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★   twitter.com/gleonhard
★   www.mediafuturist.com
We are all struggling with...
Br o a d b a n d C u l tu r e
Juggling Rivers of Information & Media

 Broadband
  C u l tu r e
The global economic fabric has changed


     Many trusted old business
        models seem to have
   suddenly stopped wo...
Things have dramatically changed
We are entering a creative, social and collaborative era
Many of us are more concerned wi...
The Switch from Closed to Open: Software
The switch from Closed to Open: News Media
The switch from Closed to Open: Elsewhere
Decentralization vs Destination
    Centralized >>>    Decentralized

Microsoft / Windows         Google
       MTV       ...
Media Consumption Trends
       Music     Video     Games       Books       Mags & Print

  Percentage of Revenues from Di...
In Media, no doubt...
Meaning




          To
From
Openness
          Trust
Control
New Economic Trend-Tags
• Believe Economy (perception rules)
• Trust Economy
• Attention Economy
• Experience Economy
• At...
Luxury (re)-defined
      • In economics, a luxury good is a good for which demand
        increases more than proportiona...
Potential Future Luxury Items




                          100
100



      Time
      Choices   50
                50


...
A trend? Luxury for myself
     Plain and demonstrative extravagance
     may no longer be the main goal
     Real Privacy...
Looking at this Future, I would like to ask:
  • Will Luxury still really be something that
      is ‘not a necessity’?
  ...
Leading luxury brands are Icons
             <>
The Internet creates... a
 leveled playing field.
In your business, how important is
A table of...challenges
                                  Maybe?
           Was

  Product Centric Innovation   User-Centr...
had
Luxury brands have their own ecosystems
A tough question for Luxury Brands

    Exclusion drives value




     Inclusion drives value
Music Industry Learnings
Comparing the the Music Industry and the Luxury Business

• Strong emphasis on ‘creative genius’
• Strong emphasis on cont...
Reviewing the assumptions...
Eight of ten purchases are emotionally driven.



                                            t?
                         ...
Luxury is an Experience - so how
could this happen Online?

                          Yes... Touch!
And




      Source: MetheMedia.com
Can Luxury’s aura of conviction
and exclusivity be preserved on
the Web?

 •Probably: Yes - if you put the same care
  int...
How about...

 LuxuryTube
 Luxury.fm
 LuxuryPeople
 LuxuryOS?
Remember?
  “To bring our customers into our world, to
  convince them via the product.”


Analysts estimate that online l...
Exclusivity... Online?
Let’s talk about
Instruments of Growth...
Some ideas on Brands 2.0

     A brand is no longer a static ‘thing’
     A brand is connected, living entity
     (i.e. p...
New kinds of Brand Narratives...
So
   c   ia
          l   me
                dia
Social Media is becoming... CRM
Social Media is just a component of
     Social Business
Information > Conversation
 Interruption > Engagement
 Annoyance > Entertainment
This is an Ad > This is Content
“Great pr...
“Great products that have marketing
embedded in them” (J. Hicks, CPB)
Some 2009 Advertising Trends

• Mobile Advertising will explode
• Twitter will enter advertising
• RSS & feeds will finall...
The Future is not about Technology...




 Emerging Cultural Practices
The $$ always follow the Habit-Shifts




Track and really understand the
key Habit-Shifts and you’ll find
the new revenue...
What remains crucial:




     being real i.e. authentic,
      validated and certified
Summary
Thanks for listening!

★email me at
  gerd@mediafuturist.com
★twitter.com/gleonhard
★facebook: gleonhard
★more presentatio...
The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009
The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009
The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009
The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009
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The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009

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Gerd's presentation at the Luxury Interactive event in London, March 17, 2009. Topics: the switch from closed / controlled to open, central to decentral, luxury redefined.... More on my blog http://tinyurl.com/dle5rq

Publié dans : Technologie, Business
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The Future of the Luxury Market Gerd Leonhard @ Luxury Interactive London March 17 2009

  1. 1. ★ twitter.com/gleonhard ★ www.mediafuturist.com
  2. 2. We are all struggling with...
  3. 3. Br o a d b a n d C u l tu r e
  4. 4. Juggling Rivers of Information & Media Broadband C u l tu r e
  5. 5. The global economic fabric has changed Many trusted old business models seem to have suddenly stopped working
  6. 6. Things have dramatically changed We are entering a creative, social and collaborative era Many of us are more concerned with global issues such as Energy & Environment Many of us are increasingly more concerned with Self-Fulfillment
  7. 7. The Switch from Closed to Open: Software
  8. 8. The switch from Closed to Open: News Media
  9. 9. The switch from Closed to Open: Elsewhere
  10. 10. Decentralization vs Destination Centralized >>> Decentralized Microsoft / Windows Google MTV Youtube Tower Records / HMV Spotify / Last.fm Traditional Telecoms Skype Cable TV Internet TV / IPTV
  11. 11. Media Consumption Trends Music Video Games Books Mags & Print Percentage of Revenues from Digital Services *my own estimates 100% 75% 50% 25% 0% 2008 2009 2010 2012 2015
  12. 12. In Media, no doubt...
  13. 13. Meaning To From
  14. 14. Openness Trust Control
  15. 15. New Economic Trend-Tags • Believe Economy (perception rules) • Trust Economy • Attention Economy • Experience Economy • Attraction Economy
  16. 16. Luxury (re)-defined • In economics, a luxury good is a good for which demand increases more than proportionally as income rises, in contrast to a quot;necessity goodquot;, for which demand increases less than proportionally as income rises. • Another market characteristic of luxury goods is their very high sensitivity to economic upturns and downturns, high profit margins as well as prices, and very tightly controlled brands. • Conspicuous consumption: the lavish spending on goods and services acquired mainly for the purpose of displaying income or wealth...a means of attaining or maintaining social status.
  17. 17. Potential Future Luxury Items 100 100 Time Choices 50 50 10 5 Was Is Will Be
  18. 18. A trend? Luxury for myself Plain and demonstrative extravagance may no longer be the main goal Real Privacy becomes a luxury Personal transformation is becoming more important than extroverted presentation
  19. 19. Looking at this Future, I would like to ask: • Will Luxury still really be something that is ‘not a necessity’? • Will the primary purpose of Luxury products and services still be to display income or wealth? • Will Luxury brands still be able to maintain tight control over everything, and prosper at the same time?
  20. 20. Leading luxury brands are Icons <> The Internet creates... a leveled playing field.
  21. 21. In your business, how important is
  22. 22. A table of...challenges Maybe? Was Product Centric Innovation User-Centric Innovation Extreme Control over Brand Shared, Open Brand Exclusivity Inclusive Specialness Retail Stores Retail Spaces (RL, Web)
  23. 23. had Luxury brands have their own ecosystems
  24. 24. A tough question for Luxury Brands Exclusion drives value Inclusion drives value
  25. 25. Music Industry Learnings
  26. 26. Comparing the the Music Industry and the Luxury Business • Strong emphasis on ‘creative genius’ • Strong emphasis on controlling every step of the process, supply chains & distribution • ‘We know what’s best’, top-down approach • Iconic status of products, and the brand itself
  27. 27. Reviewing the assumptions...
  28. 28. Eight of ten purchases are emotionally driven. t? n e m n o ir v n E ry o s n e -s i lt u M
  29. 29. Luxury is an Experience - so how could this happen Online? Yes... Touch!
  30. 30. And Source: MetheMedia.com
  31. 31. Can Luxury’s aura of conviction and exclusivity be preserved on the Web? •Probably: Yes - if you put the same care into your web presence than you put into your products. •How about exclusive web communities with exclusive memberships? •How about exclusive content?
  32. 32. How about... LuxuryTube Luxury.fm LuxuryPeople LuxuryOS?
  33. 33. Remember? “To bring our customers into our world, to convince them via the product.” Analysts estimate that online luxury revenues account for below 5% of total global sales. Source: WSJ 94 % of the ultra affluent in the United States regularly buy products online Source: 2008 Unity Marketing study
  34. 34. Exclusivity... Online?
  35. 35. Let’s talk about
  36. 36. Instruments of Growth...
  37. 37. Some ideas on Brands 2.0 A brand is no longer a static ‘thing’ A brand is connected, living entity (i.e. part of an ecosystem) Brands are questioned entities, and Increasingly transparent... and Soon, so much harder to control In the near future, a brand's equity may well not rely on how well it is controlled, but on how well it is shared...?
  38. 38. New kinds of Brand Narratives...
  39. 39. So c ia l me dia
  40. 40. Social Media is becoming... CRM
  41. 41. Social Media is just a component of Social Business
  42. 42. Information > Conversation Interruption > Engagement Annoyance > Entertainment This is an Ad > This is Content “Great products that have marketing embedded in them” (J. Hicks, CPB)
  43. 43. “Great products that have marketing embedded in them” (J. Hicks, CPB)
  44. 44. Some 2009 Advertising Trends • Mobile Advertising will explode • Twitter will enter advertising • RSS & feeds will finally go mainstream • Podcasts (audio & video) keep increasing in reach • Word of mouth / mouse will continue to increase in importance, and so will UGC as a key driver • Display advertising will continue to decrease, spending on Search (Social!) will grow dramatically
  45. 45. The Future is not about Technology... Emerging Cultural Practices
  46. 46. The $$ always follow the Habit-Shifts Track and really understand the key Habit-Shifts and you’ll find the new revenue opportunities
  47. 47. What remains crucial: being real i.e. authentic, validated and certified
  48. 48. Summary
  49. 49. Thanks for listening! ★email me at gerd@mediafuturist.com ★twitter.com/gleonhard ★facebook: gleonhard ★more presentations at www.mediafuturist.com

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