How luxury fashion is cashing in on gaming revenues and its market opportunities

In the wake of the ongoing global challenge, most industries have taken a beating in business, despite that, the gaming and eSports markets have only progressed. This slowdown has led to a spurt in several trends, of which the relationship between premium fashion brands and gaming leads the lot. This trend essentially serves as a vital platform that encourages the multitudes of players and potential clients to revamp their virtual identities with accessories and apparel offered by different brands. Video games also act as a catalyst in the way the brands can reach out to the youth, which may otherwise, be quite challenging.

Branding Opportunities

According to popular research, 90% of Gen Z are avid gamers as opposed to 59% of the total populace, with a purchasing power of nearly $44 billion. Over the last two decades, brands have been using the opportunity to explore the gaming phenomenon. This growth owes its origin to the emergence of the new cohort of gamers with big spending power. This alliance between luxury fashion and online gaming is also apparent in the new genre of branded online casino games like at JackpotCity online casino through a series of sports, arcade games, table games, slots and more. From fashion designs inspired by the gaming realm to creating their own games, brands have also ventured into virtual styling games now, keeping in mind the fashion clientele.

Storytelling

In the virtual world, players can choose their appearance and style, which also makes way for the use of popular designer brands. Gamers can opt for in-game merchandise to compete with others or have distinct virtual identities. This not only offers brands an indirect market opportunity of weaving their wares into the realm of gaming naturally but also allows the gaming companies to market their positioning as being culturally applicable. For instance, brands like Valentino and Marc Jacobs have been seen adding their designs to a popular game from the recent times.

And with merchandise available for purchase from in-game facilitators, consumers who cannot afford the ready-to-wear Louis Vuitton collection, in reality, can now experience the brand through the realm of gaming!

Capitalization

The popularity of Gaming influencers is a significant reason behind the involvement of the brands. For instance, in addition to in-game consumables, Louis Vuitton also designed the League of Legends’ 2019 Summoner’s Cup, and owing to its expansive viewership of 99.6 million people, the brand won an unprecedented reach during the championship. This shows how the brand not only targeted the usual or ad-hoc gamer but also cashed in on the opportunity to add a new commercial layer to the game.

Driving commerce

Fashion brands don’t necessarily need to capitalize on their popularity by appearing in games, they can also benefit by only associating through their merchandise, like how Gucci came out with a limited edition watch in alliance with Fnatic, an eSports brand. This also gives the brands an opportunity to gauge the market pulse for significant demands. While marketing’s always an added advantage that has led to many brands launching their own games, such concepts can be quite effective for brand storytelling and a customer immersive experience in the realm of fashion.

Conclusion

With e-commerce on the rise, gaming offers a new topography where businesses can diversify. What is clearly significant in the gaming world is the market value of a brand and the way it engages with the changing genre of clientele in addition to strengthening their alliance with pre-existing fans.