Study shows luxury sales shifting online

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Tablet online shopping with credit card

Retail research firm L2 has released a new report that reveals luxury sales tremendously shifting online. The new findings show that the number of luxury sales that start online or end online, through e-checkout, has the potential to grow by 40 per cent by 2020.

At the moment, only 5 per cent of luxury sales are done on the web. And while the report points to the fact that around 50 per cent of luxury sales are ultimately somehow influenced or triggered by a customer’s experience online, only 45 per cent of luxury brands endorse e-commerce. That number stands at 88 per cent for fashion brands.

Researchers are predicting that luxury sales done online will grow from 5 per cent in the next five years. They suggest for luxury companies to also offer their customers access to retail via mobile phones and tablets. CJ

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