The Luxury E-Commerce In Fashion & Beauty Industry insights
The luxury e-commerce in fashion & beauty industry has changed the retail market for both consumers and businesses. Due to its rise, a lot of companies can exist with a smaller number of physical stores. However, not all brands have readily embraced the technology. Today, luxury goods retailers are changing their priorities as customers are looking to the internet for their purchasing needs.
Luxury E-Commerce In Fashion & Beauty Industry – The Introduction & The Most Important Information And Knowledge
1. What Is Luxury E-commerce In Fashion & Beauty Industry?
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Luxury e-commerce follows similar trends to the online purchasing developments. The difference between luxury and conventional retail are the type of goods and care customer services. Despite this, the definition of luxury e-commerce in fashion & beauty industry involves in a combination of established premium branding, exclusivity and high price points. All three features challenge the cheap and availability promoted by online sites.
2. How Would Luxury E-Commerce In Fashion & Beauty Industry Develop?
As with the rest of e-commerce, the luxury brands are expected to see a notable growth. There is a suggestion that online sales of luxury services and goods could reach the tipping point next five years. Currently, luxury brands account for only 6% of all e-commerce revenue while the expected number was 12% by the end of 2020. In a decade’s time, experts expect this to reach 18% or $106 billion a year.
3. E-Commerce Imperative For Today’s Top Luxury Brands
A luxury brand has to get a DNA different from that of other brands. It also needs brand visibility that makes sure a dominant presence on social media sites such as Pinterest, Facebook, Instagram and so on. Many of them have enabled top luxury brands to grow their sales dramatically. One successful example is the top luxury brand Rebecca Minkoff, which has made a specific forum for its customers to suggest some changes to products.
4. How Top Digital Luxury Brands Create A Premium E-Commerce Experience
Google investigated the experiences of the shopping that can affect the way customers reply to luxury brands and their products. These events represent the cases that are most important to buyers, especially digital ones. Google showed that even when consumers are in a official store, they still want to connect with e-commerce or other websites through their mobile devices in order to validate their decisions. A study shows that 82% of people consult their mobile phones while purchasing in physical stores, the luxury e-commerce in fashion & beauty industry has influence on customer behavior.
Online Mobile Shoppers on the Rise/ Ph: koogle.tv
Luxury stores need to give their customers a high-end experience. The sites need to show more options for their customers and use their preferences to offer them an event invitation or exclusive offer. Customer services also need to be cared for, such as free shipping, a buy or reserve online, free returns either through mail or at store.
5. How Luxury Shoppers Are Changing The Face Of Retail
Despite the rise of online shopping, luxury retailers are dipping a toe in the water. A research reveals that just 10% sales in the market occur online. However, it does not mean that luxury retailers are not getting onboard. Many manufacturers are trying to change with digital platforms to fight against fakes.