Mobile APP is the new oil? Case study of Bottega Veneta
Brand Mission
First, I ask ChatGPT, what is the brand mission of BV in 50 words.
“Bottega Veneta’s brand mission is to provide a unique and timeless vision of luxury based on quality, craftsmanship, and exclusivity. The brand is known for its exceptional leather goods, commitment to sustainability, and ethical practices. Bottega Veneta seeks to create beautiful and meaningful products and offer a sophisticated, understated luxury experience.” Here is the answer provided by it.
BV Mobile APP
“Our first milestone in this plan is the Bottega Veneta mobile app, which we designed as a creative doorway to the online world of Bottega Veneta. In contrast to social media, the Bottega Veneta app requires time and focus to be explored. It starts with a dive through a 3D tunnel.” from Bottega Veneta's official website.
Those are the front page of their mobile app. I really like the design, it’s impressive. I can’t show the video performance on this platform, but I definitely recommend you all download the app and have a try. The color selected is advanced, sorry I can’t find a word to describe it. Green represents recycling, sustainable which obeys one of the brand's missions. The advanced green also shows BV aims to provide beautiful, good quality, and exclusive products.
Mobile APP is the new oil?
Why would I say so? Well-known, oil can provide huge profits, and there are unlimited markets for oil, I would say mobile apps just like oil, it will bring profits and huge market size for brands.
Please look at these two diagrams together. The one below explains Americans spend a lot of time on smartphones daily, and the other one shows people spend 92% of their “mobile phone time” on any kind of app. If we do a calculation here, about 46% of Americans spend 4.14 hours in APPs daily. Isn’t that a huge market?
Well, to answer my question, mobile apps can’t be the new oil, since there aren’t many barriers to entering the market compared to oil. Only a few companies can get raw oil. Moreover, there is a substitution for mobile apps, some people like me prefer shopping on websites instead of mobile apps, and some also prefer shopping in physical stores. However, if we look at the long term, GenZ will become the main target audience, thinking about this generation’s consumption behavior, mobile apps will become the top priority when shopping. Therefore, in my opinion, unless there are some new techs invented, the future of mobile apps will be extremely bright.
