Once you have cleared Xenoblade Chronicles: Definitive Edition, your reward will be to unlock the New Game Plus mode.
You can choose to continue exploring the world of the Bionis and Mechonis with your Cleared Data to wrap up any Heart-to-Hearts or Quests that you are still to complete, but you can also choose to return to the beginning.
The New Game Plus mode essentially lets you restart the game with the items and levels from your first playthrough carried over.
To be more specific, your party members’ Levels, Arts, the Party Affinity that you have built, your money, general items and whatever you have equipped when you clear the game are carried across.
However, you will leave behind any Key Items that you have collected, which makes sense seeing as you would receive duplicates and can otherwise skip ahead in the main story.
Your Achievement Records will also carried over, but your progress in Achievement Trials, the Affinity Chart and your Quest Log cannot be.
The following is a story spoiler for late in the game, but Shulk will also wield the True Monado right from the start of your New Game Plus playthrough.
Xenoblade Chronicles: Definitive Edition is now available exclusively for Nintendo Switch worldwide.