Resort Wear, Instagram & Autonomous Vehicles
The future of in-vehicle shopping is boundless for brands.
In 1931, Italian designer Elsa Schiaparelli introduced the world to culottes which started the modern-day trend of resort wear. This trend gained significant momentum during the golden age of flying in 1950s and 1960s. The term resort wear entered the lexicon in the 1980s when designers Calvin Klein and Oscar de la Renta’s resort wear collections gained significant traction with sophisticated shoppers.
In 1983, Calvin Klein was quoted telling The New York Times that “he does almost as much business for resort as he does for fall”. Today, resort wear has an estimated market value north of $20 billion and growing. In 2018, the global travel market (encompassing resort wear) was valued at $8.8 trillion, accounting for 10.5 percent of GDP.
This year, the global travel market is projected to grow by 4 percent. With the growth of travel comes the growth of experiences. For example, Airbnb has seen 7x year-over-year growth in its experiences business since the company first introduced the product in 2016. Experiences such as those found on Airbnb are consistently being shared on Instagram with over 1 billion monthly users who actively use the platform.
The growth of the global travel market combined with experiences and the ability for individuals to showcase their adventures to the world is an enticing opportunity for brands, especially those specializing in resort wear.
One brand, in particular, Lilly Pulitzer famously worn by First Lady Jacqueline Kennedy is an iconic American brand. With Lilly’s colorful prints and youthful spirit, the brand continues to thrive to this day. In 2018, the Lilly Pulitzer brand which is owned by Oxford Industries accounted for over 85% of Oxford’s revenue.
With revenue growth, colorful prints and a brand that is extremely well known in resort towns around the world such as Palm Beach, Florida opportunities abound. These opportunities reside beyond the typical realms of fashion and could expand into the world of mobility.
Through licensing deals, brands such as Lilly Pulitzer could design bespoke autonomous resort vehicles and partner with mobility service providers to chauffeur guests around famous resort towns. These vehicles will be completely designed to reflect the look and feel of the brand while offering exclusive in-vehicle shopping experiences.
A day at the beach or an evening at the gala could turn into an exclusive shopping experience. These experiences would be highly coveted and Instagramable, building buzz and demand for Lilly Pulitzer’s fashionable line of clothing and accessories.
It is not just brands such as Lilly Pulitzer which will benefit from the introduction and adoption of autonomous vehicles. It is all brands. Brands are the currency that fuels Instagram. On Instagram, 80% of users follow a business and over 500 million watch Instagram stories every single day.
Fashion brands with resort wear collections have a unique and competitive advantage as everyone wants to look good on their Instagramable vacations. Individuals dressing fashionably on vacation increases year-round sales of seasonal clothing and accessories.
Resort wear changed the way individuals dress for holiday. Instagram changed the way individuals present themselves to the world. Autonomous vehicles will change everything we once knew about vacationing and unlock boundless opportunities for brands.