LSN : Daily Signals : Stat: Luxury consumers want to shop in the metaverse

Calm broadcasts the power of micro-movements

Daily Move by Calm

US – Recognising the importance of even the smallest acts of physical activity to bolster wellbeing, the meditation app is introducing a short-form daily video movement series. The videos, which are about five minutes long, focus on connecting the mind and body through slow movements rather than intense bursts of exercise. The activities feature elements from yoga, tai chi, pilates, stretching, dance and walking.

The series, entitled Daily Move, intentionally avoids hard-hitting fitness stereotypes, making sure the movements can be done in a short time and without specific goals in a decelerated approach to mental and physical wellness. ‘Our hope with Daily Move is to give members a way to build accessible, daily habits around movement that can be done in a few minutes, at any point in your day – while you’re brewing morning coffee or winding down after work,’ reads a statement by Calm.

In this way, Calm is tuning into the shift towards Emotional Fitness – a trend we explore in Synchronised Care. As consumers continue to better align their wellbeing needs, services such as Daily Move will become integrated into our routines.

Strategic opportunituy

Both media and wellness brands alike are equipped to create accessible, short-form content that positions micro-acts of fitness as part of people’s daily routines

Sourcewhere sources rare fashion with a personal touch

Sourcewhere

London – Catering for time-pressed fashion consumers, Sourcewhere is a resale app that connects customers searching for rare archival items with verified sellers who can source what they’re looking for.

As the resale market continues to flourish, sourcing archival pieces from past collections is becoming a more common pursuit among discerning fashion consumers. But finding specific items can be labour-intensive and time-consuming. Sparing consumers from trawling through resale sites, Sourcewhere connects shoppers with a range of approved sellers who can procure the desired items.

To use the platform, shoppers request what they are looking for, and they then receive a ‘match’ notification when they are paired with a seller. The network features stylists, personal shoppers and private collectors that have been approved by the Sourcewhere team, ensuring item authenticity.

As flaunting hard-to-find treasures becomes the ultimate flex among luxury shoppers, Sourcewhere is promising to simplify the often arduous process of finding desirable pieces online. Embracing the resale as service model, the app optimises the customer experience of the contemporary luxurian, aligning itself with the principles of Feedback Frontiers.

Strategic opportunity

As the resale market continues to grow, fashion companies have a chance to experiment with blockchain technologies to create proprietary resale networks that permit them to profit from the secondary market

StockX welcomes NFT trading to its marketplace

UK – Aligning with growing demands for virtual assets, the streetwear marketplace is introducing non-fungible tokens (NFTs) to its offering. Through its existing platform, users can buy and sell NFTs in the same way they would with physical items.

When customers buy StockX’s Vault NFTs that correspond to physical sneakers, for example, instead of receiving the actual items, buyers get an NFT to certify their ownership.

These NFTs can then be transferred directly between users, meaning there are no shipping or delay costs. StockX also offers owners the option to exchange their NFT for the physical sneaker that it’s tied to. Through this development, the marketplace recognises the shift towards digital ownership over physical collections.

While we’ve been tracking the evolution of online sneaker hubs, StockX shows how industries centred around hype have an opportunity to delve into the world of NFT trading as an alternative form of ownership.

StockX Vault NFTs, Global

Strategic opportunity

Introducing digital ownership can allow brands to offer more a sustainable alternative to relying on physical products – and logistical costs

Stat: Luxury consumers want to shop in the metaverse

Gucci and Farfertch, Global

As the metaverse continues to dominate headlines, a small study by Klarna shows that luxurians are receptive to shopping in virtual worlds. Among consumers who have heard of the metaverse, 70% express interest in shopping for luxury products there.

Perhaps unsurprisingly, younger generations are the most receptive to the experience, with 76% of Millennials and 69% of Generation Z expressing interest in shopping for products in these realms. ‘A new generation of younger, digitally savvy luxury shoppers are emerging, with new preferences about how they shop and pay,’ explains David Sykes, head of North America at Klarna.

While we've already started to see luxury brands enter this space, retailers will need to find creative ways to showcase the quality of their products in virtual worlds.

Strategic opportunity

Shopping experiences that merge the physical and the digital are a good way to introduce the concept of the metaverse to customers. Consider incorporating digital assets in physical retail destinations