Another blog . . . seriously? Is this what the world needs right now?
I know what you’re thinking. We’re all drowning in information. It comes at us like water from a fire hose, unrelentingly, dawn to dusk and then some. We’re soaking wet and our shoes are ruined. Not to mention our hair.
Well, think of me as your Frette towel in this deluge. Or, if you like, your Hermes umbrella. (Umbrella – still one of the best Rihanna songs EVER. But I digress.)
Here’s the thing. The worlds of luxury, marketing and technology are increasingly intertwined. Tech companies have always been harbingers of luxury, with early adopters spending a fortune to get their hands on the latest gadgets first. In parallel, luxury companies are increasingly keen to understand how to leverage tech to build their businesses, and how to avoid being disrupted to death. Marketers are engaged in understanding how tech can enable new ways to reach luxury consumers and drive incremental sales and deeper loyalty, while preserving the privacy and personalized service that wealthy consumers demand. And all of this is happening at the speed of light.
According to the consultants, the global luxury business is a $1.2 trillion industry, the “core” of which – luxury personal goods – is worth $250 billion. With an anemic growth rate, the luxury world is looking for innovation and ideas. The global tech industry is a $2.9 trillion business, with a robust growth rate, albeit with far lower margins (sometime negative margins, but hey, their rules are different). The tech world is looking to become more like the luxury business, building enduring brands and products that command premium pricing and resist commodification (we’re looking at you, Apple). Meanwhile, across the globe, companies spend over $600 billion annually on marketing – they don’t always know what’s working, but they know they have to do something.
So there’s a lot of money at stake here. Do I have your attention yet?
Dandelion Chandelier is your waystation at the intersection of luxury, marketing and technology. It’ll be a place to discuss ideas old and new, what we love, what’s driving us batty, and how all three of these industries – luxury, marketing and technology – can position themselves for future growth and profitability.
I know you were expecting an extended metaphor about how we’ll shine a light on things, or maybe on how we are going to stay out of the weeds. Maybe later. For sure, later, I will tell you the origin story of the name Dandelion Chandelier.
But right now, we have a storm to deal with. So ladies, pull on your cute Wellies (mine are from LV and I love them!), and guys, do whatever it is that you do when it’s raining.
And let’s go.
Pamela, Sounds very classy! No surprise. Looking forward….Best, Pat