Saxena, Business Head–Global Luxury, Tata CLiQ Luxury, shares insights on The Luxe Life 2, social commerce, evolving proposition and more
In March, Tata Cliq Luxury executed the second season of its IP - The Luxe Life. The post-pandemic world has seen luxury transcending beyond conventional boundaries with themes of bringing purpose into luxury trending. According to Gitanjali Saxena, Business Head – Global Luxury, Tata CLiQ Luxury, the event was a celebration of self-expression and individuality. It was a five-day virtual film and shopping festival through a series of short films with curated shoppable stores.
Saxena shares, “Today, luxury is about being purposeful. However, consumers are unable to take any concrete action due to limited opportunities or lack of access to an avenue to do so. The Luxe Life 2 aims to provide consumers with a nuanced, elevated view of bringing purpose into luxury and the opportunity to support it. The event saw a celebration of the shape of fashion to the new movements in art and design. It also witnessed our first-ever content and commerce integration.”
Social Commerce & The Bigger Marketing Picture
Most D2C players today are pivoting to content-to-commerce with content curated around shoppable products that aim to educate and engage consumers and ultimately drive conversions. Sharing how this strategy fits the overall marketing strategy of Tata CliQ Luxury, Saxena shares, “Social commerce allows for discovery, consideration, and two-way communication that helps to increase brand visibility and sales. Our social media strategy at Tata CLiQ Luxury focuses on humanising the brand through creative storytelling. Through numerous initiatives and IPs, we consistently integrate content and commerce, sparking curiosity, increasing engagement, acquiring new consumers, and allowing us to give a holistic experience to shoppers. We are continuously working towards introducing initiatives that will help us not only reach out to new consumers but also strengthen our relationship with existing ones.” The brand is in fact experimenting with various content formats to scale up on content-led commerce. Eventually, the brand aims to become a destination where customers come not only to shop but also to interact and engage and to finally build a community of culture shapers in the luxury ecosystem.
Commenting on how IPs like The Luxe Life help the brand, Saxena adds “Brand IPs help in increasing awareness and reaching out to a new audience. In doing so, it also helps in strengthening the positioning of the brand among the TG. Through such initiatives, we aim to provide an opportunity through which people can engage with the platform based on their interests and passions.”
The overall marketing approach for Tata CliQ Luxury will continue to focus on establishing it as the go-to destination for online luxury shopping across categories, while also building brand equity. Saxena says, “We will focus on equity-based campaigns and introduce new initiatives to drive content-led commerce. We plan to operate at a considerably higher scale than we did in FY22, and many of the initiatives that we started in FY22 will be scaled further this year.”
Avenues In Luxury Commerce
Tata CLiQ Luxury caters to an audience segment who are digitally savvy and have a high disposable income. The median age of the consumers is 30 years. Tata CLiQ Luxury has the highest market share vis-a-vis other competitors in the domain. It is interesting to note that Tata CliQ Luxury has witnessed triple-digit growth since Covid-19 and added several new brands, thus expanding the portfolio additionally with new categories too.
As a brand, Tata CliQ Luxury believes in the business philosophy of Slow Commerce. Shedding light on this, Saxena adds “Time has now become a luxury, and we truly believe that it takes time to make luxury and to appreciate quality. It is about giving time; to pause to appreciate the craftsmanship, to choose only that which speaks to more than just our senses, and time to relish the experience. This slowness is appreciated by consumers who recognise the need for it. They are conscious of their purchases and mindful of how their actions are environmentally neutral and sustainable. With this changing definition of luxury – We enhance our luxury experience by embracing the principles of Slow Commerce where our endeavour is to elevate the ‘Quality’ in everything we do.”
The pandemic has spurred the adoption of digital transactions in the luxury market, contributing to the country's luxury e-commerce boom. Online platforms enable consumers to experience the world of luxury with minimal barriers. These platforms are leveraging technology to create differentiated services without diluting the brand experience. Various luxury brands are now using digital commerce and strategizing to extend their business beyond the major cities. Additionally, going ahead, AR/VR & Machine Learning will be critical in improving the online shopping experience and allowing for personalization. Sharing the opportunities in the Luxury segment, Saxena adds, “The move from physical stores to online platforms will continue as long as online platforms innovate to enhance the experience and delight the consumer by making it personal while remaining efficient. At Tata CLiQ Luxury, we have started implementing some of these new technologies, along with a personal touch to online customer service.”