In today’s rapidly evolving cultural landscape, younger audiences have developed a profound appreciation for heritage and craftsmanship. Yet, their engagement with brands extends beyond mere admiration; they crave active involvement in the brand's journey, challenging the traditional top-down consumer relationships.
To cater to the new "Collector" or "Trading" consumer mindset, brands must rethink ownership and create new traditions that resonate with the next generation. This involves partnering with voices and brands that hold significance for modern consumers.
The past decade has witnessed an explosion of standout collaborations and cross-industry linkups, making it clear that partnerships have transcended being a trend and instead become a tradition. Iconic collaborations such as Pharrell with Louis Vuitton, Dior’s alliance with PSG football club, and the FENDI Café Pop Up in Harrods, London, exemplify this shift.
These collaborations blend music, luxury, sport, and haute cuisine, demonstrating that partnering with brands that complement your ethos can lead to unparalleled success.
A standout example is Pharrell Williams' groundbreaking collaboration with Louis Vuitton. As the Men’s Creative Director, Pharrell has successfully blended streetwear aesthetics with high fashion, creating collections that resonate with a younger, more diverse audience. His debut collection showcased during Paris Fashion Week demonstrated how a luxury brand can honour its heritage while infusing it with a fresh, contemporary edge.
This collaboration reflects the broader trend of brands partnering with influential figures who bring a unique perspective, challenging traditional models of engagement.
A quintessential example of adding a twist to tradition is the unexpected partnership between Palace Skateboards and the 260-year-old English china maker, Wedgwood.
This seemingly unusual pairing brought together the streetwear brand’s edgy designs with Wedgwood’s iconic floral patterns, triggering nostalgia among urban youth familiar with the designs from their grandparents' homes. By incorporating vibrant strawberry-polka dot patterns into Wedgwood’s ceramics, the collaboration not only rejuvenated Wedgwood’s product line but also expanded the communities for both brands. This fusion of tradition and modernity created a unique, mutually beneficial partnership where form truly met function.
The thrill of collecting has always appealed to some, whether it is bottle caps, stamps, or coins—the essence of the collector mindset. Today, this passion has evolved into a rapidly growing phenomenon, encompassing luxury items like sneakers, watches, and cars. This shift reflects a refined and sophisticated taste, transforming this mindset into a powerful cultural force.
The Subdial clubhouse exemplifies how brands can tap into this collector mindset. This platform allows high-luxury watch connoisseurs in the UK to resell and trade watches at market value, fostering a motivated network of collectors. By creating a space for watch enthusiasts to connect and trade, Subdial has successfully capitalised on the luxury collector trend, highlighting the potential for brands to engage with collectors in meaningful ways.
Building on the collector mindset, the current economic climate has given rise to a trend of trading connoisseurship. Consumers are increasingly seeing the value in investing in shares of collectibles rather than pursuing complete ownership. This shift necessitates that brands rethink traditional ownership models, leveraging emerging technologies to meet consumer demands.
Silverpine, a platform that allows vintage car enthusiasts to own shares of collectible cars, serves as an excellent example of this trend. By enabling partial ownership, Silverpine taps into the novelty of collectibles while aligning with the growing trading mindset. This model not only makes collectibles more accessible but also fosters a community of trading enthusiasts, highlighting the feasibility and value of shared ownership.
The key point here is that a "tradition twist" in the world of brands lies in the ability to blend heritage with contemporary consumer desires. By embracing collaborations, catering to the collector mindset, and rethinking ownership through trading connoisseurship, brands can create new traditions that resonate with the next generation.