How to grow via premiumisation
This article is part of a series of articles on premiumisation. Read more.
When we’re thinking about luxury experiences and e-commerce, we must inevitably feel the tension that this thought produces as these two worlds are based on very different principles. On one hand, the online world is based on efficiency, measurement, predictability, complexity, functionality and utility. On the other hand, we have the world of luxury where the human essence meets the best that life has to offer – beautiful dining experiences, lavish lifestyles, impeccable design, hand-crafted products and the great legacy of both big international houses and small bottegas whose heritage dates back centuries.
“Online” isn’t an entirely different discipline or domain to luxury experiences, it’s just an extension of experiences helping us achieve things we aspire to through adopting different sets of channels and behaviours. Luxury e-commerce still needs to be centred on the one thing that matters most in consuming any products and experiences: human beings. They need to develop an understanding of whom these people are, what they value and why and how they prefer to consume the things that they value in a way that makes the experience most enjoyable and salient to them. To create and deliver real value, you need to start looking at the value you create holistically.