Luxury and Technology: the beginning of a new era

Bain and Company is a Consultancy Company that has made the report ‘Luxury and Technology: the beginning of a new era’. This report tells us that the main fashion houses in the industry are testing or will test NFTs and the metaverse by 2025.

The physical stores of luxury brands create a much more enriching shopping experience than the the online stores. However, new technologies such as NFTs and Metaverse can provide relevant advantages for the sector. The Metaverse allows the creation of virtual stores more in line with the creative world of the brand; while NFTs allows the creation of products and collections, unique pieces or digital duplicates.

The report predicts that billing through these technologies will account from between 5 and 10%. Nowadays, the main objective of these brands is to offer an impeccable customer experience by which, you get to know your customer perfectly. Thanks to these technologies, this customer and shopping experiences can be benefited exponentially. We cannot deny that luxury and technology go hand in hand.