Snapchat recently held its inaugural 'Crafted for Luxury' event in Dubai, in collaboration with The Business of Fashion (BoF), marking the latter’s first engagement in the UAE. The event highlighted the remarkable growth of the regional luxury market, with GCC locals playing a pivotal role.
Insights presented during the event revealed that less than 15% of local luxury buyers feel adequately represented in current advertisements. Additionally, 73% of regional luxury consumers expressed that brands should better reflect the societies in which they operate.
Hala Zgeib, Snap’s Head of Luxury, underscored the importance of understanding cultural dynamics to connect with GCC luxury shoppers.
“Culture drives growth, innovation, and purchasing decisions. Snapchat, deeply integrated into the lives of GCC locals for over a decade, offers brands a platform to build cultural credibility and authentic relationships,”
she said.
GCC residents are 1.6 times more likely to purchase luxury goods compared to expatriates, making them critical drivers of the industry. Brands that effectively engage with the unique identities and traditions of the region are better positioned to succeed.
BoF emphasized the importance of a hyperlocal strategy for luxury brands seeking to appeal to GCC audiences. The State of Fashion 2024 report, developed by BoF and McKinsey, identified the Middle East as the most promising luxury market, with a 51% net positive intent from fashion executives. This outpaces North America and China, which recorded 8% and 3%, respectively, while Western Europe trailed at -11%.
Olfa Messaoudi, Chief Digital and Marketing Officer for L’Oréal Middle East, highlighted the region’s evolving consumer landscape, driven by Vision 2030. She noted the increasing spending power of dual-income households and women, as well as the rapid rise of e-commerce, as key opportunities for brands.
Ramit Harisinghani, General Manager of Luxury Tech at Chalhoub Group, stressed the importance of maintaining relevance by connecting with cultural influencers and communities.
“Luxury brands must continuously adapt and innovate to stay competitive,”
he said.
Miglena Zivkovic, General Manager of Make Up For Ever Middle East at LVMH, reflected on the intersection of heritage, technological advancement, and societal change in the GCC.
“The region is dynamic and diverse, and global brands must find the right balance in communicating with ‘glocal’ consumers,”
she stated. With Snapchat as a trusted partner, Zivkovic believes brands are well-equipped to meet the evolving definitions of luxury for GCC audiences.
The event showcased how cultural understanding and tailored strategies are essential for luxury brands to thrive in one of the world’s most dynamic markets.
News Source: Campaign Middle East
