The consumer landscape today has changed, and consumer behavior has evolved due to the rise of the creator economy and an abundance of choices. Furthermore, the proliferation of digital across markets, the rise of OTT, TikTok, and other social platforms have transformed how individuals spend their time and consume information. As a result, there is a need to engage with consumers across multiple touchpoints in addition to traditional advertising. The marketing mix, as we have come to know it, is changing rapidly, and brands today are adopting digital strategies to help them connect with their consumers, accelerating the shift towards content-enabling commerce.
Brands globally have started to recognize the power of blending content with commerce, resulting in enhanced brand engagement and affinity. Brands and platforms adopt various approaches depending on how they want to engage with their consumers. Some curate educational content while others focus on inspirational content. Other popular approaches include activating an influencer squad to create engaging content to boost user engagement, editorial-styled shoppable content, digital magazines, shoppable video formats, and so on. Brands that can drive the most meaningful engagement across different touchpoints in the consumer's journey will be able to build a strong relationship with the consumer.
Our IPs are our biggest content commerce initiative, allowing us to highlight our luxury thought leadership through content creation in collaboration with the most influential names in the industry. The content created is further amplified via shoppable stores. The Luxe Life, introduced in 2021, is one such IP that offers consumers an elevated view of luxury with a purpose. The second edition of The Luxe Life, which was held in March 2022, was a one-of-a-kind virtual film and shopping festival. It featured exciting video content that explored the shape of fashion, new movements in art and design, and the fashion films that documented and celebrated the personal style of South Asians in the fashion capitals of New York, Paris, and London. The festival also featured shoppable stores that were thoughtfully curated by Tata CLiQ Luxury's editors and collaborators. The goal was to encourage consumers to #OwnTheNew, allowing them to be inspired and approach each purchase with purpose and intention.
In addition to this, The Watch Society, a phygital society designed to offer bespoke experiences to watch enthusiasts, also enables content, conversations, and commerce. We created content in the form of a video series with leading watch experts in the industry to build an appreciation for quality, craftsmanship, and heritage through exciting storytelling.