Trends and strategies shaping the luxury retail roadmap for 2023

Trends and strategies shaping the luxury retail roadmap for 2023

Trends and strategies shaping the luxury retail roadmap for 2023

If 2022 was the year of hype on web3, 2023 will be the year things get real.

So says Pierre-Nicolas Hurstel, CEO of web3 solutions platform Arianee, whose brand partnerships include Richemont Group, L’Oréal, Breitling, Paris Fashion Week, Moncler and more, along with technology partners IBM and The Sandbox.

Hurstel believes that brands are now focusing on more specific uses that are closely related to a physical product, as opposed to digital assets that exist exclusively in the metaverse.

“Technology will be applied more strategically and brands will look for programs that can solve real problems,” he says. “It’s measured by business impact, not just headline size.”

A good example is on-chain digital passports for luxury goods – watches in particular – which he says are regaining interest now that the hype has subsided. Arianee already has such certificates of authenticity for Breitling and IWC Schaffhausen, but for 2023 it has signed a contract with three other global watch houses, as well as several large luxury fashion brands and a wine and spirits brand.

According to Hurstel, token-based customer engagement – ​​again tied to ownership of a physical product – is another key strategy shaping 2023.

It says that by sharing your email address with a brand you are sharing your own data, when you follow that brand on social media you become third party data, but having a token does not include null party data. “This is the future of engagement.”

“You don’t want to be in thousands of databases where a platform monetizes your data in exchange for access to free services. You want control.”

“Maybe the content is similar to others (the web2 CRM programs we already know), but the engagement model is changing radically.”

To date, around one million NFTs have been minted via the Arianee protocol (of which 80% are digital product passports). This year, that number will increase exponentially to 5-10 million.

To date, Arianee’s CRM-based projects have included an NFT activation for Moncler related to the Maya branded jacket featuring graphics designed by Antoni Tudisco and a collection of 10,000 free social tokens for L’Oréal’s YSL Beauty, giving access to the brand’s ongoing initiatives.

As for the 2022 hype, it served an important purpose. “The good thing last year was that people understood that a new marketing or engagement system was available,” he concludes, “but now it’s about integrating these new tools into current business models to make a real impact.”

MORE FROM FORBESTiffany, CryptoPunks, Bored Apes, Adidas and everything you need to know about 2022 on Web3MORE FROM FORBESSoho House of Web3 is launched in Paris and everyone is invitedMORE FROM FORBESWhy luxury brands like Farfetch partner with Ledger

Leave a Reply

Your email address will not be published. Required fields are marked *