Fashion

What’s next for fashion and luxury in APAC: Vogue Business event in Singapore


Zalora CEO Gunjan Soni added that the APAC region has been highly receptive to new experiments such as NFTs. She stated that Zalora is “bullish” about pursuing technological innovation and staying ahead of the curve. A lot of its loyal consumers are millennials, but incoming consumers from Gen Z have very different demands, making strategies such as personalised promotions key to cultivating loyalty.

Saurabh R Gupta, global head of sales for consumer, wellness and healthcare at Citi, agreed that hyper-personalisation is becoming more and more important, and spoke about the “internet of senses”, a trend that sees digital interfaces becoming more experiential and emotional . He also spoke about localised habits and how they can make or break sales: for example, the payment or checkout systems people are accustomed to, whether that’s Paynow in Singapore, Promptpay in Thailand or Wechat in China.

Zalora’s Soni shared her insights about how the transformation of the internet infrastructure in the region has enabled ecommerce to take off over the last seven years, expanding from accepting three payment options to adding around 18 different wallets or buy-now-pay-later options. Taiwan and Hong Kong have been leaders for these types of technologies, and Southeast Asia more broadly. Meanwhile, Zalora finds that the Philippines has always been the fastest adopter of social tools, so they treat this as an experimental market for social commerce. She also mentioned that luxury consumers are by far earlier adopters of newer technologies.

Thinking more about supply chain and authentication, Le Gal spoke about how Vestiaire Collective is working to implement newer blockchain technologies to help scale up authentication and help manual authenticators become more efficient in their processes. Citi’s Gupta spoke further about some of the shiner technologies entering the market, citing DressX, which had a presence at the event, as a solution provider that brings doorstep connectivity to products being sold online.

The final panel was hosted virtually by Yiling Pan, editorial director for Vogue Business in China. In a hybrid format, we were joined by Zhou Rui, brand solutions general manager at Xiaohongshu (Red), and Jean-Philippe Pokern, head of marketing for APAC at sporting goods firm On, while Paul Harris, MD of APAC for McLaren and Anusha Couttigane participated from the live stage. Together, they spoke about the outlook for China and the different approaches brands are taking between East and West.

.

About the author

admin

Leave a Comment