• Title/Summary/Keyword: Luxury brand

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Analyzing Key Factors for Metaverse Investment: A Perspective from Fashion Brand Companies (메타버스 투자를 위한 주요 요인 분석: 패션브랜드 기업 관점)

  • So-Hyun Lee;Mi-Jeong Na;Sang-Hyeak Yoon
    • Journal of Information Technology Services
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    • v.23 no.2
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    • pp.63-81
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    • 2024
  • With the advancement of Information and Communication Technologies (ICT) and Artificial Intelligence (AI), the metaverse has emerged as a transformative model across various sectors, offering a three-dimensional virtual world where activities mirroring the real world occur. This study delves into the significant factors influencing fashion brand companies' investments in the metaverse, an evolved concept from Virtual Reality (VR) that extends beyond gaming to include real-life activities through avatars. This study highlights the surge in virtual fashion engagements, as evidenced by increased avatar updates and purchases of digital fashion items on platforms like Roblox. Luxury brands are steadily entering the metaverse indicating a new revenue stream within the fashion industry. This study employs a mixed-methods approach, integrating text mining and interviews to identify key factors for fashion companies considering metaverse investments. By proposing strategies based on these findings, this study not only enriches academic discourse in fashion, e-commerce, and information systems but also serves as a guideline for fashion companies aiming to navigate the burgeoning digital market, contributing to the generation of new revenue streams in the fashion sector.

Examining the Functions of Attributes of Mobile Applications to Build Brand Community

  • Yi, Kyonghwa;Ruddock, Mullykar;Kim, HJ Maria
    • Journal of Fashion Business
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    • v.19 no.6
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    • pp.82-100
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    • 2015
  • Mobile fashion apps present much opportunity for marketers to engage consumers, however not all apps provide enough functions for their targeted audience. This study aims to determine how mobile fashion apps can be used to build brand community with consumer engagement. Qualitative data on fashion mobile apps were collected from the Apple app store and Android market during the spring and summer of 2015. A total of 110 fashion mobile apps were collected;, 50 apps were identified as apparel brands that either manufacture or sell apparel to consumers, which we categorized as "brand" fashion apps, and the remaining 60 were categorized as "non-brand" fashion apps. The result of the study can be summarized as below. The 60 non-brand fashion apps were grouped into 5 app types: shopping, searching, sharing, organizational, and informational. The main functions are for informational use and shopping needs, since at least half (31 apps) are used for either retrieving information or for shopping. However, in contrast, social networking and location were infrequent and not commonly utilized by these apps. The most common type of non-brand fashion apps available were shopping apps;, many shopping apps enable users to shop from several different websites and save their items into one universal shopping cart so that they only check out once. Most of these apps are informational and help consumers make more informed decisions on purchases;, in addition many offer location services to help consumers find these items in store. While these apps perform several functions, they do not link to social media. The 50 brand apps were grouped into 5 brand types: athletic, casual, fast fashion, luxury, and retailer. These apps were also checked for attributes to determine their functionality. The result shows that the main functions of brand fashion apps are for information (82% of the 50 apps) as well as location searching (72% of 50 apps). Conversely, these apps do not offer any photo sharing, and very few have organizational or community functions. Fashion mobile apps and m-marketing elements: To build brand community, mobile apps can be designed to motivate consumer's engagement with brands. The motivations of fashion mobile apps are useful in developing fashion mobile apps. Entertainment motives can be fulfilled with multimedia attributes, functionality motives are satisfied with organizational and location-based features, information motives with informational service, socialization with community and social network, learning and intellectual stimulation from informational attributes, and trend following through photo sharing. The 8 key attributes of mobile apps can correspond to the 4 m-marketing elements (i.e., Informative content, multimedia, interactions, and product promotions) that are further intertwined with m-branding elements. App Attributes and M-Marketing aim to Build Brand Community;, the eight key attributes can impact on 4 m-branding elements, which further contribute to building brand community by affecting consumers' perceptions of brands preference and advocacy, and their likelihood to be loyal.

A Qualitative Study on Risk Reduction Behaviors in Purchase Process of the Counterfeit of Fashion Luxury Brands - Focused on Risk Reduction Behaviors on Psychological Risk Perceptions -

  • Kim, Il
    • Journal of Fashion Business
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    • v.9 no.3
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    • pp.22-36
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    • 2005
  • This research is to classify psychological risk perceptions in purchases process at counterfeit at fashion luxury brands, into a risk perception on purchase activity itself and a risk perception on the post-purchase situation, and to analyze types and characteristics at risk reduction behaviors to reduce each risk perception. In this research a qualitative method was employed, and research-related data were collected and analyzed through in-depth interviews. Results were shown that risk reduction behaviors at psychological risk perception on purchase activity itself included rationalization of purchase, accompanied purchase, reduction and discontinuance of purchase, and that risk reduction behaviors of psychological risk perception on the post-purchase situation included information search, establishment of selection criteria, establishment of marginal limit, selective purchase, planned and compared purchase, and reduction and discontinuance of purchase. Previous researches suggested brand loyalty, selection of famous brands, utilization of information agents by marketers, pre-purchase usage and guaranteed purchase, but these risk reduction methods were not utilized, this probably being interpreted as a result of characteristics of counterfeit. In addition, risk reduction behavior of one type tended to reduce risk perception of several other types, and risk reduction behaviors of various types were utilized to reduce a certain type's risk perception. Not only types of risk perception but also levels of risk perception appeared to have exerted influence to risk reduction behaviors.

Corporate Marketing Strategy Using Social Media: A Case Study of the Ritz-Carlton Seoul

  • Lee, Jung Wan;Kwag, Michael
    • The Journal of Asian Finance, Economics and Business
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    • v.4 no.1
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    • pp.79-86
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    • 2017
  • With the increasing trend of popularity of websites and social networking sites, it is quite evident that companies need to take cautionary measures in protecting the reputations with respect to company and brands. In this process, every company should indulge in enhancing their company and brand image through websites and social networking sites that fortify the bonding nature among them. The always-on nature of websites and social networking sites has contributed to their phenomenal marketing power and altered the balance of power between consumers and firms. Websites and social networks are used by hundreds of millions of people to communicate about a huge range of topics, including personal interests, activities, social events and even public issues. The paper explores a case study of the Ritz-Carlton hotel for their marketing strategy and organizational use of their website and social media in communicating with their customers. Even for the normal luxury traveler who would not have previously used the Internet to research a hotel or make a reservation, ritzcarlton.com is making it possible for them to do so in a sense of the luxury and typical Ritz-Carlton style. It seems to be a staple of the company for years to come.

A study on the up-cycling characteristics of the marquage paintings in contemporary fashion (현대패션에 나타난 마카쥬 기법의 업 사이클링 표현 특성)

  • Han, Yeon-Hee;Kim, Jung-Sook
    • Journal of the Korea Fashion and Costume Design Association
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    • v.21 no.2
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    • pp.139-151
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    • 2019
  • This study intends to present the directions for effective up-cycling design using Marquage painting through analysis of trends and the formative characteristics of fashion products. Research was conducted through a literature review (published papers, books and web site contents). Cases were analyzed by examining the contents of web sites of global luxury brands, representative workshops, and social network sites (SNS). The results of the study are categorized as follows, First, Marquage paintings are continuously used by global luxury brands and have developed as an expression of self-ownership and the personalization of one's identity. Second, fashion brands use Marquage painting as a customized service for sales. On the other hand, Marquage paintings are used as a kind of up-cycling to present old goods as brand new ones. Third, the patterns used in Marquage painting were classified into five types: geometric patterns, logo patterns, character patterns, lettering patterns, and art patterns. Moreover, formalization by Marquage patterns is represented by identification, customization, and up-cycling. Finally, to up-cycle the expressive features of Marquage- sustainability, scarcity, storytelling, and originality based on factors of up-cycling need to be reflected.

Revitalizing Department Store Shopping Value and In-store Experiences: A Case Study on Debenhams and Selfridges

  • Claridge, Christina;Hur, Eunsuk
    • Journal of Fashion Business
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    • v.25 no.6
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    • pp.81-101
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    • 2021
  • Traditional department stores have been struggling to attract customers for several years. Many retail stores have closed in recent years, even before the COVID-19 pandemic. The reinvention of in-store shopping value and experience is imperative to attract customers and reinvigorate retail business. The purpose of this study was to discover which in-store components can improve customer experiences and loyalty while also identifying dissatisfaction issues in consumer experiences in department stores. The data was collected from two consumer groups-luxury department store (Selfridges) customers and mid-market department store (Debenhams) customers-to identify the types of value and experiences they seek most often. The findings showed that to enhance their store patronage, Debenhams should reposition their brand image in a way that allows customers to connect with their self-image and lifestyle by improving efficiency and convenience and prioritizing the utilitarian and social value types. By contrast, Selfridges should enhancetheir store atmosphere, visual merchandising and sensory experiences by maximizing slow retailing experiences and emphasizing the aspirational self-concept image for symbolic and hedonic value. This research uncovered the existence of numerous overlappingvalue dimensions, each of which contributed to the enhancement of the others. Several young customers expressed their support for ecologically responsible, cost-effective second-hand luxury products. Instead of focusing merely on conventional value dimensions, department retailers should determine how environmental and ethical objectives can be fulfilled. This study explained how department stores can craft their in-store environments to appeal to their customers' preferred value types to ensure success in a competitive market.

A Plan to Vitalize the Companion Animal Fashion Market using Domestically Produced Fabrics

  • HyeSook Park
    • International Journal of Advanced Culture Technology
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    • v.11 no.3
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    • pp.39-44
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    • 2023
  • As the number of companion animals reaches 15 million in 2022, the pet wear market is expected to grow at an average annual rate of about 14.5% from KRW 1.5684 trillion in 2014 to a market size of over KRW 6 trillion in 2027. However, most of the pet clothing and various supplies currently in circulation are either cheap, low-quality products imported from China or other countries, or expensive products released by overseas luxury brands. Therefore, it is urgent to develop a brand that can compete with luxury products coming from overseas by developing premium pet fashion products using high-end functional fabrics produced domestically. This study seeks to propose ways to revitalize the domestic pet fashion market by examining the current status of global pet fashion, the domestic textile industry, and the current status of the pet fashion market. The suggestions and expected effects are as follows. First, active support is needed for the development of products using domestically produced fabrics, such as raising awareness through various subsidy projects and contests. Second, it is expected that small and medium-sized businesses will be revitalized through the production of pet fashion products using high-quality functional knit fabrics produced in northern Gyeonggi Province. Third, it is necessary to produce high-quality premium products through continuous and intensive support from the government and collaboration between large corporations and small and medium-sized enterprises. Fourth, there is an urgent need to provide opportunities to train experts for the expected effects of starting businesses and creating new jobs.

A study on Mongol women's imported apparel selection behavior according to their conspicuous consumption orientation (몽골 여성들의 과시적 소비성향에 따른 수입의류 선택행동)

  • Munkhtuya, Bavuudorj;Kim, Yongsook
    • The Research Journal of the Costume Culture
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    • v.20 no.6
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    • pp.811-825
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    • 2012
  • The purpose of this study was to identify imported apparel selection behavior according to Mongol women's conspicuous consumption orientation. A self-administered questionnaire was used for data collection. First, factors of conspicuous consumption orientation were high price and luxury brand, fashion style, altruism, prestige, and brand. Mongol women were segmented into the price and prestige pursuit group, the fashion and brand pursuit group, the altruism pursuit group, and the conspicuous consumption retard group. Second, factors of motivating the selection of imported apparel were value, symbolism, and aesthetics, and Mongol women considered the aesthetics of imported apparel important. Married Mongol women in their 30's chose imported apparel because of its symbolism. More married women selected imported apparel because of its value and more educated women selected imported apparel because of its aesthetics. Women with higher apparel expenditure selected imported apparel because of its value and symbolism. Quality, diversity, and the fit of imported apparel were the selection criteria for Mongol women and they were satisfied with the quality, diversity, and fit of the imported apparel. Brand awareness was very important when selecting imported apparel but the women's satisfaction level was significantly low. Third, more women in their 30's, unmarried, or with a lower educational level were found in the price and the prestige pursuit group, and the price and prestige pursuit group and the altruism pursuit group selected imported apparel for its aesthetics. More unmarried women in their 30's with a higher educational level were found in the fashion and brand pursuit group and selected imported apparel for its value, symbolism, and aesthetics. More unmarried women in their 20's with a higher educational level were found in the altruism pursuit group, but unmarried women in their 20's with a lower educational level were found in the conspicuous consumption retard group.

Comparative Analysis in Perception on Men's Fashion Using Big Data : Focused on Influence of COVID-19 (빅 데이터를 활용한 코로나19 이전과 이후의 남성 패션에 대한 인식 비교)

  • Kim, Do-Hyeon;Kim, Jeong-Mee
    • Journal of the Korea Fashion and Costume Design Association
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    • v.24 no.3
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    • pp.1-15
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    • 2022
  • The purpose of this study is to compare and analyze the perception of men's fashion before and after the COVID-19 pandemic. TEXTOM allowed the collection of Big Data based on the term 'men's fashion'. As for the data collection periods, Jan. 1, 2018 to Dec. 31, 2019 was set as the pre-COVID-19 era, while Jan. 1, 2020 to Dec. 31, 2021 was set as the post-COVID-19 era. The top 50 words in terms of appearance frequency were extracted from the data. The extracted words were processed using network centrality analysis and CONCOR analysis using Ucinet 6. Research findings were as follows. 1) In the pre-COVID-19 era, the appearance frequency of 'men' was the highest, followed by 'fashion', 'men's fashion', 'brand', 'daily look', 'suit', and 'department store'. These words came up with a high TF-IDF values. Network centrality analysis discovered that 'men', 'fashion', 'men's fashion', 'brand', and 'suit' had a high level of connectivity with other words. CONCOR analysis showed four significant groups: 'fashion item and styles', 'fashion show', 'purchase', and 'collection'. 2) In the post-COVID-19 era, the appearance frequency of 'men' was the highest, followed by 'fashion', 'brand', 'men's fashion', 'discount', 'women', and 'luxury'. These words also displayed high TF-IDF values. Network centrality analysis found that 'fashion', 'men', 'brand', 'men's fashion', and 'discount' had a high level of connectivity with other words. CONCOR analysis showed four significant groups: 'fashion item and style', 'fashion show', 'purchase', and 'situation'. 3) Before the outbreak of the pandemic, men were interested in suits to wear to the office, daily look, and fashion shows in Milan and Paris. They often purchased menswear in multi-brand and open stores. However, they were more interested in sneakers, casual styles, and online fashion shows as social distancing and working from home became common. Most purchased menswear through online platforms.

The Impact on the Korea Characteristic influence on the Attitude of Luxury Product : focus on Strategic Implication in Luxury Ad (한국인의 우쭐과 체면성향이 명품 제품태도에 미치는 영향 : 명품광고 제작시사점을 중심으로)

  • Yu, Seung-Yeob;Youm, Dong-Sup
    • Journal of Digital Convergence
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    • v.10 no.1
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    • pp.203-213
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    • 2012
  • This paper attempts to find out the psychological characteristic factors of Korean consumers, and to identify how they influence consumers' attitudes toward the products for the world famous brands. The related literature refers face-consciousness trait, boast trait and ritualism trait to the main research objectives of this research. As results, 3 underlying factors are found to underly the 'Chemyon(social face)', 6 factors to 'Uzzul(Boasting)'. Multiple regression analysis reports that 'Uzzul(Boasting)' trait has a significant influence over the consumer's attitudes toward the product for the famous brands, and Chemyon(social face) trait has the same effects as well though with less statistical weight. The paper's findings suggests academically that we need more serious research endeavor to understand consumption propensities that are salient to Korean consumers. And, they also imply that advertising creative director would implement the knowledge in developing creative strategy for brand advertising.