Traditional luxury brands need to learn from direct-to-consumer brands and focus on sustainability, diversity, and technology to win over the future of luxury that is Gen Z. In case you are struggling to reach a conclusion and don’t know how to go about these changes. Hold your breath and install the leather bag design software. The tool will provide you innovative solutions that will help you in the long run and prove once again the resilience of your business.
How Handbag Design Software Offers a Competitive Edge?
Gone are those days when to be successful in traditional luxury retail used to be about opening bricks-and-mortar stores, drumming up positive PR in glossy magazines, and ensuring you had an iconic logo that spoke of a storied past in either Paris or Italy. The landscape has changed a lot in the past couple of months and brands are quickly giving faster rise to digital commerce and increasing the need for community and support, the hierarchical nature of luxury brands as the authority on fashion is over. Digital technology has emerged as a powerful tool to combat any challenges in the luxury sectors. It has disrupted the traditional codes of exclusivity of luxury and has democratized the industry, and now online audiences own the conversation.
As we know, Gen Z and millennials are dominating the fashion industry trends, therefore understanding their mindset would handbag manufacturers and retailers to get back on their feet faster. This young population now accounts for 30 percent of global luxury spending, and they are gradually coming of their age and gaining disposable income.
Here these elements will help you know their thinking pattern:
- Provide Authenticity and Inclusion
Gen Z and millennials want to be treated as equals and need to be treated as audiences, rather than just consumers. And on top of it, the American Gen Z population is the most racially diverse generation yet. But it is the Chinese Gen Z, who feel they are losing their voice as they are coming out of the crisis. Their preferences are slightly different from those of their American counterparts. It is because of this reason the Western luxury is growing “Made in China” movement.
Leading brands and Gen Z favorite Virgil Abloh made headlines when he was appointed as one of the only black designers to conduct a heritage fashion house, Louis Vuitton. The step was taken in order to make this age group aware that brands are initiating efforts to offer innovative designs with unique collaborations and collections that will help consumers reflect their individuality and values. The future of global luxury will be about a continuous commitment to a cross-cultural design representing the diversity of Gen Z. Our online bag maker will allow your Gen Z consumers to feel authentic and inclusive in every bag they design for themselves.
- Focus on Gen Z’s Price Point
Social credibility now equals cultural credibility. Traditional luxury can no longer justify its high price points, and culture has been democratized for those who once couldn’t afford to buy expensive items. Well-priced fashion labels, rooted in bags or streetwear culture, are where Gen Z feels it can express its integrity. Gen Z customers gravitate toward brands that aesthetically appeal to them, within their budgets, and do right by their suppliers. The broader fashion ecosystem, especially as these customers emerge from a global crisis.
— Louis Vuitton (@LouisVuitton) October 19, 2019
- Implement New Realities
Since the beginning of 2020, store experiences and sales are moving online, and the recent crisis has given ample amount of time to think and adopt online technology. Innovations like AR will only cater to Gen Z and millennial-specific mindsets that are IRL-native.
In the virtual world, Gen Z’s need for self-expression and meaning is no different than in real life (IRL). Before Covid-19, digital fashion and augmented reality (AR) presented a huge opportunity for luxury brands to answer and reflect future societal shifts. Fifty-eight percent of Chinese millennials already wanted to buy digital luxury products— many of them can embody gender via their online avatar so that they cannot express IRL – pre-crisis. Now, as the brands are at stake, the first fashion weeks have transitioned into online events, which resulted in spike for digital fashion and showrooming, and e-commerce virtualizes handbags.
The technology is there to help the transition. The bag designer by iDesigniBuy will help leading luxury companies to transition their product line into a meaningful experience build around while making the product. You have the chance to cater to consumer’s stories, and behavior with online retail experiences combined as purchasing trends are robust.