In order to maximize sales online, an increasing number of luxury brands are taking a bespoke approach, offering personalized services as well as products exclusively sold online. A research presented by Enora Consulting.
Luxury e-commerce now represents 4-6% of the 200 billion euros in sales of luxury goods in the world, according to different estimates compiled by Enora. Almost nonexistent ten years ago, it grew by 25% per year over three or four years and could remain progression of 20% per annum in the coming years.Today, “the number of brands (luxury) with no site is very low” and “brands are positioned more upscale, less use of the Internet is advanced,” says Enora which points to the fact that a third of luxury online sales in France, today, are made with outlet stocks.
Product customization is one of the most widespread approach on e-commerce by many of the major luxury brands: Louis Vuitton offers personalized online of luggage with ”my monogram”,Ralph Lauren offers customization of their shirts (choice of logo, color, adding initials), Boucheron, customizes rings (choice of stones, shapes, quotes by e-mail), Longchamp is selling on-line a range of bespoke bags made of canvas, while Gucci offers customization of leather goods with the initials of the buyer in gold instead of 2G pattern as well as a collection of sneakers exclusively available for online sale on the Ipad. (more…)