How can brands and retailers best survive — and thrive — in this turbulent decade? Chris Sanderson, chief executive officer of The Future Laboratory, outlined some key strategies.
Realize there is a flattening of ages.
“When we look at life expectancy and we look at population, we have to start to rethink age,” he said, explaining on one hand independent living is among people’s greatest desires. And they want to be young.
“We’ve got people starting off their careers [and] people …supposed to be retiring, and they’ve both often got very similar attitudes,” he said. “You can’t define consumers by age anymore; it’s about mind-sets and common values.”
A “generation-less” approach is therefore important.
There’s also the convergence phenomenon. Sanderson spoke of the “phygital,” or melding of physical and digital, plus a change in data and peoples’ relationship with it. The merging of technology and “big, friendly data is going to be doing some very interesting things for us as brands and as retailers in the months and years to come, which is predictive and preemptive retailing,” he said. See Complete Coverage of the WWD Beauty CEO Summit Here >>
Sanderson noted in today’s overloaded world there’s a “moving to extremes,” such as “five-two lifestyles” entailing five days of cutting back and two of binging, for instance. “As consumers, we’re pushing ourselves toward extremism.”
With all this in mind, The Future Laboratory teamed with Givaudan, Campaign Design and Selfridges to create the in-store Fragrance Lab, which eliminates consumer choice and instead — after people go through an experience-oriented process — prescribes tailor-made scents for which consumers pay up front.
“Fragrance Laboratory is…a journey into the outer reaches of scent, and it’s also an exploration that helps you to discover the essence of one’s self,” said Sanderson.
He called it an investigation of the future of retail.
“What [consumers] need is for you to be a pathfinder brand,” said Sanderson. “They need you to show them the way.”
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
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Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews