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Alright, so there’s this brand new study by Vogue Business and Google, right? They found that using AI in brands can seriously amp up the way consumers see them, increase brand loyalty, and even make people spend more. They surveyed a whopping 2,976 luxury fashion consumers from the US, UK, Italy, and France to see how AI tools impact their perception of brands and whether it affects their buying decisions.
Now, here’s the interesting part. They identified three mindsets among consumers: purists, expressionists, and activists. Each group has their own values and priorities that influence their shopping choices. The researchers dig into these values and beliefs to help brands understand how AI can change the game for each group and affect brand perception and consumer behavior. They also figure out when in the purchasing journey AI comes into play and discover new opportunities for AI in the future.
Let’s break it down further. Purists are all about tradition, authenticity, and fine craftsmanship. They’re the connoisseurs who appreciate refined garments. For them, AI solutions like personalized deals and recommendations really hit the spot. In fact, 37% of them say personalized deals would make them more likely to buy, and a whopping 62% are into recommendations. Talk about potential revenue boost!
But it turns out that personalization isn’t just for purists. It actually works for all three mindsets. Almost half of consumers (47%) are willing to spend up to 20% more on personalized in-store shopping experiences. And a solid 33% are ready to pay up to 10% extra. So, it’s a win-win for brands!
Now, let’s move on to the activists. These guys care about sustainability, social impact, and all those good things. They’re drawn to brands that share their values and are into that whole “buy less, buy better” philosophy. Over half of them (51%) are into durability and classic styles that contribute to less waste. And get this, 26% of activists splurged over $5,000 on luxury fashion in the past year, while a whopping 72% spent over $2,000. These folks know how to make a statement!
And guess what? These activists are willing to spend even more on brands that align with their values using AI. Around 31% of all surveyed consumers are ready to pay 20% or more for sustainably designed clothing, and that number jumps to 36% among activists. They’re all about supporting brands that do good for the planet.
Last but not least, we have the expressionists. These guys are all about standing out, being unique, and showcasing their individual style. They believe that AI can actually enhance design and even improve sustainability. And get this, 72% of expressionists are willing to pay extra for garments that use generative AI for top-notch design. They’re all about that next-level fashion!
So, there you have it, folks. AI is changing the game for brands, consumers, and the whole fashion industry. It’s all about personalization, sustainability, and pushing creative boundaries. The future is looking bright, my friends. Stay tuned for more exciting developments!