In their 2022 report entitled “Luxury and technology, the beginning of a new era”, the Colbert committee, which brings together 92 French luxury houses, and the Bain & Company study wanted to make an inventory of a panel of technologies. Web3, within selective brands. Interview with Joëlle de Montgolfier, vice president of studies and research for consumer goods, distribution and luxury at Bain & Company.
To what extent luxury brands have appropriated NFT technology or not ?
Joelle de Montgolfier: While the technology is recent, it is already revolutionizing luxury customer relationship management by allowing you to track customer preferences, such as the type of purchases and their interests, across their portfolio of NFTs. Quickly adopted by the 5% of pioneering luxury brands, NFTs could be massively implemented in the years to come: 51% of the luxury industry is already in the testing phase or planning to launch before 2025. Thanks to the blockchain, NFT makes transposable in the digital world two notions of luxury that were previously difficult to dematerialize: rarity and ownership.
NFTs, Metavers… why luxury brands are diving into Web3
What about their adoption of the metaverse? It could constitute both a new distribution model and a formidable lever to seduce the new generations. This is, together with NFTs, the area where luxury is spreading fastest. The metaverse is only in its infancy but portends a promising future, particularly as it could more easily reach the vast community of gamers. This very early positioning of the luxury sector gives it the opportunity to actively participate in the development of the technology of the future. Immersive universe, enhanced experience, sense of belonging: all the drivers of customer engagement are found in the possibilities offered by the metaverse.