51% of French luxury homes are planning an NFT project.

As part of its latest study for the Colbert Committee, analyst firm Bain & Company interviewed 75 French luxury houses to learn more about their relationship with new technologies. What should be remembered?

2.3 new technologies for luxury home.

A gradual but palpable introduction. Biotechnology, molecular recycling, 3D printing, artificial intelligence and machine learning for process optimization, artificial intelligence and machine learning for customer engagement, augmented and virtual reality, automated optical inspection, scanners, 3D imaging, holography, neural analysis , gloves and touch screens, radiofrequency identification, blockchain, metaverse, NFT: among these 16 fields of innovation, the companies associated with the Comité Colbert participating in the study have adopted some 2.3 on average. Here, no leading technology while “RFID only (note: radio frequency identification technology), 3D printing and imaging have an adoption rate of more than 30%” the report states.

This still fragile figure is mainly explained by the difficulty of aligning some of these new technologies with the real needs of the sector, as the report studies. But if the question of relevance is at the center of the beginning, the other explanation is also to be found on the side of the lack of internal skills. A criterion that also illustrates why the houses belonging to a group adopt on average twice as many technologies as independent houses …

Luxury: technological levers at the service of three major applications.

However, the theme of technological innovation remains at the center. According to the study, in fact, the interviewed houses would try on average 3.2 additional technologies to be integrated into their strategies in a niche that goes from the next months to the next three years.

Creativity and interest in novelty have always been essential characteristics of the luxury business model. Its ability to integrate new technologies in line with its needs testifies to the great vitality and agility of our sector. This acceleration will help make luxury a pioneer in technological innovation, as it already is in non-technological innovation.

Bénédicte Épinay, General Delegate of the Comité Colbert.

Among the priority objectives related to these technologies, homes will essentially base their hopes on improving the environmentcustomer involvement, a key concept at a time when the pandemic has profoundly changed consumer habits. To do this, many of the luxury brands interviewed in this study intend to rely on immersive tools such as augmented reality or virtual reality. Same story for NFTs: according to the report, on average 51% of luxury players surveyed are now in testing or planning launches before 2025, a figure that rises to 72% for homes belonging to a large group.

L’operational efficiency It is also establishing itself as a booming field of investigation with strong expectations about concrete applications of RFID, blockchain or even artificial intelligence and its impact on overall supply chain optimization.

And while the awakening of eco-responsible consciences tends to take root in consumers’ purchasing intentions, the last major lever seems to be that of Sustainable Development. Self “new technologies are not yet fully perceived as catalysts for reducing the carbon footprint” according to the study, the cases of application would be skyrocketing, in particular in terms of biotechnologies or even hi-tech solutions that allow to optimize production flows as accurately as possible in order to avoid overstocking and waste management problems.

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