Customer experience is an essential tool for establishing a strong relationship between the lifestyle brand and the increasingly connected consumer where convenience, hyper-personalisation, authentic storytelling, seamlessness play vital roles throughout the whole customer journey and in turn generate increased loyalty and revenue growth. Brands can enhance customer-centric strategies through evolving digital technologies and big data analysis.
This report comes in PPT.
Established brands are understanding that digital engagement is key to generating lifestyle appeal with consumers. Moving forward, the most successful companies will blur the lines of digital and physical to create omnichannel lines of communication and engagement, creating more meaningful, lasting relationships with their customers for long-term benefit.
Brands are expected to increase integration with consumer lifestyle with product and services evolving beyond their current areas of specialisations. This would see tech companies diversifying into daily life solutions and devices such as integrated appliances, airlines extending into related services such as online travel sites and apparel brands into home and lifestyle brands. Thus, growing into a lifestyle brand instead of a business is expected to be a key strategy to win markets.
Every touch-point across the customer journey matters and needs to be seamless. Offering genuine experiences with the help of hyper-personalisation allows brands to combat commoditisation from over-choice, creating a positive feedback loop for loyalty. Therefore, price is no longer the single most important factor.
A large number of companies are investing in IoT to create a full ecosystem outside a consumer’s home, matching their lifestyle and enhancing their experience. All formats are being invested by lifestyle brands to retain customers, with smart wearables, fashion apparel or digital wallet.
Although price is still a factor for shoppers, consumers increasingly demand products to be organic and sustainably sourced. This has encouraged a shift towards local and ethical sourcing. As major global brands set up bold sustainability commitments to reformulate products and categories to meet consumer demands and support local communities, these value stories will become a key part of brand narratives.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!