As the demographic of luxury consumers continually shifts to a younger and more digitally connected generation, Digital and CX leaders in the luxury industry are turning their attention to strengthening the digital experience, and delivering a true concierge experience across all channels whilst maintaining an exclusive shopping experience.
Luxury is all about beauty, craftsmanship, and exclusivity. Brands must focus on how to create a strong digital experience that embodies their brand, where consumers are unable to feel, touch, and taste that product without being in the store."
– Ken Kralick, Moët Hennessy
Luxury brands have been crafted on a long legacy of detail and careful curation, but with the passage of time often comes legacy technology and data locked in silos, which can be a killer for digital innovation.
Digital innovation is critical to meet the evolving needs of luxury consumers and stay relevant to market change, but the demand for new digital experiences combined with a tech stack of siloed data means only one thing - lengthy and costly integration projects for developers. This restrains digital teams, costs the business money, and leaves you lagging behind competitors.
Luxury brands turn to Composable Architecture to break free from legacy technology
To empower their teams with the time and the functionality they need to fuel new creative digital experiences, luxury brands are moving to a Composable Architecture to easily transform their legacy technologies into more fast moving and flexible solutions!
A Composable architecture is an ecosystem of individual systems sharing their data via APIs. Each system has clear responsibilities and could be self-hosted, powered in a cloud platform or even offered as a full SaaS-solution. Read more in our quick guide to Composable Architecture
Gartner® predicted that by 2023, “organizations that adopt an intelligent, composable approach will outpace their competition by 80 percent when it comes to the speed of new feature implementation”. A compelling argument that would be hard for most opportunistic companies and digital teams not to be allured by. Gartner also predicts that 60% of organizations seek composability in new application investments by 2023.
This modular setup enables a business to rearrange and reorient as needed depending on external or internal factors like a shift in customer values or sudden change in supply chain or materials.
Cartier is a great example of this
With a Composable tech stack, Cartier have found a stronger and easier way to unify their customer, content and context data through individual APIs that are created to serve unique and innovative frontend experiences.
They have launched new digital experiences at record speed, enhancing omnichannel service for both their clients and their employees, resulting in improved sales journeys. See how Cartier built with Occtoo
“We are doing a lot of creative innovation that requires data. If we had built experiences the traditional way our time to market would be at least 4x slower. Not only are we now faster to market but our costs to build these experiences has lowered dramatically”– Thomas Davis, Cartier
How to fast forward your Composable journey
While going the Composable way offers you the benefit of making all of your data highly available in various APIs and ready to be consumed by developers, it also means that you now have your data spread out over various APIs, in different formats, and in shifting scalability for your developers to handle, interpret and combine.
An Experience Data Platform is a key component in a Composable architecture to provide a unified data layer sitting on top of your system of records. You use it to connect all the data from different systems and then you only need one interface to fuel the data to your frontend layer, making it a seamless experience for your customers. By using Occtoo’s Experience Data Platform, you can leap frog into a Composable state, reaping all the benefits of speed and agility without having to swap out your existing stack. Read more about this in this article.
Your digital team becomes empowered to quickly deliver digital initiatives, making sure that the concierge experience also transcends into the digital experience.
Occtoo is an Experience Data Platform that supports retailers and brands to build relevant digital experiences and applications at rapid speed. Occtoo’s Cloud-Native platform makes it easy to access and unify enterprise data from backend systems such as CRM, ERP, PIM, etc. and combine it with behavioral and contextual data to create relevant digital experiences that can be deployed in any channel or frontend in real-time at a global scale. Occtoo was founded in 2019 and are certified by the MACH Alliance.
If you don’t want to see competition ship digital initiatives 80% faster than you and risk falling behind, reach out today and we’ll explain how you can take your first quick steps in this direction.