The direction of commitment is at the heart of the expectations of luxury customers.

In the interview series “Welfare Review of the Year”Eric Briones, Managing Director of Journal du Luxe, invites many industry professionals to speak on the topics that moved 2021.

Stephane Trocchi is a well-known player in the luxury sector. He has developed study methodologies that have become benchmarks for major companies in this sector and support market leaders in France and abroad on their strategic issues. It has made Ifop, which he has run since 2008, a major player in the sector. Passionate about this universe, he regularly reveals key indicators of the profession in the context of speeches, conferences, publications and partnerships with key players in the sector.

Eric Briones

What assessment can we make of well-being in 2021?

Stephane Troche

Record Sales and Exceptional Stock Market Performance… The luxury goods market has once again shown its amazing resilience and resilience. Big houses have been able to adapt quickly to the crisis by attracting new young consumers through digital and online shopping. It is clear that the Covid crisis has not escaped the luxury sector and has had strong effects on certain sectors, especially tourism and retail travel. But the dual effect of the democratization of luxury, especially thanks to digital and electronic commerce, and the ability of luxury to evoke desire and redemptive dreams in moments of stress and pressure caused by crisis, has enabled luxury brands to regain their power. Momentum from the first months of 2021.

Eric Briones

Who are the “winners” and “losers” in the world of luxury this year?

Stephane Troche

As after any crisis, the winners are often the strongest and most international. This crisis will weaken small businesses and lead to industry consolidation. But beyond this impact traditionally observed through various crises, the winners will be those who have managed to adapt quickly to the digital revolution that has accelerated through confinement and that has profoundly and permanently changed the lives of consumers and how they interact with brands in their purchasing behavior.

This crisis will also awaken and activate consumer awareness about the future of the planet, and brands that do not integrate a responsible attitude can be victims of falling in love.

Eric Briones

What is the definition of luxury in 2021

Stephane Troche

in the United States of America ? Digital lifestyle and luxury.

in France ? Basic and heritage luxury.

in England? Eccentric and unrestrained luxury.

In Italy ? Family luxury in a remodel.

In China ? Legal and addictive luxury…

And for all countries, very luxurious.

Eric Briones

What luxury luxury trend do you see triumph in 2022?

Stephane Troche

The direction of commitment is at the heart of the expectations of luxury customers. A commitment from luxury homes on all levels: an environmental commitment of course, but also a societal commitment and CSR. To be desirable, a luxury brand must commit to and engage with its customers in strong approaches that are coherent with the brand’s DNA.

Eric Briones

Who will win the luxury war between Cartier and Tiffany & Co.? ?

Stephane Troche

It is a war that will be based on a mixture of the values ​​of history and modernity. The legend and iconic value of Cartier versus the marketing and creative power of Tiffany…. A beautiful duel of leaders who will each have to find their place in a declared battle for the Haute Joaillerie. I don’t see a winner but rather a great dynamism in a market that needed this new challenge to revitalize desire.

Eric Briones

Is there a place for luxury in Metaverse?

Stephane Troche

It is clear that the pandemic and confinement have activated virtual behaviors and the search for digital creativity. Gameplay must be integrated into digital behaviors in luxury homes. So luxury has its place in the metaverse, provided that brands play it brilliantly and intelligently. A new way to create special bonds with younger generations and stand out from dominant or distant positions to attract tomorrow’s customers. The real question that remains is monetization.

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