Go digital or go home: the digital transformation of luxury brands

Detalhes bibliográficos
Autor(a) principal: Ferreira, Leonor Picciochi Goes
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10071/21947
Resumo: Luxury industry have been perceived incompatible with digital technology for many years. The present dissertation purposes to understand how a digital strategy can coexist with a luxury one, assuring the respect for the brand fundamentals. Since there is an important trend of growth in the sales of luxury products through digital channels, and apps, it is essential to understand in depth the consumers' preferences and motivations while buying luxury goods or services online, in these. To investigate this topic in more detail, a survey was conducted in order to understand the perception, motivations and preferences towards luxury as a more globalized and digitalized sector, and their openness to buying these products through digital channels. The theoretical perspectives on this matter are extensively discussed in this thesis to understand how a digital strategy can influence a luxury brand's performance, and how relevant it is to include the digital tools in the brands' strategies. Research states that the profile has been changing in the past few years, being now, on average a younger consumer, leading to a change in his consumption patterns. In 2025, millennials are expected to represent 50% of the market, and Generation Z 8%. For this reason, it is key to understand what they expect from luxury brands, since they will be the big share of the pie in about five years. Consumers nowadays value more the experience, the proximity with a brand that they can relate to, making them feel understood, connected and unique. 75% of people already have a digital influence, partial or full, in their purchase experience of luxury. The quality of the product, the exclusivity of the product/service, social and environmental responsibility of the brand, the value of the product/Service perceived by others, social media presence, the engagement with Influencers and collaborations with other brands, revealed as the most important factors when choosing a luxury brand.
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spelling Go digital or go home: the digital transformation of luxury brandsLuxuryLuxury brandsDigitalSocial mediaConsumer perceptionsLuxoMarcas de luxoRedes sociaisPerceção do consumidorLuxury industry have been perceived incompatible with digital technology for many years. The present dissertation purposes to understand how a digital strategy can coexist with a luxury one, assuring the respect for the brand fundamentals. Since there is an important trend of growth in the sales of luxury products through digital channels, and apps, it is essential to understand in depth the consumers' preferences and motivations while buying luxury goods or services online, in these. To investigate this topic in more detail, a survey was conducted in order to understand the perception, motivations and preferences towards luxury as a more globalized and digitalized sector, and their openness to buying these products through digital channels. The theoretical perspectives on this matter are extensively discussed in this thesis to understand how a digital strategy can influence a luxury brand's performance, and how relevant it is to include the digital tools in the brands' strategies. Research states that the profile has been changing in the past few years, being now, on average a younger consumer, leading to a change in his consumption patterns. In 2025, millennials are expected to represent 50% of the market, and Generation Z 8%. For this reason, it is key to understand what they expect from luxury brands, since they will be the big share of the pie in about five years. Consumers nowadays value more the experience, the proximity with a brand that they can relate to, making them feel understood, connected and unique. 75% of people already have a digital influence, partial or full, in their purchase experience of luxury. The quality of the product, the exclusivity of the product/service, social and environmental responsibility of the brand, the value of the product/Service perceived by others, social media presence, the engagement with Influencers and collaborations with other brands, revealed as the most important factors when choosing a luxury brand.A indústria do luxo foi considerada incompatível com a tecnologia digital durante muitos anos. A presente dissertação visa compreender como uma estratégia digital pode coexistir com uma de luxo, garantindo o respeito pelos fundamentos e princípios da marca. Tendo em conta que existe uma clara tendência de crescimento nas vendas de produtos de luxo por meio de canais digitais e aplicações moveis, é essencial entender em detalhe as preferências e motivações dos consumidores ao comprar bens ou serviços de luxo "online". Para investigar com mais detalhe o tema, foi realizada um inquérito "online", com o objetivo de compreender a perceção, as motivações e as preferências dos consumidores em relação ao luxo como um setor mais globalizado e digital, e sua abertura para a compra desses produtos e serviços pelos canais digitais. As perspetivas teóricas sobre este assunto são amplamente discutidas nesta tese para entender como uma estratégia digital pode influenciar o desempenho de uma marca de luxo e como é relevante, ou mesmo essencial, incluir as ferramentas digitais na estratégia das marcas. O perfil do consumidor das marcas de luxo tem vindo a sofrer profundas alterações, sendo agora, em média, um consumidor mais jovem, o que conduz a uma mudança nos seus padrões de consumo. Em 2025, prevê-se que a geração dos "Millennials" represente 50% do mercado e a Geração Z 8%. Deste modo, é fundamental entender o que eles esperam das marcas de luxo, já que serão a grande maioria do mercado dentro de cinco anos. O consumidor, atualmente, valoriza mais a experiência, a proximidade com uma marca com a qual se relaciona ou identifica, fazendo com que se sinta compreendido, conectado e único. 75% das pessoas já são influenciadas pelos canais digitais, parcial ou totalmente, nas suas experiências de compras de bens ou serviços de luxo. em sua experiência de compra de luxo. A qualidade do produto, a exclusividade do produto / serviço, a responsabilidade social e ambiental da marca, o valor do produto / serviço percebido pelos outros, a presença nas redes sociais, o envolvimento com os "Influencers" e as colaborações com outras marcas, revelaram-se como os fatores mais importantes ao escolher uma marca de luxo2021-12-22T00:00:00Z2020-12-22T00:00:00Z2020-12-222020-11info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/21947TID:202609596engFerreira, Leonor Picciochi Goesinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:48:44Zoai:repositorio.iscte-iul.pt:10071/21947Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:23:49.041121Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Go digital or go home: the digital transformation of luxury brands
title Go digital or go home: the digital transformation of luxury brands
spellingShingle Go digital or go home: the digital transformation of luxury brands
Ferreira, Leonor Picciochi Goes
Luxury
Luxury brands
Digital
Social media
Consumer perceptions
Luxo
Marcas de luxo
Redes sociais
Perceção do consumidor
title_short Go digital or go home: the digital transformation of luxury brands
title_full Go digital or go home: the digital transformation of luxury brands
title_fullStr Go digital or go home: the digital transformation of luxury brands
title_full_unstemmed Go digital or go home: the digital transformation of luxury brands
title_sort Go digital or go home: the digital transformation of luxury brands
author Ferreira, Leonor Picciochi Goes
author_facet Ferreira, Leonor Picciochi Goes
author_role author
dc.contributor.author.fl_str_mv Ferreira, Leonor Picciochi Goes
dc.subject.por.fl_str_mv Luxury
Luxury brands
Digital
Social media
Consumer perceptions
Luxo
Marcas de luxo
Redes sociais
Perceção do consumidor
topic Luxury
Luxury brands
Digital
Social media
Consumer perceptions
Luxo
Marcas de luxo
Redes sociais
Perceção do consumidor
description Luxury industry have been perceived incompatible with digital technology for many years. The present dissertation purposes to understand how a digital strategy can coexist with a luxury one, assuring the respect for the brand fundamentals. Since there is an important trend of growth in the sales of luxury products through digital channels, and apps, it is essential to understand in depth the consumers' preferences and motivations while buying luxury goods or services online, in these. To investigate this topic in more detail, a survey was conducted in order to understand the perception, motivations and preferences towards luxury as a more globalized and digitalized sector, and their openness to buying these products through digital channels. The theoretical perspectives on this matter are extensively discussed in this thesis to understand how a digital strategy can influence a luxury brand's performance, and how relevant it is to include the digital tools in the brands' strategies. Research states that the profile has been changing in the past few years, being now, on average a younger consumer, leading to a change in his consumption patterns. In 2025, millennials are expected to represent 50% of the market, and Generation Z 8%. For this reason, it is key to understand what they expect from luxury brands, since they will be the big share of the pie in about five years. Consumers nowadays value more the experience, the proximity with a brand that they can relate to, making them feel understood, connected and unique. 75% of people already have a digital influence, partial or full, in their purchase experience of luxury. The quality of the product, the exclusivity of the product/service, social and environmental responsibility of the brand, the value of the product/Service perceived by others, social media presence, the engagement with Influencers and collaborations with other brands, revealed as the most important factors when choosing a luxury brand.
publishDate 2020
dc.date.none.fl_str_mv 2020-12-22T00:00:00Z
2020-12-22
2020-11
2021-12-22T00:00:00Z
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