The luxury world has always faced competing paradoxes. How can brands grow while maintaining their aura of exclusivity and rarity? How can they hold onto their heritage while innovating for the future? The digital age has supercharged these tensions. A new generation of consumers is making its way into the world, with different expectations and shopping behaviors. The coronavirus pandemic, which forced luxury brands to shutter their stores, has further accelerated the digital-first transition. Luxury brands will have to reconcile these apparent contradictions to remain relevant and build a global customer base. This article discusses three paradoxes of digital luxury that brands need to manage.
