Luxury brands target the e-commerce space to woo customers. SINGAPORE — While few would blink at dropping hundreds of dollars at sites such as Redmart, Asos and iHerb for a quick retail fix or for the weekly grocery shopping, consumers are more likely to hesitate before clicking on the “Purchase Now” tab for a bag worth thousands of dollars.
The luxury retail sector is one that has proven to be resistant to the e-commerce wave because of multiple factors: High-end brands are known to be slow to embrace e-commerce, fearing a dilution in their carefully managed brand cache, and the difficulties of translating the personal touch and exclusivity that come from shopping at a boutique to the online shopping experience. On the consumer side of things, there is the aforementioned resistance to purchasing big-ticket items online. Since the digital shopping experience lacks the tactile element, a significant proportion of luxury consumers might baulk at the idea of buying a high-priced item that they cannot inspect and touch.
But things are changing. Luxury fashion's slowly coming around to plus sizes. This article is from Pulse, Digiday’s quarterly print magazine about the modernization of media.
This is a peek at the third issue, which focuses on the current state and future potential of video. To receive the full 80-page issue and subscribe to a year of Pulse, visit pulse.digiday.com. Fashion designer Prabal Gurung was sitting in a taxi on his way to a Victoria’s Secret show last November when a bus roared past. The advertising on the bus — Lane Bryant’s “I’m No Angel Campaign,” — turned out to be the answer to a question he’d had for two years. “I wanted plus size to be a big part of my brand’s DNA. 10 Most Powerful Luxury Fashion Brands In The World. The luxury market has been growing significantly over the past couple of years and is still continuing on an upwards trend.
Experts forecast an annual growth rate for the luxury goods market of 5-6% between 2013 and 2015. The Brain & Company estimated the luxury market to be valued at $274 billion, with a potential to reach an astonishing value of $290 value by 2015. Whilst the luxury market has been dominated by Louis Vuitton, which continues to be the most valuable luxury brand on a global scale, other names have been emerging as potential market leaders. Gucci and Prada have experienced the most significant growth. With great growth and potential, brands like Prada, Gucci and Hermes may one day overtake the market. and reach the number one spot.
It is believed that Prada and Gucci experienced such high growth in brand value due to an increase in Asian customers, at home and abroad. Burberry becomes first luxury brand to personalise on Pinterest. Burberry has become the first luxury brand to offer customers a personalised experience on Pinterest, letting them create customised make-up boards to promote its new ‘Cat Lashes Mascara’ product.
The personalisation works by asking visitors three questions. Their answers, along with their initials will be combined to create the personal Pinterest board. The partnership allows Burberry to benefit from Pinterest’s features and data to cater its posts to individuals though personalised and monogrammed content. Pinterest is currently the largest beauty platform in the world, with 38.5 million unique viewers of its hair and beauty category.
Content will include makeup preferences, inspirational images, ‘how to get the look’ guides, product tips and information. Prada Sales Slide on Weak Demand. MILAN, Italy — Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe continued to weigh on the Italian luxury-goods maker.
Revenue fell 15 percent to €1.55 billion ($1.8 billion), the Hong Kong-listed company said in a statement Friday, missing the €1.65 billion average analyst estimate compiled by Bloomberg. Earnings also declined, though by slightly less than analysts predicted. As the wider luxury industry struggles for growth, Prada has been hit harder than most. That is partly because its handbags are too expensive and it is been too slow to invest online, according to Sanford C.
Britain Now World's Cheapest Luxury Market. LONDON, United Kingdom — In the wake of Britain's vote to leave the EU, which pushed down the value of the pound about 10 percent against the euro, the country has become the cheapest luxury goods market in the world, helping to buoy British luxury labels, at least in the short term, according to new research by Luca Solca, the head of luxury goods at Exane BNP Paribas.
Mulberry luxury goods maker sees profit treble. Image copyright Getty Images Luxury goods company Mulberry sees profits treble following switch to focus on more affordable products.
The company, best known for its leather handbags, saw annual pre-tax profits in the year to 31 March jump from £1.9m to £6.2m. Sales rose by 5% to £155.9m. Mulberry has struggled in recent years as a result of the company's failed attempt to compete with higher end brands, such as Prada and Fendi. Chief executive Thierry Andretta said it had made "significant progress". Forbes Welcome.