UNDERSTANDING THE EVOLUTION
In the recent Experience Economy, businesses and brands curated memorable encounters, thus the ‘experience’ became the product. Consumers are desperate to connect with themselves in a world filled with digitized and artificial intelligence experiences.
The Evolution of Luxury
Brands that can offer them a meaningful route to that soulful luxury will be the ones that stay ahead of the game.
In the most recent evolution, often referred to as the “Transformation Economy,” consumers now seek more than the mere experience. They crave something authentic and meaningful — some call it the “soul” of the business — which they can connect to on the most personal level. And, in doing so, they undergo an actual sense of transformation or experience of self-actualization.
In the Transformation Economy consumers have opened up to a new global consciousness: one that makes them question, not only provenance, ethicality and integrity but also – importantly- authenticity and meaning.
Your clients and staff will experience deeper emotional engagement while your brand value, leadership position and communication will flourish – all with a healthy impact on the bottom line.
This new normal and desire for deeper connection cannot be franchised nor can it adopt a “one-size-fits-all” approach. This is the differentiator. It is intensely personal and relies on two things:
1. An active and interested consumer
2. An awareness-driven willingness of the brand to adapt to the client and be part of the new mindset shift
This adaptation can only come from a place of deep and genuine understanding and intent on the part of the brand, its leaders, and employees. It is only when this shift is truly ‘felt’ by the consumer, that they can then connect to the brand and product on a deeper level.
This evolution guides the consumer beyond mere ‘experience’ to a place where they benefit from a soulful relationship with the brand – a connection that results in a dialogue and co-creation. These interactions are highly personalised and the subsequent value that is generated powerfully bonds brand to consumer in a highly competitive market. Soul Luxury will help you shift from a business mindset to an emotional understanding to ensure you remain at the forefront of business success in today’s rapidly changing world.
Real life Examples from the business world
- Lifestyle -
Engineering personal experiences
Engineering personal experiences – with the potential to transform individuals – has become integral to Nike’s business strategy, evident at their March 2016 NYC launch of HyperAdapt 1.0, VaporMax Air cushion and Nike+ app. Nike calls it a “new area of sports – the era of personalised performance”.
- Sharing Economy -
Airbnb are taking the lead, digitally creating an environment of community engagement: connecting hosts and travellers for a deeper more meaningful and authentic local experience.
- Luxury Hotel -
recognising the need to transform
Thailand’s award-winning Kamalaya Wellness Sanctuary exemplifies a growing number of properties that – even in the world of wellbeing – are recognising the need to transform introducing an “Embracing Change” programme that guides their guests to fulfill their purpose and potential.