3 IMMERSIVE IDEAS THAT PROVE EXPERIENCES ARE THE NEW LUXURY

This year’s Ministry of Ideas has given us even more industry-redefining discussions and debates than ever before. With one ear to the ground, THE SHIFT has been keeping tabs on the key trends that all luxury brands need to be taking note of.

Everywhere we look, accumulating experiences, not things, is the new luxury: the more immersive, unique and multisensory, the better. This new luxury was on everyone’s minds at this year’s Ministry of Ideas: here are four box-fresh takes on how brands can build beautiful – and impactful – experiences, as explored in three of yesterday’s electrifying panels. Traditionalists take note…

Erin Muscatelli and Carlos Joao Parreira delve into olfactive branding in Monday’s panel
  1. Scent is the new sound

“You can have the most beautiful space with the most wonderful music, but if you’re not controlling the smell of a place, you’re not controlling the emotional experience anyone is having.” So says Dawn Goldworm, professional Nose and co-founder of olfactive branding agency 12.29 – and more than any other sense, scent speaks to everyone on a primitive level that is staggeringly emotive. Curating the perfect scent for their hotel, event space or workplace can drive up brands’ ROI; make customers feel connected and secure; and reinforce their philosophy and ethos – all with a single smell.

Loose Threads CEO Richie Siegel prompts a curious crowd to reconsider retail

2. Offline retail is the new e-commerce

From mass mall closures to derelict shopfronts, retail – as we traditionally know it – is in crisis. On the flipside, experiential retail is thriving: think Farfetch; think Glossier; think House of Vans – just three examples of brands who are transforming the way we shop now. For panellist Richie Siegel, CEO of consumer consultancy Loose Threads, going offline is not enough: for bricks and mortar to prevail in 2018, it must be matched by a seamless digital campaign.

3. Transformative travel is the new standard

The future isn’t near, it’s here: Generation Z (born between 1995 – 2010) are snapping at the heels of Millennials, and they’re demanding even more individualised, immersive travel experiences. For this digitally native cohort, travelling to find themselves isn’t enough – for it to truly resonate, it has to be transformative; what happens once they return home is almost as important as the experience itself.

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Lucy Shave
Beyond Luxury Media Ltd's Content Executive, Lucy is a cat lady partial to peanut butter, American roadtrips and true crime podcasts - preferably all at the same time.

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