AND SOCIAL MEDIA ARE TRASFORMING FASHION INDUSTRY December 13,

2 FROM OLD MARKETING TO NEW MARKETING 1. From Brand DNA to Viral DNA 2. From target to people 3. From Life style to life moments 4. From Brand Awareness to Brand Affinity 5. From Brand Image to Brand Reputation 6. From advertising to advertainment 7. From Media Planning to Media Hunting 8. From Broadcasting to Narrowcasting 9. From doing communication to being communication 10. From market positioning to sense providing

3 POST MODERN SOCIETY Modern Society Belief in progress (individual, innovation, freedom, universal, global ) POST MODERN SOCIETY Regress (COMMUNITY, LINKS, AUTENTICITY, LOCALS CONSUMPTION AS OPPORTUNITY CONSUMPTION AS IDENTITY BUILDNG Fashion Consumption: GOODS AVAILABILITY FASHION CONSUMPTION: DREAM PURCHASE STATUS PURCHASE BRANDS: PRICE SEGMENTATION BRANDS SEGMENTATION BY STYLE LIFE Maffesoli, 2000; Cova, Giordano, Pallera, 2007 MASS LUXURY vs ELITE LUXURY

4 REGIONAL MARKETS AND FASHION CONSUMPTION W Europe, US, Japan POST MODERN -> Mature market (or Transformed?) Luxury Consumption re-thinking HIGH end consumption under discussion China, Russia, ME, FE: Modern Society mature -> EMERGED MARKETS Luxury Market for the Elites Opening to middle level market India, Brasill: Modern Society -> Emerging markets Luxury market development for the elites Medium level markets on a first stage 1

5 THE PERFERCT STORM AND FASHION CONSUMPTION Stock and real estate crisis: luxury market Income decrease for consumption (MASS LUXURY) Crisis for new rich life style (ELITE LUXURY) Old Money comes back (Mass e Elite) Consumers Confidence: medium and medium/high market Purchase decrease for unnecessary goods Consumption decrease: unemployment increase Emerged and Emerging Markets Strong China Russia: cash crisis India and Brazil: short term opportunity for Luxury sector 1

6 1 POST MODERN SOCIETY - INTERNET Modern Society: Mass Communication ISSIUNG: Structured, elaborated Organization TOOL: Mass media RECIVER: Big Mass no differenciation (target) FEED-BACK: Absent (non relevant) -> Few information generators and limited access to information for users Post Modern Society: Interactive communication ISSUING: Simple Organisations, Individual TOOL: Internet (site, blog, forum, social network, ) RECIVER: Individuals, aggregations, tribes FEED-BACK: Very important! -> General production of information and easy access, no limits (geo, time, language..): 2.0

7 INTERNET AND FASHION BUSINESS CHALLENGE SELF REFERRED COMMUNICATION MODEL CRISIS The MODEL: Media influencer oligarchy ; THE EVOLUTION: General access to the information (brands, products, dealers, prices, services) communication community sure to influence market trends Advertising, Media Relations and events focused on communication community Production and diffusion of internet contents (info on: brand weaknesses, brand confronting, style, products, performances...) 1

8 INTERNET AND FASHION BUSINESS CHALLENGE Self referred distribution model crisis The model: Oligarchy of points of sales and luxury streets (high streets), Dept. Stores, multi brand are the trend setters Very selected and controlled distribution, we can say consumption control The Evolution: Outlet: I go but I hide it, now I go and I show it off General access to the information -> purchase is not a holy ritual anymore E-commerce: from bargain hunters channels (stock, cheap price..), to premium (chance of a direct contact with brand evangelist)

9 INTERNET AND FASHION BUSINESS CHALLENGE Self referred distribution model crisis The model: Oligarchy of points of sales and luxury streets (high streets), Dept. Stores, multi brand are the trend setters Very selected and controlled distribution, we can say consumption control The Evolution: Outlet: I go but I hide it, now I go and I show it off General access to the information -> purchase is not a holy ritual anymore E-commerce: from bargain hunters channels (stock, cheap price..), to premium (chance of a direct contact with brand evangelist)

10 INTERNET AND FASHION BUSINESS CHALLENGE WEBSITES A) Conventional contents Product Catalogues Store Directory Company profile B) Innovative Contents - Newsletter - Short movies - E-commerce C) Limits: - Slow Download - Translation mistakes - Difficult web site maps - Google: not easy IMAGE LOW INTERACTIVITY TOP-DOWN APPROACH Still linked to traditional communication model

11 SOCIAL MEDIA: INTRODUCTION SOCIAL MEDIA MARKETING: Social Media Marketing uses social media features - opening, collaboration, interaction to involve users, to create conversations regarding a brand, a product or a service. MEDIA MARKETING: GOLD RULES 1. LISTENING: what people are telling about you (good, but first of all bad) 2. CONVERSATION: in mass marketing people cry, in social media people talk 3. INVOLVING: Not everyone wants to spend time watching always TV 4. CO-CREATION: brand products do not belong to the brand 5. BUILDING EXPERIENCE: stop speaking about second life!

12 SOCIAL MEDIA: INTRODUCTION SOCIAL MEDIA MARKETING IN FASHION LUXURY : 1. LISTENING: FEW 2. CONVERSATION: SOMEONE STARTS 3. INVOLVING: MANY EFFORTS 4. CO-CREATION: ONLY CUSTOMISED PRODUCT, AND IN ANY CASE FEW 5. BUILDING EXPERIENCES: MANY EFFORTS, SOME RESULTS -> SMM IS IMPOOSIBLE IF YOU DON T TAYLOR THE COMPANY FOR YOUR COSTUMER Enterprise 2.0 SOCIAL SOFTWARE TO ACHIEVE COMPANY OBJECTIVES Enterprise 2.0 (Andrew McAfee, 2010)

13 FOCUS ON SOCIAL MEDIA With reference to digital marketing in fashion industry we ll keep our focus on SOCIAL MEDIA Today SOCIAL MEDIA are a powerful toll and a driver to success for all fashion brands WE EXPECT COMMENTS FROM YOU, LADIES AND GENTLEMEN: YOU REPRESENT DIGITAL GENERATION!! 13

14 SOCIAL MEDIA IN THE WORLD: OVERVIEW 14

15 SOCIAL MEDIA IN THE WORLD: OVERVIEW 15

16 SOCIAL MEDIA IN THE WORLD: OVERVIEW BEHIND FACEBOOK 16

17 SOCIAL MEDIA IN THE WORLD: OVERVIEW ISTAGRAM IS THE THIRD SOCIAL NETWORK IN THE WORLD 17

18 SOCIAL MEDIA IN THE WORLD: OVERVIEW ISTAGRAM GROWTH 18

19 SOCIAL MEDIA IN THE WORLD: OVERVIEW SOCIAL NETWORK COMPOSITION 19

20 SOCIAL MEDIA IN THE WORLD: OVERVIEW CONSUMPTION: MORE AND MORE MOBILE (ALL SECTORS) 20

21 FASHION BRAND AND SOCIAL MEDIA 21

22 FASHION BRAND AND SOCIAL MEDIA IN GENERAL CONSUMERS ALWAYS LOOK FOR INFORMATIONS BEFORE SHOPPING WHILE SHOPPING AFTER SHOPPING 22

23 FASHION BRAND AND SOCIAL MEDIA LUXURY CONSUMERS TOO.. 94%: ON LINE OR OFF LINE RESEARCH BEFORE BUYING 78%: USE AT LEAST AN ON LINE SOURCE 23

24 FASHION BRAND AND SOCIAL MEDIA DIGITAL INFLUENCES 75% OF LUXURY SALES 24

25 FASHION BRAND AND SOCIAL MEDIA LUXURY CONSUMERS USE SOCIAL MEDIA FERQUENTLY USE OF SOCIAL MEDIA 80% MONTHLY 50% WEEKLY 25% DAILY USER GENERATED CONTENT 65% MONTHLY 40% WEEKLY 15% DAILY 25

26 FASHION BRAND AND SOCIAL MEDIA BRANDS HAVE TO: REACH THE TARGET WITH THE RIGHT TIMING AT THE RIGHT PLACE WITH THE RIGHT CONTENT 26

27 FASHION BRAND AND SOCIAL MEDIA DATA DRIVEN MARKETING 27

28 BEST PRACTISE ON ISTAGRAM MICHAEL KORS, DIOR, LOUIS VUITTOM 28

29 BEST PRACTISE ON ISTAGRAM NUMBERS ON ISTAGRAM: FOLLOWERS AND ENGAGEMENT 29

30 BEST PRACTISE ON ISTAGRAM PICK OF INTERACTIONS WITH #ALLACCESSKORS 30

31 BEST PRACTISE ON ISTAGRAM ACCESSORIES, MICHAEL KORS STRENGTH 31

32 DIOR INVOLVES THROUGH EVENTS BEST PRACTISE ON ISTAGRAM 32

33 BEST PRACTISE ON ISTAGRAM CELEBRITIES, THE SECRET OF SUCCESS 33

34 BEST PRACTISE ON ISTAGRAM LOUIS VUITTON: EVENTS AND SOCIAL RESPONSIBILITIES 34

35 BEST PRACTISE ON ISTAGRAM LOUIS VUITTON: EVENTS AND SOCIAL RESPONSIBILITIES 35

36 CREATIVE DIRECTORS BECOME INFLUENCERS 36

37 CREATIVE DIRECTORS BECOME INFLUENCERS DESIGNERS COMPARISON 37

38 CREATIVE DIRECTORS BECOME INFLUENCERS VICTORIA THE MOST FOLLOWED, RICCARDO TISCI THE MOST ACTIVE 38

39 CREATIVE DIRECTORS BECOME INFLUENCERS VICTORIA, BACKSTAGE AND EVENTS 39

40 CREATIVE DIRECTORS BECOME INFLUENCERS VICTORIA TOP CONTENT: FAMILY AND PASSIONS 40

41 CREATIVE DIRECTORS BECOME INFLUENCERS RICCARDO TISCI: GIVENCHY, STARS AND EVENTS 41

42 CREATIVE DIRECTORS BECOME INFLUENCERS KARL LAGERFELD, SPACE TO HIS COLLECTION 42

43 CREATIVE DIRECTORS BECOME INFLUENCERS NICOLAS GHESQUIERE, VUOITTON MAIN ACTOR 43

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