Artefact’s team of experts share their field experience and precise observations through this well-documented report, rich in lessons learned and concrete use cases.
- The Luxury Market faces challenges that also unlock opportunities for transformation. Brands can leverage digitally-augmented experiences, streamlined communication campaigns, and sustainable “pull” models to predict consumer demand while aligning with environmental goals.
- Key strategies include using GenAI to enhance productivity in design and customer support, applying AI at scale to optimize marketing and inventory, and adopting modern BI tools for data-driven decisions. These approaches empower luxury players to achieve profitable growth and stand out in a competitive landscape.
Table of content
- Introduction : Sluggish growth driving luxury players to use data & AI as a performance lever
- Chapter 1: The luxury industry is undergoing a paradigm shift
- Factor 1: Online touchpoints impact consumer purchasing decisions more than ever
- Factor 2: Customer preferences are shifting towards greener brands
- Factor 3: Generative AI is bringing new capabilities while fostering brand elevation
- Chapter 2: Five success factor for luxury business transformation that leverage data & AI
- Success factor 1: Identify the right client
- Success factor 2: “Prescribe” the right product offerings
- Success factor 3: Make sure each euro is wisely spent through immediate AB testing on incrementality
- Success factor 4: Create tool-empowered omnichannel experiences with Augmented Customer Advisors
- Success factor 5: Adopt a continuous improvement approach to support business excellence (standardisation, accessibility, etc.)
- Conclusion: A three-step approach to data & AI transformation in luxury
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