Vivien Zhang is a visionary force propelling the retail industry towards a boundless future of possibilities powered by the disruptive force of Web 3 technology. With a dynamic blend of tech entrepreneurship and a profound understanding of luxury fashion, she paves the way for a new era of connectivity, transparency, and sustainability.
In her earlier days, Vivien thrived in the exclusive realm of luxury fashion, witnessing the profound impact of social media and the creator economy in the retail landscape. It was a revelation that drove her to rethink the potential for technology to reshape the global landscape, surpassing the allure of luxury goods alone and brought her to founding her company SOLAIRE.
Vivien shares her expertise and insights to brand managers/leaders/consumers who may fear the newness of Web3 and advises what they should pay attention to- in order to embrace the future of business. She will also give advice to those who want to utilise Web3 while acknowledging the slow adoption and delve into some sectors for examples, including, fashion, entertainment and sports.
In the midst of emerging technologies like Web3 and blockchain, it’s hardly a surprise that they encounter scepticism and initial challenges, as Vivien points out. “Think back to the internet’s early days—similar doubts emerged, just as we saw with Wi-Fi and mobile payments. True transformative power requires time to unfold, and Web3 stands as a vivid example of this process.”
She illustrates that Web3 and blockchain can be useful in multiple ways: One example is that it can be used as a powerful clientele tool, as it opens channels of communication between brands to engage with both primary customers as well as secondary owners; and that it can help to ensure security and royalties for the secondary marketplace.
Vivien elaborates on how blockchain can revolutionise the fashion industry, offering the ability to monetize both physical products and their digital counterparts. This approach brings forth additional revenue streams by delivering valuable consumer behaviour insights, enhancing fan experiences, particularly in the entertainment sector like music and sports.
“From a merchant’s perspective, managing high-value, long-lifecycle products becomes crucial. Web3 technology, as applied to fashion items, establishes transparency and traceable histories, ensuring authenticity—especially relevant in secondary markets or auction houses.”
For fashion investors, blockchain bolsters security and streamlines resale processes, thwarting counterfeit challenges. It presents a long-awaited solution to a persistent luxury fashion problem, fostering a thriving economy for all stakeholders. While NFTs sparked cultural excitement, the focus should shift toward creating enduring value, especially amid challenging times like the global financial crisis and post-COVID-19 recovery. The crux lies in ensuring that Web3 technologies are as accessible and intuitive as logging into our emails.
Vivien also points out that storytelling, and the ability to provide enriched experiences to a community is also a key, when it comes to advantages brands should be looking out for. Within sectors like entertainment, whether music or sports, Web3 can play a pivotal role in cultivating devoted fans into “super fans.” Given the dispersed nature of fans, blockchain’s power to identify and nurture genuine connections proves invaluable. It forms the bedrock for stronger bonds and loyalty.
Connected to storytelling and creating stronger bonds and loyalty, is proof of sustainability or sustainable promises. “If a brand is looking to gain valuable business intelligence due to the creation of a deeper and lasting relationship with ‘superfans’, they should look for a Web3 or tech product that allows them to prove circularity or trace materials both backwards and forwards”.
Her advice for those intrigued by Web3 but wary of its gradual adoption is to not prioritise or lead with technology. In fashion’s context, “Technology serves as the conduit to convey a message, amplify user experiences, and bridge the digital-physical gap. Remember, you’re not marketing technology first.”
She suggests considering it like any other toolkit components, such as payment providers or inventory management systems in e-commerce. View them as tools to glean insights into customers, and she underscores that embracing technology need not be daunting. Instead, it’s more important to “focus on what you do best,” which is delivering exceptional products and content. This approach ensures that technology naturally supports the background efforts, all while preserving a seamless and effective user experience.
Lili Gusto, is a communications expert and publicist, within various sectors including technology, health, beauty and wellness. As a freelance writer for publications, she is passionate about innovation and to delve into topics most relevant to any sector’s executives. Her background includes over a decade of experience in management within the beauty industry and retail with corporations. She also represents brands in Web3 and heads communications departments. In her spare time, she guests speaks for events, and magazines on communication, PR advice and business.