How Web3 can Boost Luxury Fashion Sales
From CNBC to Vogue Business to Reuters, the expert analysts have spoken: luxury sales are down.
Hugo Boss reported a second-quarter sales slump of 1% (a cool billion euros), with brick-and-mortar retail revenue down another 3%.
Kering, Gucci's parent company, reported a 50% drop in net profits, while sales have slumped 11% to €9 billion. Gucci, Kerring's star child, dropped 19% in Q2.
The LVMH side of the jewel-encrusted collar is also feeling the squeeze, with slower sales due to decreased Q2 spending among Chinese consumers.
How can web3 help ease the mid-year woes of some of the world's largest luxury brands?
Brick & Mortar 🤝 Meet the Metaverse: While Gen Z might, perhaps unknowingly, be rekindling Mallrats nostalgia, the days of brick-and-mortar are mostly in our rearview. Web3 technology blurs the borders between physical products, experiences, and their digital counterparts, putting less pressure on brands to fill physical spaces. This benefit can spread a brand’s product real estate with less overhead. Build smarter, not harder.
Customer retention 🤝 Customer Acquisition: Brands often obsess over acquiring new customers, glossing over the value of giving current customers more ways to engage (and spend) across multiple channels.
As a peer-to-peer technology with immutable (unable to be changed) data flows, brand-owned technology, and an emphasis on digital ownership, there’s simply a bigger sandbox for brands to retain customers in web3.
Add in multi-phased drops, dynamic NFTs that change per customer actions, and an emphasis on open communities — web3 is a powerful approach to keeping people flying your brand’s flag.
Customization 🤝 Avatars: What better way to keep your customers focused on your products than to give them the tools to make them their own?
Welcome, the avatar: the core of consumer customization. Across virtual worlds like Sandbox, Roblox, and TENCENT, brands like Gucci, Prada, Nike, Adidas, and Valentino are finding smarter ways to empower their customers — and sell digital assets.
Whether it's avatars or community-driven co-creation opportunities, investing more in virtual products and experiences is another high-value lever of the consumer brand machine. Use it wisely.
Want to learn more about how web3 can improve your brand’s customer retention? Fill out this form.
See more available articles
.png)
How Mojito is Powering the Toledo Museum of Art’s Second NFT Drop
We caught up again with the museum's CEO to hear how they're leveraging Mojito's tech stack to engage new audiences.
This past spring, we had the honor of collaborating with the Toledo Museum of Art (TMA) on the Sankofa Carnival: a digital art experience that showcased a three-part collection of digital works from artists Osinachi and Yusuf Lateef.
This Mojito-powered activation marked TMA’s triumphant first foray into NFTs, where the institution seamlessly adapted to web3 technology, engaging its audience in a narrative about how art can connect people across cultures.
Now, on the heels of the Sankofa Carnival success, we’ve partnered with TMA once again, this time to present House of Yatreda: an immersive, multi-sensory exhibition by Yatreda ያጥሬዳ, the digital artist collective based between Ethiopia, Kenya, and the United States.
House of Yatreda — which will also spotlight Ohio-based painter Jordan Buschur — will be open to the public at TMA through November 10. As another exhibition that features a limited-time open edition minted on-demand exclusively at TMA, House of Yatreda is a testament to the melding of physical and digital art, and traditional art institutions adopting cutting-edge initiatives powered by Mojito's invisible web3 technology.
To check in on how TMA is feeling about the burgeoning new paradigm they've entered into, we spoke with Sophie Ong, the Assistant Director of Strategic Initiatives for the Toledo Museum of Art, and Adam Levine, the President of Edward Drummond and Florence Scott Libbey and Director and CEO of Toledo Museum of Art.
How Web3 can Boost Luxury Fashion Sales
Three ways web3 help ease the mid-year woes of some of the world's largest luxury brands — LVMH, Prada, Gucci, and more.
From CNBC to Vogue Business to Reuters, the expert analysts have spoken: luxury sales are down.
Hugo Boss reported a second-quarter sales slump of 1% (a cool billion euros), with brick-and-mortar retail revenue down another 3%.
Kering, Gucci's parent company, reported a 50% drop in net profits, while sales have slumped 11% to €9 billion. Gucci, Kerring's star child, dropped 19% in Q2.
The LVMH side of the jewel-encrusted collar is also feeling the squeeze, with slower sales due to decreased Q2 spending among Chinese consumers.
.png)
Who’s hungry for zero-party cookies?
Welcome to the future of personalized consumer data.
Camilla McFarland isn't just a crypto OG who's been making moves onchain since 2013; she's also an advisor and member of Mojito's founding team, who's long been at the forefront of brand innovation in web3.
What better person to wax onchain poetic on the future of brands in web3 at one of the industry's largest global gatherings: EthCC?
Following her talk last year on Big Brands & Web3: NFTs and the consumer brand revolution, Camilla took the stage this week in Brussels to drop some more alpha on brands making moves onchain in a new talk, Zero-Party Cookies: the future of personalized consumer data.
