2021 has brought with it new consumption habits and ways of doing things. And if there is a common denominator for all these changes, it has been digitization. Also in the luxury sector, in which the digital transformation is having a great impact and where it will be more necessary than ever for professionals to be up-to-date with how the processes and work methodologies, the sales channels, and even the products. , they’re changing.

To respond to this market need, VOGUE and The Valley have jointly launched the Executive Master in Luxury Digital Transformation, a program created with the aim of training innovative executives and managers to lead the digital transformation of the luxury sector.

The first edition of this program that is taught in face-to-face and online part-time format will begin in November 2021 and will consist of 150 teaching hours distributed in 10 modules that include master classes as well as workshops, visits, debates and case studies by the hand of the best professionals and the main premium brands on the market.

The union of The Valley and VOGUE for the creation of this program is based on the expertise and long history that both partners have in the topics of this training: on the one hand, digital transformation and innovation, and on the other, luxury.

The Valley has been working for more than 10 years to respond to the urgent need for employability that exists in the digital field through the creation of an education model focused on solving people’s challenges, at the same time as meeting their needs. the business fabric in everything related to digital transformation, something that has been possible thanks to its constant innovation, its innovative training methodologies and its various service areas such as the headhunter The Valley Talent or the innovation center The Place, that allow you to always be at the forefront of the latest digital trends.

For its part, VOGUE is the most famous publishing brand in the world of fashion, a synonym of authority and style that has crossed the borders of the medium to become a true icon of the culture of our time. Its ability to connect with audiences, as well as to advance the keys to new social and consumer habits, make the brand a fundamental agent in the industry.

Juan Luis Moreno, Chief Innovation Officer at The Valley and Professor of the Executive Master in Luxury Digital Transformation of the same center, affirms that “2021 is presented to us as a radically different scenario, where competitors, rules and consumers have changed.

The world of luxury does not has been indifferent to this great change, and hence the importance that new leaders understand and assume the keys to digital transformation for a sector as demanding, competitive and emblematic as this is. sector obtain specialized and updated training to the new digital environment to have the knowledge and skills that the new environment demands “.

The director of Condé Nast College Spain, Ana García-Siñeriz affirms: “Vogue has always been a key agent in the evolution of the luxury industry and has promoted, advanced and accompanied its evolution and changes for more than one hundred years.

Today, more than ever, it leads and explains the changes in a transforming industry and serves as a guide to its partners and advertisers who see the brand as the beacon of security and authority they need in the digital world. Vogue is always ahead, also in terms of of training as evidenced by its alliance with The Valley, whose prestige and disruptive vision goes hand in hand with the advanced character of a brand that is a reference and guide for the industry. “

The impact of digitization on the luxury industry
How has digitization really impacted the luxury industry? The experts of the digital ecosystem The Valley summarize it in 3 trends:

  • A new customer experience, more digital, but with the same quality: In all sectors the customer experience is increasingly directed towards digital and virtual, a trend made possible thanks to disruptive technologies. In this sense, the luxury industry faces the challenge of offering the user an innovative, exclusive and quality experience, but in the digital environment.

Some examples already real include the possibility of trying on makeup or lipsticks from home through augmented reality or taking virtual tours of the hotels before visiting them.

In this area, new communication and interaction formats between brands and customers are also included, such as interactive eCommerce, digital influencers or holograms, trends that can be seen first-hand in the new technological itinerary “

It is a tour that allows attendees to know and interact with the journey that a brand makes from its creation to its impact on users through new communication channels and advertising media, such as interactive shops and windows. , virtual dependents or sensory experiences.

In short, while the physical experience will continue to be fundamental for the luxury industry, the key is for companies to be able to complement the physical with the digital to satisfy the needs and desires of their audiences.

It is a tour that allows attendees to know and interact with the journey that a brand makes from its creation to its impact on users through new communication channels and advertising media, such as interactive shops and windows. , virtual dependents or sensory experiences.

In short, while the physical experience will continue to be fundamental for the luxury industry, the key is for companies to be able to complement the physical with the digital to satisfy the needs and desires of their audiences.

  • Disruptive and exponential technologies as the backbone of the new industry model: the luxury market is immersed in a process of radical change to adapt to the new digital economy. The application of disruptive and exponential technologies is now a reality in all business processes, from marketing to the creation of new luxury products or services that meet the market’s demands for exclusivity and innovation.

In this sense, one of the technologies that has gained more prominence in the sector has been Big Data, which allows brands, among other things, to be able to know their audiences, where they are, what they are looking for or what channels they use, in order to to be able to make decisions based on objective results and to offer its users the most personalized content and offers possible. In this sense,

  • Professionals capable of adapting and innovating in the new changing environment: the digital economy paints a completely innovative landscape for the sector. And in this sense, it is essential that companies adopt new work models that respond to the volatility and complexity of this new environment.

New models and more agile, efficient, flexible and collaborative work processes come into play, a more horizontal and participatory leadership or the imminent need for professionals in the sector to have the digital capacities and skills to innovate in the business and respond to the demands of the digital user.

For this, continuous training is presented as the only viable solution to guarantee that teams are always at the forefront with the latest trends and that they can thus lead the reinvention of the luxury sector and achieve business objectives. For it,

A market in unstoppable growth
The market for luxury products and services has seen tremendous growth in the last decade. According to data from Statista, in 2020 the value of the world market for luxury personal items was 217,000 million dollars, 30% more than its value in 2010 (167,000 million dollars).

While it is true that it is an industry in which the leading role has been the experience of shopping in physical stores and with highly personalized attention, the panorama is now moving towards a greater number of digital experiences that, among other things, allow to reach wider audiences regardless of their location, also meeting the needs of the post-pandemic consumer. In addition, although this market has experienced, due to the pandemic, a certain drop, as has happened with other sectors.

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