“Emotion: that is definitely what brands are seeking to inspire in their customers today,” remarked Anne-Sophie Scharff, Head of Strategic Planning at Digital Luxury Group. Against this backdrop, “We are hearing more and more about customer experience, in which exclusivity plays a vital role,” added Clara de Pirey, Global Luxury Director at Nelly Rodi. “The aim is to go beyond the product itself by promoting a certain ‘lifestyle’ that is exclusive to the brand and in line with its DNA.” “That also involves hospitality,” pointed out Matthias Fuchs, Assistant Professor at EHL Hospitality Business School. “Over the past few years, the luxury industry has witnessed such an explosion in demand that today, companies need to take their customers to the next level, by inviting them to enter the brand’s unique world. But that doesn't mean that all watch boutiques need to become cafés...”

“In a company’s overall strategy, creativity is therefore key to its success,” added Clara de Pirey. “The idea is to guide the brand towards new creative areas such as art or entertainment.” And perhaps, as Matthias Fuchs suggested, brands can orchestrate the process so that their product is seen as an investment, by launching new collaborations or building up a strong presence on the secondary market, for example. On this basis, ideas surrounding sustainable development can only come into play if they are considered to be a standard of excellence. This is an essential condition according to Clara de Pirey, who also pointed out that sensitivities to these issues differ from market to market. While customers from the United States are generally more receptive to the social aspects involved in sustainability, European consumers are more interested in environmental issues and the product life cycle.

To respond to these challenges, brands must know their customers. “Brands believe that they have this aspect covered, which is actually not true,” revealed Clara de Pirey. “It is not only about ‘big data’ but also about interaction with consumers.” A process that obviously requires time and, most importantly, according to Matthias Fuchs, highly qualified staff. “Otherwise, how can brands convey a message of exclusivity?” he argued. This exclusivity must take in the whole brand and be recognised by communities with the same interests, on an international scale. Exclusivity can be nurtured by creating an increasingly immersive customer experience, as Anne-Sophie Scharff pointed out, involving more and more technology.