LSN : Daily Signals : Byredo uses NFTs to spotlight the craft of perfume

This concept kitchen comes with a sustainability coach

GRO concept by Electrolux, Stockholm

Sweden – A concept kitchen by home appliance company Electrolux is setting a new standard for sustainable eating. GRO is a kitchen system that uses sensors and artificial intelligence to deliver personalised eating and nutrition suggestions.

The system, which was created using behavioural science research findings, is intended to encourage more sustainable eating habits. A countertop smoker, steam oven, grill drawer and fermentation pantry are just a few of the modules of the GRO system, which can be completely customised to suit a consumer’s preferences.

The device will also feature a touchscreen with the GRO Coach digital system that will deliver meal suggestions, goal-setting, nutritional and cooking coaching, and progress-tracking. To encourage climate action, the system will also visualise the user's eating habits and how they directly affect the environment.

What’s more, the kitchen can also analyse a customer’s food inventory and provide recommendations based on what’s in the refrigerator, avoiding food waste. While we have seen home appliances that use the Internet of Things to build Connected Kitchens, AI-powered sustainability coaches could be a significant development in this market.

Strategic opportunity

While the GRO kitchen is still a concept, could home appliance companies create phone apps that offer similar services?

Playful pain relief inspired by psychedelic rock

Dr Milo identity by Mac & Toni, US

US – Hemp wellness brand Dr Milo is responding to the gap in the market for visually appealing pain relief products. Its hero product, a topical pain relief serum, features bright red and yellow accents on an aluminium tube. Meanwhile, vibrant typography helps the serum stand out amid the clinical aesthetics of similar medical products.

Through these visual cues, the brand aims to inject a sense of joy and positivity into the realities of managing chronic pain. ‘Our target was to create a more fun pain relief tube with a 1970s vibe for the older generation while staying poppy and fun,’ says the brand. ‘Our primary stacked logo is a custom font, our wave design was inspired by an Australian psychedelic rock band and the bright red poppy brand colour was inspired by the red cross to convey healing.’

We’ve been tracking the evolution of the Pain Management Market in recent years, identifying innovations for specialist products and alternative care services.

Strategic opportunity

When targeting older consumers with health and wellness products, don’t be afraid to balance certified medical information with bold packaging and communications

Byredo uses NFTs to spotlight the craft of perfume

Sweden – Perfume company Byredo and digital fashion start-up RTFKT are teaming up to create a digital scent that pays tribute to the hand-crafted origins of perfume. The AlphaMeta collaboration features NFTs that include both physical and digital assets.

The two companies collaborated with Paris-based design agency M/M to visually represent 26 ingredients that express feelings of naivety, harmony, acuity and virtue. Customers can then use these ingredients, which have been minted as NFTs, to create their own unique scents. Benoit Pagotto, the co-founder of RTFKT, describes this process as mixing together ingredients ‘like potions in video games’. The limited-edition, customised fragrances will then be produced, allowing consumers to wear their own formula.

While we have seen Digital Fragrances entering the beauty sector for some time, this collaboration shows how technology can be used to unlock consumer creativity and shed a light on the hand-crafted history of perfume production. ‘A single scent is incapable of representing this virtual world, so we formulated a lexicon of elements that collectors can combine at will to make something entirely unique,’ says Ben Gorham, founder and creative director of Byredo.

Byredo in collaboration with RTFKT, US

Strategic opportunity

For consumers who don’t have much experience with digital collectibles, phygital NFTs might be more attractive. Take inspiration from Byredo and create a digital asset that can be exchanged for a physical object

Stat: European Generation Z are investing in fake luxury

Mulberry, UK

While fake luxury goods have historically had a bad reputation, new research reveals that many young Europeans are embracing counterfeit goods. According to a study by European Union Intellectual Property Office (EUIPO), more than half (52%) of 15–24-year-olds living in the EU say they have purchased at least one fake item online in the past 12 months.

A total of 37% have bought at least one fake product intentionally over the previous 12 months, while an equal proportion have done so unintentionally. The highest proportion of respondents (17%) purchased knock-off clothing and accessories, followed by footwear (14%), electronics (13%) and beauty products (12%). Interestingly, 24% believe there is no difference between genuine and counterfeit goods.

This rise in purchasing fake goods is primarily due to costs, with inflation and sky-high living costs meaning that customers are seeking Aspirational Fakes to maintain their personal sense of style.

Strategic opportunity

Given this embracing of fake products, luxury brands must focus on customer touchpoints that can’t be replicated – such as branded spaces, experiences and expert customer service