Louis Vuitton has reclaimed its spot at the top of the leaderboard in the newest edition of the Vogue Business Index, having been pipped to the post in the Winter 2021 Index by Dior. Its continued digital evolution, innovation and brand favourability in the eyes of the consumer have helped it secure first place. Additionally, the return of the financial pillar has enabled Chanel to leap into the top five for the first time since the first Index. Now with six pillars, the newest Vogue Business Index combines over 160 data points across Consumer, Digital, ESG, Omnichannel, Innovation and Financial performance for each brand. And while some pillars (like Financial) might be slower to change, others (like Omnichannel and Innovation) indicate rapid adoption of new tools that are pushing the needle of consumer expectation.
Clienteling stretching into sustainability
Six brands, including Dries Van Noten, Alexander McQueen and Max Mara, have started advertising Whatsapp customer service functionality on their e-commerce pages since October 2021. Other brands are also adding to their communication channels and, currently, 35 per cent of Index brands offer some form of instant communication with an advisor. This still leaves significant room for growth, given that 60 per cent of luxury consumers globally view instant customer support like live chat as important.