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Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Publicité
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
Overture 2.0  - Connect the Dots of the Premium Economy
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JWT: The Future 100 (December 2014)JWT: The Future 100 (December 2014)
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Overture 2.0 - Connect the Dots of the Premium Economy

  1. OVERTURE 2.0 Connect the dots of the premium economy
  2. CONTENTS FOREWORD 1 TRAVEL AS LUXURY 4 SUMMITS & CLIFFS 2 PLATFORMING EVERYTHING 3 LUXURY AS A JOURNEY 5 THINK BIG 6
  3. The pace of change is more rapid than ever before. Entire industries are shrinking while others exponentially growing with innovation. Emerging economies, disruptive technologies, and distribution advancements present new opportunities that threaten the conventions on which our companies were built. Advanced is word reserved for those who understand and harness the shifting definitions and parameters of global business. Disparate worlds are no longer an ocean apart, but a community away. Connecting the dots is how we unlock communities; Not simply by inserting products, but by implementing a culture and dialog between consumers and suppliers. The future is the seamless cycle of creation, continuous improvement and feedback hardwired into every product, service, and experience. Foreword A CHANGED WORLD
  4. Brand Proliferation There will be more brands, strong organic brands with competitive products giving everyone from Unilever to LVMH a run for their money. Microcosmic Ecosystems Move beyond demographics to understand how cultures and communities continuously drive demand. Democratization of E-Commerce & Digital Marketing The confluence of supply chain advancements, IoT maturation, and increasing access to powerful digital tools and insights as well as the increasing demand for privacy will create opportunities for new technology conglomerates and the demise of those previously thought to be infallible. Decentralization of Fashion & Luxury Goods The transition from cyclical trends to permanent collections with capsule releases will be difficult. Institutional brands will be required to develop and execute robust omni-channel strategies putting downward pressure on historically superb margins. Stakeholders will face unprecedented pressure to create while shareholders feel the crunch resulting in uncomfortable circumstances for many. Menswear and accessories is wide open for better segmentation as well as consolidation opportunities. Women's athletic and work wear niches will continue to expand. Global Pricing While price sensitivity is extremely important, price is becoming less of a valuable indicator of competitive advantage. Customers are able to compare prices of substitutes almost instantaneously thanks to AI. Billions of global conversations, reviews, chats, ratings, likes, and reactions are exposing what customers value and why across brands, products, and services. Clearly differentiated, value-added products will take center stage. Offline Experiences Like it or not most of us in advanced economies are shackled to our devices. With the imminent uptake of VR and AR, the ability to unplug will be challenging. Consumers will react and brands will take note, providing privacy as a premium service. Overture 2.0 | Connect the Dots of the Premium Economy 2 SUMMITS & CLIffs
  5. Yes, platforming often results in disruption, however for brands this should not necessarily be the goal. The goal is to provide premium products, services, and experiences to the greatest number of people with nominal additional investment beyond an average product, service, or experience. Everything Overture 2.0 | Connect the Dots of the Premium Economy 3 PLATFORMING More people than ever before can afford experiences previously reserved for high net worth individuals thanks to technology and innovative startups bent on disrupting everything from private jets (Jet Smarter) to socks (Stance). The cost to supply these products, services, and experiences is decreasing. If premium is the optimal convenience or exclusivity of a service, platforming is creating accessibility to premium goods and services that were otherwise cost or design prohibitive. Buying the album of every one of your favorite artists used to be cost prohibitive until Spotify.
  6. Travel Luxury Overture 2.0 | Connect the Dots of the Premium Economy 4 as Airbnb has ousted the world’s largest inventory-based hotel companies as the largest hotelier in the world by providing a platform. This means of mass access provides users with an alternative to hotels and traditional pricing and lodging models making travel a more accessible experience. According to Visa, households making more than 20,000 USD account for more than 90 percent of international travel. By these figures, nearly half of all households globally will be part of the traveling class by 2025. Hotels must compete in unprecedented ways to win the affection, loyalty, and dollars of its consumers by reaching them in their social, professional, and lifestyle contexts. Competing for a piece of the 1.5 trillion USD pie by 2025 requires understanding the current and future desires of consumers today and creating the brands, products, and experience to captivate their interest and discretionary dollars. Brands who choose to invest in making travel more convenient, luxurious, exciting, and/or unique will be rewarded by consumers globally.
  7. as aLUXURY Journey People want to capture, share, post, like, and embark on quests to find new sites, activities, products, people, and cultivate new interests. There is an extreme amount of noise and stress around us daily: social media updates, extreme weather, global tensions, and catastrophes. People need to think, explore, and be inspired. Travel represents this opportunity for many if not most. Brands have an opportunity to create an authentic journey not only enabling customers to getaway, but to explore themselves and what makes them sentient. Small things, interesting things, unexpected things, inspiring environments, empathetic interaction with others and the world around them. Appeal to basic needs and desires in elegant, thoughtful packaging – as a journey, as exploration.
  8. Overture 2.0 | Connect the Dots of the Premium Economy 6 BIGBlockchain^Quantum Computing=Trust Economy THink With the ability to assign and track instantaneous value and ownership of any object to any person using low cost platforms, smaller companies and brands will be able to operate at a scale previously unimaginable. Social platforms will become more powerful than ever connecting buyers and sellers at an unprecedented rate, bridging the information and computing gaps between supply and demand. Consider the case of Daniel Wellington watches, an aspirational brand that amassed $200m in sales selling inexpensive, luxurious-looking, Chinese- built timepieces. There is even greater opportunity for brands to scale high-quality products with unique narratives using readily available social, digital, and experiential tools. Brands must think beyond the sharing economy and embrace the less obvious opportunity: the trust-based economy. Cultivate brands that are organizationally, operationally, and philosophically trust- worthy.
  9. Connect the Dots. CREATE THE FUTURE. www.louis-corp.com
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