2015-2019 Annual Report On Global Luxury Online Retail Market

According to a report by Technavio, a market intelligence firm, multi brand retailers dominate the luxury electric business market, and four of the top five electricity suppliers belong to multi brand retailers.

According to the 2015-2019 global luxury online retailing

"When shopping online, luxury consumers are more likely to choose to shop in a multi brand environment. This tendency will promote the growth of luxury e-business.

Nowadays, the development of multi brand e-commerce is faster than single brand e-commerce. The service provided by multi brand e-commerce is more comprehensive, such as free delivery and a simple return policy, simplifying the online shopping process and enabling consumers to enjoy the online shopping process.

The competition in the online retail market is becoming more and more intense.

Fierce market competition brings great risk factors to their retail business. Logistics pportation problems and customs problems will become obstacles for foreign retailers to enter the domestic market.

The competition among retailers lies in the competition of online customer services, including product prices and quality, new speed of products, convenience of shopping, website technology and personalized service of customers. Many retailers also interact with consumers on social media.

Therefore, there are people in the industry who believe that if they want to succeed in a competitive environment, retailers must ensure that their products and services have clear and unique value proposition.

According to Technavio data, global luxury goods in 2014

The total paction volume is US $21 billion 430 million, and the annual growth rate of the market expansion is 14.28%. Technavio predicts that the total amount of global luxury electric business pactions in 2019 will reach US $41 billion 760 million.

The competition between old retailers and new retailers is fierce, because they sell the same products and can only retain customers through differentiated online services and shopping experience. Retailers who can provide customers with clear and unique value proposition can often succeed.

Technavio ranked the top five luxury online retailers based on the proportion of retailers' turnover in total merchandise sales.

Nordstrom, the top grade department store in the United States, ranks first in the business of the same name, accounting for 11.67% of the total volume of pactions.

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In 2015, Nordstrom electricity supplier launched the mobile phone shopping service. Customers can communicate with customer service through SMS, so as to finish shopping easily.

The second place is the United States for sale.

The main Neiman Marcus group accounts for 5.36% of the total paction volume.

Neiman Marcus group has launched a customized service called MyNM, which can customize shopping experience according to customers' preferences.

In addition, the group has set up a trading platform on the two major social media Instagram and Pinterest.

This method is very strategic. 40% of the consumption in the market is induced by network interaction. Even though customers do not directly finish shopping through social media, most consumers will be influenced by social media, and they will choose to buy the product because they have seen the same product in social media.

At the same time, Neiman Marcus group is also working with The RealReal, a second-hand luxury goods supplier in the US. Customers can use Neiman Marcus's gift card to shop on The RealReal platform. In order to stimulate consumption in this way, customers will receive an extra 10% points.

The third place is the US Saks Fifth Avenue, which accounts for 4.2% of the total paction volume.

Some of the shares of the company are held by Hudson s Bay, Canada. At present, the Saks Fifth Avenue business is managed by HBC Digital team of Hudson s Bay company. The team attaches great importance to the development of mobile terminal shopping. Therefore, the mobile phone business of the company has developed rapidly.

The fourth place is Ralph Lauren, the only single retailer in the top five retailers.

Ralph Lauren provides a lot of choices for consumers of online shopping. According to a report by ContactLab and Paris Bank of France, Ralph Lauren is the largest brand of all luxury brands.

The fifth place is Net-A-Porter. Last year, the group released online magazines. In addition, the group also launched the social shopping platform The Net Set, and the consumption experience was upgraded again.

In some specific areas, the arrival or arrival of goods on the next day has become a characteristic business of Net-A-Porter.

Some luxury brands are still preparing for the opening of online sales services. Redefining the website as the flagship flagship store can help consumers understand the brand, let consumers know that they are shopping online and shopping in physical stores. It also encourages consumers to shop online, and some retailers will also provide exclusive gifts online.

A Google study in 2013 found that 98% of the wealthy consumers would use at least three devices to access the Internet everyday, so retailers should seize this part of the wealthy consumers to facilitate their shopping.

Facing the impact of the electricity supplier, the pressure of department stores is increasing, but the sales of all directional channels still make the store retain competitiveness.

As the number of single brand boutiques increases, the electricity providers become more and more developed. Department stores also face the dilemma of declining flow and gradually losing market share. They have to use their strong store customers to stream to the Internet and provide them with comprehensive shopping services.

At present, luxury online sales account for only a small part of luxury sales, but this proportion is growing steadily.

With the increasing number of affluent consumers in China and Brazil, online sales of luxury goods will increase substantially.

Vijay Sirath stressed: "Chinese consumers have become the largest consumer growth group and the largest consumer group. In 2013, Chinese consumers spent 3 times more on overseas luxury purchases than domestic ones."