, APAC
103 views
Source: Pexels

Tech adoption in luxury goods industry accelerates: report

This enhances customer engagement and operational performance amongst others.

The adoption of new technologies in the luxury goods industry remains low, but is seen to be accelerating, Bain & Company reported. 

“The adoption of new technologies in the luxury industry is still in its infancy. They can play a central role in the profound transformation of the sector: at the service of customers, operational excellence, and sustainable development,” Mathilde Haemmerlé, partner in charge of the Luxury Goods practice at Bain & Company in Paris, said. 

“The fields of application to be explored are still numerous and promising. The pooling of forces across the sector will be a powerful accelerator.”

Read more: Southeast Asia's luxury retail industry shows resilience: report

In a study for the Comité Colbert, Bain & Company found that on average, its member companies have adopted 2.3 out 16 new technologies. 

These included biotechnologies, molecular recycling, 3D printing, artificial intelligence, and machine learning, amongst others. None of these were adopted by the majority of the sector and only RFID, 3D printing, and imaging have adoption of more than 30%. 

“Creativity and an interest in novelty have always been essential characteristics of the luxury business model. Its ability to integrate new technologies in line with its own requirements is a testament to the great vitality and agility of our sector,” Bénédicte Épinay, General Delegate of the Comité Colbert, said.

“This acceleration will contribute to making luxury a pioneer in technological innovation, as it already is in non-technological innovation.”

On average, luxury houses are testing 3.2 additional technologies, involving emerging technologies, such as NFT, metaverse, blockchain, holography, haptic gloves, and screens. 

Moreover, the study also found that customer engagement is the main focus of technology adoption in the industry. 

The adoption of technology, particularly in China, was intended to personalise and enrich distance selling experiences. 

 

Follow the link for more news on

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Foodpanda mengotomatisasi ‘dark stores’ di Singapura untuk mempercepat pengiriman

Gudang 24/7-nya memastikan pemenuhan pesanan sepanjang waktu.

Peritel Singapura masuk pasar Thailand dan Malaysia melalui Shopee dan Lazada

Menjual di platform-platform ini jauh lebih murah dibandingkan membuka toko fisik.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Rakuten menggunakan robot otonom untuk meningkatkan pengiriman tahap akhir

Mereka dapat melakukan pengiriman pada malam hari dan saat cuaca buruk berkat sensor LiDAR.

Erajaya Digital membuka toko elektronik terbesarnya

Cabang ini merupakan toko konsep ke-80 dari sekitar seribu cabang yang tersebar di seluruh Indonesia.

Pasar perawatan hewan peliharaan melejit di Singapura

Mereka menghabiskan uang untuk pelajaran renang, yoga hewan, pilates, dan lainnya.

Jaringan makanan cepat saji asal Cina membidik listing di Hong Kong

Mereka menggunakan kota ini sebagai tempat uji coba untuk ekspansi lebih lanjut ke luar negeri.