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The retail ecosystem: a pre-pandemic perspective eCommerce is already gaining ground before the COVID 19 Ignore the future of retail for a minute. Way before the pandemic was declared, penetration of online retail was already quite high and on a growing trend, fostered by huge investments in apps and digital tools that aim to minimize consumers’ needs to interact with reps or try on each product...

The rise of sneaker culture: a billion dollar industry Ever since the XIXth century, sneakers have been more than just shoes. They represent a cultural statement, a way of communicating identity, class, race, principles and status. The movement is getting so much attention that the world developed a term for enthusiasts that collect and trade sneakers - sneakerheads...

Mass customization is a technique that makes manufacturing processes flexible enough to produce products according to precisely what the customer wants while keeping costs at a low level. This concept makes the most of both personalization and mass production, which leads to a cost-efficient manufacturing system. Introduction From hammering nails into individual tools to a massive number of identical cars in a matter of minutes, the industrial revolution has brought us a long way...

Multibrand luxury stores have been focused on marketing innovation and creating new digital shopping experiences. One of the names that has made an impact on the landscape has been Farfetch, the British-Portuguese fashion retailer founded in 2007 by José Neves, an entrepreneur known for his activity with fashion start-ups. The concept behind Farfetch is to create a structure that would bridge the gap between physical and digital retail by supporting luxury brands worldwide...

E-commerce and online luxury shopping is growing rapidly Based on estimates from Internet retailers, worldwide online sales of luxury personal goods were projected to reach $33.9 billion in 2018, 21% more than in 2017, according to the Luxury Retailer Report. This meant that the increase in digital commerce was significantly higher than the 7% growth projected for the industry as a whole...

What is NFT? NFTs, or non-fungible tokens, are unique digital assets like digital artworks and music, which is tracked through blockchain (a digital ledger) and thus cannot be reproduced or interchanged. NFTs are created by uploading a file to a specific auction market, such as Rarible, OpenSea, KnownOrigin. Once this is done, the piece may be bought with cryptocurrency and resold...

Gucci is reinventing itself by creating digital content and digital products Marco Bizzari as CEO and Alessandro Michele as Creative Director, Gucci has managed to implement a marketing strategy targeted at Generation Z, i.e., the group of consumers with apparently low buying powers but high influences. According to Forbes, Sarah Willersdorf, Partner and Managing Director at BCG said that, while these young audiences only represented 4% of the world’s overall luxury consumption in 2018, the percentage was bound to double by 2020...

Artificial intelligence in marketing According to research, global AI spending is said to reach $77.6 billion by 2022, while its business value, as estimated by Gartner, is expected to reach $3.9 trillion. In addition, the state of AI by McKinsey shows that 50% of companies interviewed have adopted AI in at least one business function, mainly in service operations, product or service development, and marketing and sales...

Virtual try-on catching on? Virtual try-on technology enables customers to try on products using their camera equipped devices such as mobile phones. With the help of Augmented Reality, users may contextually visualize the item in which they are interested, interacting and confirming the style, the size and the fit before making a purchase...

What is user-generated content? User-generated content (UGC), also known as user-created content (UCC), is any form of content that is posted by netizens on digital platforms, such as social media and collective databases and websites. UGC has been an important tool for the online environment ever since the early 2000s, when Wikipedia, the most successful collaborative encyclopedia, was created...