How does the Gen Y luxury customer consume information? Would they buy a big-ticket item online? Are they being targeted through the right channels? We ask Tze Tze all these questions and more
Where do you get your information on the latest watch and jewellery product launches and trends?
Lam Tze Tze (LTT) A lot of the information I receive regarding product launches and trends come from the brands themselves, be it directly or indirectly, via print and online sources.
How do you consume luxury news and launches online?
LTT Both social media and websites. Instagram and Facebook make it quick and convenient to keep up with the latest news and launches. I follow the Instagram accounts of Cartier, Bulgari, Chanel, Dior, Christie’s, Graff, Chopard, Harry Winston, Piaget and Van Cleef & Arpels to name a few, and of course, @SgTatler! I also consume luxury news via websites such as Singapore Tatler, the FT’s How to Spend It and a variety of other local and foreign publications.
Do you think the digital landscape has altered the purchasing experience?
LTT Definitely. The development of big data analytics in our generation is allowing brands to customise and deliver personalised content, and various digital platforms are available for luxury brands to connect with their customers. As a result, the relationship between luxury brands and their consumers are a lot closer than before, but this also means brands have to manage customers demanding an almost immediate need to satisfy their needs (or should I say wants!).
Say if I was reading about a new watch on a website, and I wanted to source for more information. I would go onto its website or Instagram account and/or WhatsApp with my family and friends if I wanted an opinion, and/or WhatsApp with a brand’s private client manager to ask for more information. This sort of interaction could happen within a very short span of time, and my decision to purchase the watch would be a result of this interaction.
(Related: Chadwyn And Tara Tann: How Social Media Changed The Luxury Conversation)
Read the full story in the August issue of Jewels & Time, out on newsstands now.
Darren Gabriel Leow
Sha Shamsi/Indigo Artisans using Sebastian Professional
Cheryl Ow/Indigo Artisans using Parfums Christian Dior