Maddie Raedts is Founder & CCO at IMA || Global Head of Social for Fashion & Luxury at MediaMonks || Forbes 30 Under 30.
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Fashion and luxury provide the ultimate platform for aspiration, with the most iconic fashion houses having stood the test of time by continually innovating to speak to the moment and shifts in culture. But with digital technology interwoven in every aspect of modern life, culture moves faster than ever.
One of the most fascinating cultural shifts I’ve witnessed is the convergence of fashion and digital experience, as the pandemic challenged brands to reach audiences across the globe in novel and compelling ways that appeal to the masses without betraying their exclusive air and authenticity. The industry quickly turned to technology, tapping into the metaverse to bring their collections to life while unlocking a new range of creative expressions along the way. In Balenciaga’s Afterworld game, for example, virtual avatars presented the label’s collection, making the luxury brand one of the first to embrace virtual reality as our inevitable future.
However, the rise of the metaverse isn’t the only important digital development in this era of virtualization. While social media has long been (and still is) the way brands can connect with fans and facilitate two-way conversations, they are experiencing pressure to give more and more to an ever-diversifying audience with high expectations. Simultaneously, social platforms such as TikTok are moving the power of conversation away from brands and toward consumers.
So, an important question I ask myself these days is, how can we use technology to extend and amplify the real-world experience online while keeping our community engaged and connected?
The metaverse, also known as myriad possibilities
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As the pace of consumer engagement accelerates, brands need to break out of business-as-usual and into new playing fields. However, they have to think carefully about where technology will be most useful in fueling creative innovation and strengthening community ties.
While the recent return of in-person fashion weeks signifies the industry’s need for physical events, fashion and luxury brands are by no means abandoning the digital experience. On the contrary, many are capitalizing on the metaverse moment, securing plots of digital land for Decentraland’s first-ever Metaverse Fashion Week. The digital experience is not a substitute but rather a supplement to fashion shows, giving creative directors the opportunity to lift the veil and share the story behind the collection to bring the audience closer to their vision. The mind reels with possibilities, as the rise of the metaverse has prompted brands to think beyond their social feeds and adopt a mindset focused on collaboration and immersion.
Disruptive immersive experiences are pushing the industry forward. Think of Moncler’s MONDOGENIUS 2021 fashion show, which can be seen on a bespoke digital platform that takes users through five cosmopolitan cities on a journey interwoven with thrilling performances. Virtual production techniques, live and real-time events and mixed reality experiences can challenge creative directors to venture out of their comfort zones and transform the moment of the collection reveal—and it’s all happening in the metaverse, where users around the world come into play.
Web3 is the way to win your community’s love forever
The power of conversation has long been in the hands of brands. However, culture is created online nowadays, with younger generations such as Gen Z redefining the way we gather together, discover and engage with brands and shape our identities. This shift has given rise to partnerships between creative directors and consumers, using social listening to understand the perception of a brand and how its story is told.
While fashion and luxury brands used to be in complete control of creating fashion culture, they now collaborate with influencers and other taste-makers to connect with consumers. However, with the pace of consumer engagement accelerating, brands need to start thinking beyond social media marketing to allow for more user contribution in the long run. This circles back to my question: How can we secure long-term relationships with consumers across the globe?
Joining the Web3 revolution is the short answer. As Wired explains, “platforms and apps built on Web3 won’t be owned by a central gatekeeper, but rather by users, who will earn their ownership stake by helping to develop and maintain those services.”
Web3, a decentralized online ecosystem built on the blockchain, facilitates unique experiences and consumer activations to ensure the continuity of community engagement. Adidas, for instance, has launched its own POAP NFT, a digital collectible to reward users for their loyalty to the brand.
This cultural shift is all about letting consumers contribute to creating your brand experience, as Web3 essentially entails a reward system in which consumers develop a much deeper connection with a brand by taking part in the creative process. As we enter the next era of the internet—one governed by the collective—Web3 takes a bottom-up approach and builds on the influencer marketing model by adding the layers of immersive experience and equal participation.
While fashion and luxury brands have historically been trailblazers, technology is now catching up. The future of fandom will be more transparent, inclusive and, above all, led by the people, and it is coming to life as we speak. The time is now for brands to break out of traditional models and not only start rewarding fans but truly include them in the creative process of building the brand experience.
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Author: Maddie Raedts, Forbes Councils Member
