2021 luxury market update : it’s all about digital and China

What is the status of the luxury market and digital in this Covidised 2021 world? A little more than three years ago, Philippe Jourdan, one of the world’s leading marketing experts regarding the luxury market, told me that the role of digital in the luxury market was not as significant as one may have thought. I interviewed him a few weeks ago in order to better understand the current situation and assess how much it had changed under the pandemic. Let’s see what has happened in the past three years and more particularly in 2020-2021. Namely, with regard to the unstoppable rise of China in the luxury market. Above all, according to Philippe, attitudes regarding the online purchase of luxury products have changed dramatically during this crisis. All this might well end up alter consumers’ behaviours forever.

 

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Luxury market in 2021: the irresistible rise of digital and China/ Interview of Philippe Jourdan by Yann Gourvennec of Visionary Marketing

What is the state of luxury and digital in the world in 2021?

More than three years after the CEW meeting, where Philippe Jourdan described a half-hearted impact of digital on the world of luxury and rightly urged us to “put digital back in its rightful place,” I interviewed him again to provide an update on the situation and assess how it had evolved during the pandemic. Let’s look at what has happened over the past three years, particularly in 2020-2021, and particularly the irresistible rise of China in the market. The very notion of B2B or B2C is at the heart of the marketing process. A market is the meeting of the supply and demand of luxury. And above all, according to Philippe, there has been a change in attitude towards luxury shopping on Internet sites. The B2B website is your company’s digital showcase. This is the easiest and most effective way to present your company’s products and services to future customers. During the #crisis, which ultimately changes behavior #sustainably.

Find the interview here: [CLICK HERE]

THE GOOD PROOF: A TOOL TO BETTER COMMUNICATE ON YOUR CSR COMMITMENTS

Julien Quidor Dit Pasquet, co-founder of the creative and committed agency The Good Company, created The Good Proof in partnership with Promise Consulting and The New Anthorpology. A tool to help brands identify, create and prioritize their CSR commitments.

64% of French people think a brand should communicate if it implements #CSR (corporate social responsibility) actions. Faced with this number, the mistrust of the same respondents is very high: 66% believe that the actions promoted are not a reality. This finding has accelerated since 2019, when they were only 49%. For Julien Quidor Dit Pasquet, co-founder of the creative agency The Good Company, “We are witnessing a responsible revolution where brands will be disrupted socially and environmentally on their responsibilities.

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The levers of commercial performance as part of a strategy of internationalization of retailing: longitudinal modeling in the beauty sector

Philippe Jourdan and Jean-Claude Pacitto in Management Studies, 2021/vol.9, n°2.- p. 107-113

https://www.researchgate.net/publication/352537789_-The_levers_of_commercial_performance_as_part_of_a_strategy_of_internationalization_of_retailing_longitudinal_modeling_in_the_beauty_sector-

The academic literature has focused more on the competitive performance of #retail brands than on their commercial performance per see and the antecedents. Our #research study examines the factors that impact #commercial performance by addressing two questions: does the commercial version of a cosmetic retail brand depend on the country in which it operates (Where I am?) and depends on the nature of the circuit (Who I am?)?

Key words: #commercial performance, #marketshare, #retailing, #international marketing, #branding