A handful of luxury e-tail sites such as net-a-porter.com, neimanmarcus.com, eluxury.com and vivre.com have catered to some of the world’s wealthiest buyers for a while now. However, luxury providers constantly need to challenge themselves to find new ways of meeting (even exceeding) their customers expectations. The saavy, wealthy and on-the-go constituents of Generation X and Generation Y expect more capability, flexibility and technology. Look for online luxury aggregators to proliferate, becoming coveted online resources of one-stop-shops, by packaging several services in one. Take the Luxury Index for example –a global online marketplace where more than 50 million affluent internet users worldwide can buy, sell, rent, or list luxury good and services.
Still in its early stages, expect to see more luxury M-Commerce (Mobile Commerce) coming to a phone near you, with text message purchasing, exclusive previews and price comparison capabilities. In August, Polo Ralph Lauren was the first major luxury retailer to launch a full-function mobile commerce site. Designer brand Chanel introduced an application for the iPhone in which users can view runways looks, video and accessories of their haute couture collection. And the latest m-evolution, iphone magazines!
By: Chelsea Orth, KWE group