HOW WILL THE LUXURY EVENT INDUSTRY DEVELOP POST COVID-19?

Global confinement has resulted in one of the biggest impacts in the event organization sector, canceling all face-to-face actions of the brands, experiences with their clients, training sessions and product and service launches, among others. An accelerated recovery is expected due to a certain rebound effect and the desire to interact face-to-face, but with strict measures implemented and a new vision, changing the traditional paradigm of events.

Sanitary measures

The first events will be tested with very small capacity, signage marking the safety distances and providing attendees with basic hygiene actions such as masks and gels. Break times will replace any type of buffet or catering with an even more tailored service, ordered instantly and without being prepared for the public.

Extension to digital platforms

Without the need to end the face-to-face event, it will innovate with digital platforms to reach a greater critical mass in large events, allowing them to follow up virtually, in case of being in another location or even reluctant to face-to-face. The offered content will be extended through video, live stream, reinforced services such as digital simultaneous translation in many more languages to increase its dissemination. Online translators avoid additional costs and factors such as transportation, subsistence, space occupied at the event with translation booths, and allow translators to facilitate their service digitally, being able to include even more languages. In short, it will tend to resume and enhance face-to-face events so as not to lose the quality debate and interaction that this format presents, but with a greater impetus to its digital dissemination. If Travel for Business will decline without punctual meetings, these may be transferred to online conferences. In the fashion sector, firms such as Gucci, Chanel or Dior have already extended Fashion Shows to their Live Collections in their latest collections, collaborating with platforms such as Weibo. Online interviews or conferences have also allowed brands to get closer to their Brand Ambassadors, celebrities and public figures, reinforcing their exposure and communication with them through more personal interviews in RRSS. Balmain recently offered a live Q&A, delving into the creation of his latest collaboration with Beyoncé.

Last minute and flexibility

Within the offer and contracting of events, a more flexible stance should be adopted, facilitating the online or face-to-face booking of the client at the last moment, in an even more VICA era (volatile, uncertain, complex and ambiguous). The cancellation conditions should be reconsidered to convey the absence of risk in these delicate moments, streamlining decision-making and reinforcing consumer confidence in our company. This will suppose a new look at the structure and organization, having to develop events in record times and considering on the plan always relocation alternatives in many cases depending on the number of attendees.

Free valuable content Brands have turned to offering quality content to a consumer who was looking for their support, entertainment and connection in difficult moments of confinement. All the initiatives, workshops, demonstrations, conferences that have resurfaced in this pandemic should be maintained at specific times to continue reinforcing the link between the client and the brand, covering relevant issues with which they feel identified and continue to provide real value to them. Many beauty firms have offered online makeup masterclasses, wineries in the wine sector have exhibited live pairings, in fashion, Houses such as Loewe have shown the behind the scenes of artisans and artists, taking us to their homes or workshops investigating in his techniques and unique savoir faire.

Authenticity and experiences

Experiences positioned before Covid-19 as key in the Customer Journey and the positive impact on the sale of the product or service will have to turn towards a more authentic and measured approach. Luxury brands will have to focus on those experiences, which raise their brands perception, narrate their Storytelling and focus on the purpose, values, heritage and foundations to remain relevant to a demanding consumer with high expectations.