Conclusion

The Innovation

As well as in-person, the experience will be accessible virtually, allowing customers globally to access a tour of the museum via any device, such as a mobile, tablet, or laptop. This allows McQueen to provide a unique physical and digital experience for its consumers and will also provide more exposure for the innovation.

The Innovation

The initial cost of this creation will be expensive but will provide great value to the brand and act as a long-term investment in its future, as 78% of luxury shoppers see a luxury brand’s commitment to innovation and new technologies as a decisive reason for purchasing an item (Klarna, 2022).

The price of luxury products reflects the price of emotional value, as Gen-Z consumers value luxury brands that convey their brand message through an experience, providing a stimulus for purchase motivation. (Han and Kim, 2020).