On November 29, Luxury Forward, the first conference on luxury and digital was held in Paris under the helm of Céline Lippi and Fred & Farid agency. On this occasion, a startup contest was organized, and daco was selected as a finalist company. Even though we did not win the first prize, we were very proud to pitch and introduce our solutions:
A few days later, on December 6, a “Forum de la Mode” (Paris Fashion forum) was held, which also triggered extremely rich debates. These two events allowed the sharing of a large number of ideas and fundamental messages. We also believe they will contribute to the consolidation of a true #RetailTech / #FashionTech ecosystem in France.
We have selected 6 key insights from the livetweet we organized during these two days !
1 – Fashion in France accounts for 2.7% of GDP
Audrey Azoulay, Minister of Culture and Communication, confirms the weight of the fashion industry at the Forum de la Mode:
“La concurrence sera demain toujours plus forte, la France doit rester devant avec 2,7% du PIB concernés” @MinistereCC au #ForumDeLaMode
— daco (@daco_io) 6 décembre 2016
2 – No new China or Japan for the luxury market: the challenge is no longer about opening new stores, but to have the right offer, at the right price, with the right customer experience
During his introductory keynote, Olivier Abtan, partner of the luxury practice at BCG, recalls that the luxury market is now entering a new era, with growth rates of 1-2% vs. 8% organic growth in the old days. He adds :
3 – 80% of customers discover products online -regardless of final purchase channel
This figure ranges between 70 and 80% between the fashion and cosmetics markets. But Axel Adida, Digital COO at L’Oréal, confirms:
“80% des clients découvrent nos produits de #Luxe en ligne, et 30% achètent en ligne” – Axel Adida @Loreal #LuxuryForward
— daco (@daco_io) 29 novembre 2016
Thus, it becomes crucial for a company to align its online offer with those of the physical stores, because their sites are now both showcasing space and sales channel for their customers.
4 – Digital transformation of retail industries must be carried out smoothly
Even if the theme of digital transformation is often accompanied with more and more overused words such as “disruption” or “uberisation”, we remain convinced that a successful appropriation of innovative digital tools by teams can and must be made in a harmonious and progressive way.
A stake shared by Anne-Véronique Baylac, Chief Data Officer at Séphora and confirmed by Axelle Lemaire, Secretary of State for Digital and Innovation:
5 – Data is the new oil
Our ambition at daco is to create for you the best “extraction platforms” to better understand your competitive environment!
Pierre François le Loüet, CEO of Nelly Rodi, and Pascal Morand, Executive President at the French Federation of Couture, Ready-to-Wear / Fashion Designers and Couturiers add:
6 – Deep learning, the next technological revolution for retail
All is said 🙂 Do not hesitate to contact us !