An Armani fitted suit, a Louis Vuitton purse or a pair of Coach Boots are not the only things driving or categorized under luxury e-tailing market (luxury e-commerce) today. It is a wide spread array of unheard websites from different parts of the world offering designer jewelry, shoes, clothes and much more which all fall under the umbrella of luxury e-tailing market.
Online luxury fashion sales are expected to grow at a rate of 18% by 2018 in the UK and a massive 70% in China. With time, the way consumers interact with brands is changing rapidly as businesses and services becoming increasingly digitalized, where most consumers use search engines to find luxury goods. When shopping online, because luxury consumers prefer to shop in a multi-brand environment, the ecommerce factor is a major driving force responsible for increasing demand in luxury e-tailing market. That is one of the reasons online department stores are mostly multi-brand, which suits the customers taste. Also, added features of free shipping, easy return policies and various payment options are icing on the cake to the experience of luxury e-tailing market making customers happy and content.
The effect of these driving forces, luxury e-tailing market growth patterns, key players and more are analyzed by an expert team and compiled in a new “Global Luxury E-Tailing Industry 2016 Market Research Report” now available with eMarketOrg.com.
A research conducted by McKinsey & Company says online luxury goods market is expected to grow rapidly over the coming years in all global regions, up from the current 3% of the total luxury fashion to 17% of the market, which equates to roughly $12 billion. The annual sales of online women’s market are expected to grow by 17% in the US, 18% in the UK and a whopping 70% in China. Data like these support the outlook that luxury e-tailing market is expected to boom further in the coming years because of growth of developing markets.
Currently, ecommerce accounts for a small percentage of luxury sales, but that amount is rapidly growing. Only the United States and China will account for more sales in the luxury industry than collective ecommerce by 2025, according to a McKinsey analyst at the Financial Times’ Business of Luxury Summit in 2015.
Another factor to look at in luxury e-tailing market is the exclusivity of individual luxury brands, which remains an equally important factor to drive the market along with increasing numbers of wealthy individuals that want to be recognized as “part of a society”, by wearing exclusive apparel and accessories. This is leading brands to expand into e-tailors market for the brand conscious and brand loyal class of customers.
On the topic of luxury e-tailing market, read detailed table of contents, list of figures and tables as well as more on “Global Luxury E-Tailing Industry 2016 Market Research Report” now available with eMarketOrg.com at http://emarketorg.com/pro/global-luxury-e-tailing-industry-2016-market-research-report/ .