Projet en english luxury

English luxury project: Innovative start-up idea description

The health crisis of 2020 connected to the COVID-19 had the heaviest impact on two business sectors: automotive and luxury. The luxury brand market is currently facing several serious challenges A large amount of business transactions has become impossible due to the current situation. A big number of shops has faced bankruptcy, because of the restrictive measures and the fear of the population.

We are thus searching for an innovative idea to help retail points to continue functioning in these strict conditions. Our marketing team has come up with the idea of creating a digital retail store, equipped with innovative technology mirrors, offering the possibility of trying clothes on in a digital way.

The idea consists of creating offline retail stores equipped with smart mirrors capable of visualizing the body of a person considering its parameters (weight/height/measurements) and of projecting the desired clothes on the body; afterwards the desired clothes can be purchased directly in the store and delivered to the buyer in the shortest terms. This innovation would allow sellers to create the retail points that avoid producing big crowds and provide luxury brands shopping experiences at the same time. Moreover, from the economical and environmental points of view the retailers owning such kind of stores would be more profitable comparing to its direct competitors operating on the same market, as they would economize on transportation fees, which would allow to have a smaller margin and would be more profitable in an economical way. And last, but not least, it would be great in terms of hygiene, as this way of retail would allow to avoid direct contacts with clothes and as follows minimize sanitary risks.

It is however of note that regardless of multiple advantages that this idea would possibly bring into the life of the retailers and buyers, there are still several flaws to this plan that appear to be pretty important to the marketing team. Among these we could list the difficulty of integrating this idea in the modern society which approves of being more interested in online shopping than in retail and only chooses the second option in order to “feel” the clothes and be able to see it on themselves in reality. In this case, despite of being extremely realistic, our technology couldn’t guarantee bringing the same feeling of enjoyment to the customers preferring shopping in retail stores. In addition, it would be hard to promote this business idea to the large successful retailers known on the market as setting the system would require very important investment and devotion. Moreover, it would be even harder to get the potential target audience to visit new stores and try the new technology as it would suppose complete change in customer’s purchasing habits and would require several revolutionary modifications in their perception of shopping as it is. Thus, it would be challenging to put this idea to work, even though it seems perfectly reasonable and “up to date”.

To conclude, we would like to note that the idea of creating a completely different and innovative approach to luxury shopping such as digital screen mirrors allowing to try desired items on without actually doing it would be profitable to the sellers in multiple ways, it would still be extremely complicated to make it a commonly used technology. However, our team likes to think that one day our economy level and the mindset of the population would allow it.

Thank you!

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