Daily LInks
1. Gucci targets China’s post-Covid luxury surge with Alibaba tie-up: “The inclusion of luxury goods in ecommerce platforms — a destination for bargains — may lead to a drop in brand image. But the huge popularity of Tmall among both rich or poor makes it a powerful channel for Gucci to improve sales.” – Read More on the FT
2. How Luxury Fashion and Lifestyle Brands Can Leverage Technology in 2021: Now more than ever, consumers are demanding an offline experience in addition to the comfort from buying online. Morphing the two together can only be obtained through Artificial Intelligence. And this is where high-end luxury fashion brands are aiming for in the modern age of fashion apparel and accessories. – Read More on Forbes
3. Even Amid Diversity Push, Brands Are Still Failing to Make Consumers Feel Represented in Ads. “When consumers do see themselves represented, they’re more likely to pledge their loyalty to a brand or make a purchase,” Germain said. “They’re using discretionary income and they spend time researching these brands, so the brands owe it to them in turn to represent them in their content.” – Read More on Morning Consult
4. Poshmark’s S-1 highlights: Cutting marketing expenses led to profitability. Though activity on Poshmark fell at the beginning of the pandemic – the company reported that during the month of March the gross merchandise value of the items sold on Poshmark fell 13% year-over-year – shoppers started turning to Poshmark more for their shopping longer the pandemic dragged on. In the quarter ending June 30, year-over-year GMV growth ticked back up to 42%. – Read More on Modern Retail
5. How to reach the new luxury shopper: Aspirational nesters. The challenge lies in meeting the expectations of young, digitally native customers who are accustomed to a high level of convenience when shopping online. Luxury brands – particularly those who have quickly ramped up e-commerce during the pandemic – will have to deliver on more than just the right inventory mix, and are making changes internally to do so. – Read More on Vogue Biz
6. Farewell luxury goods industry, and welcome industry of “rebellion and creativity.” The corona crisis not only knocked down the luxury goods industry, but it commanded a redesign. “Luxury will emerge from this crisis more purposeful and dynamic than ever before,” according to Bain & Co. – Read More on Retail Detail
