MonteNapoleone District and Deliverti outline future digital guidelines
Artificial intelligence, augmented reality, omni-channel and customer retention. These are the new challenges on the frontier of digitalization, in a luxury market that continues to grow, a world that is becoming increasingly digital and with companies that must adapt their strategies to be able to maintain and increase their competitiveness.
The collaboration between MonteNapoleone District - an association that brings together over 130 Global Luxury Brands active in via Montenapoleone, Sant'Andrea, Verri, Santo Spirito was born from the attention to the evolution of the context and the proximity to the jewelery and haute horlogerie brands , Gesù, Bagutta and San Pietro all'Orto and the 5 Star Luxury Partner Hotels - and Deliverti - a company specialized in the development of e-commerce strategies - with the aim of helping the Associates operating in the sector to face the digital market, transmitting all the uniqueness that historically characterizes the universe of luxury goods.
The Deliverti Observatory - MonteNapoleone District estimates the value of the global online jewelry market for 2020 to be $ 21.5 billion, which is preparing to reach a revised size of $ 58.9 billion by 2027, with a growth of 15.5% in the period 2020-2027.
The situation is different for the luxury watch sector, where only 5% of brands sell through online channels. However, with over 60% of brands determined to focus on omnichannel to reach a wider audience and seize incredibly profitable business opportunities, online sales are also set to grow, especially if placed in a context where e- commerce in just one year has doubled its weight in the luxury market, going from 12% in 2019 to 23% in 2020.
From the analyzes of Deliverti - MonteNapoleone District it also emerges that in March 2021 the total searches on Google for the main brands of jewelry is 204,020, with a growth rate of 68% compared to 12 months earlier.
For watchmaking, the volume of searches in March 2021 stood at 432,600, with a growth rate of 41% over the same period of the previous year. In both cases, the data confirm a return or even an overcoming of the interest of users in the sector to pre-Covid-19 levels.
Guglielmo Miani, President of MonteNapoleone District, commented: "In a rapidly changing context, jewelry and fine watchmaking must face digital challenges to preserve brand awareness and reach new consumers. During this difficult period, our companies, stimulated by the epidemic, have made large investments to keep up with the times, demonstrating resilience and social responsibility in the search for ways and spaces to connect with their customers that were unimaginable before. Today, more than ever, it is in fact necessary to rethink one's identity and heritage in order to give top-of-the-line and practical functionality to luxury without compromising its exclusivity ».
«The luxury market is one of the most responsive to this moment of change. There is great interest from the public and a desire to interact with brands using digital channels, from ecommerce to tailor made customer care. We also find greater interoperability than other sectors between the world of boutiques and digital devices, which must talk to each other and ensure a unique customer experience. Whoever manages to intercept these new needs will be able to ensure solid growth for the future of the business ”», adds Giulio Cupini, General Manager Deliverti.
Federica Frosini, Editor in Chief VO+