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Global Online Luxury Goods Market: Trends and Opportunities (2014-2019)

  • November 2014
  • -
  • Daedal Research
  • -
  • 60 pages

Summary

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Scope of the Report

The report “Global Online Luxury Goods Market: Trends and Opportunities (2014-2019)” analyzes the online luxury goods market, its development, market segments and penetration of the online channel in the sales of luxury goods. The mature markets of America and Europe along with emerging markets of China, Japan are discussed in the report. The major trends, drivers facilitating growth of the online luxury goods market as well as the issues being faced by the industry are presented in this report. The three major players in the online luxury goods industry - YOOX, ASOS and Zalando are profiled and their key financials and strategies for growth analyzed in the report.

Country Coverage

- Americas
- Europe
- India
- China
- Japan

Company Coverage

- YOOX Group
- ASOS Plc Holdings
- Zalando GmbH

Executive summary

The e-commerce channel in luxury goods sector is gaining importance and has recorded consistent growth over the past few years. With technological innovations, more luxury shopping websites are emerging that is allowing luxury fashion brands to reach more customers through online platforms. Factors contributing to the growth of online luxury goods sector include wider selection of products offered on the web, growing perception of web as a safe place to make purchases and the search for convenience.

While online luxury spending accounts for a small percentage of total luxury spending, the trend towards an increase in the number of internet users and people completing orders online together with the higher average annual expenditure per user will boost market growth in future years. In addition, the shift towards emerging markets becoming big spenders on luxury is assumed to have great impact on online luxury goods sector.

A growing number of fashion, design and luxury companies are considering it as a platform for brand building. Furthermore, the possibilities of social networking platforms like Facebook allow for more personalized and individualized communication with consumers. By category, accessories constitute the largest portion of luxury goods that are sold online followed by apparel, beauty products and hard luxury. YOOX, Zalando, ASOS, Blue Nile, Amazon are main players operating in online luxury goods sector.

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