With the advent of “Internet” and e-commerce software solutions, today, anyone can sell products over the web. However, not all products are easy to sell online!
Selling products online can bring you many advantages, however, for a luxury brand, there are drawbacks too. For those who are willing to start selling luxury brands online but have postponed your launch, just because you are not aware of the outcomes, continue reading the blog.
Below are the pros and cons of selling luxury brands online
Luxury brands also known as high-end products can include clothing, accessories, watches, jewelry, perfumes, and cosmetics. Such brands are highly-desired and are associated with rich and affluent people.
Firstly, let’s look at some of the major pros of selling luxury products online
– Attract next-generation luxury shoppers
High-street stores often worry about losing their exclusivity by making an online presence, however at the same time they are losing a huge mass of potential customers (younger generation) who always prefer to shop online. Today’s youth, are super-connected, super demanding, super savvy customers, and technology has revolutionized the way young they connect with several luxury products that include fashion apparel and accessories, jewelry, cosmetics and watches over multi-brand sites. With brick-and-mortar store accessible to a certain amount of local shoppers, an online presence will be open to anyone. This way, having an online presence will help you divert next generation fashion lovers and make more money from your online business.
– Easy access
Today, shoppers spend more time on the Internet for browsing, selecting as well as making purchases. Therefore, having an e-boutique for your luxury brand, you will allow modern luxury shoppers an instant availability and convenience to shop for your high-end products. They feel very comfortable in an online environment, as it allows them an ease to spend a large amount of time to browse luxury products from the comfort of their home.
– Latest trend and product information
Brick-and-mortar stores for example, often find it difficult to live up with the latest trend and product information. With high speed of communication online, e-boutiques can. Today, there are multiple resources that include websites and blog pages that allow ample information and review about hottest brands and information, which makes it easy for them to make an informed purchase over the web. There are many cases where shoppers have a hard-time with audacious store associates. Hence, to avoid those nasty situations, nowadays it’s seen, more and more high-end shoppers prefer to go online for shopping a luxury brand.
– Multiple delivery options
One of the major advantages to have an online presence for luxury brand, you can allow your customers with multiple delivery options that results to a better and unique customers service experience. Being innovative with your customer service, will help you win the game. For example, you can give your customers an ability to place the order online and opt for an in-store pickup. This way your customers will feel safe to shop high-end products from your e-boutique.
Major Cons of selling luxury products online
– Brand Identity
Unlike regular ones, Luxury brands have an exclusive identity which is one of their major strength that helps them attract the correct audience (wealthy people) to make a purchase. On the other hand, having an online presence can damage a brand’s elite and exclusive status, as it is open to all. Therefore, online selling of luxury brands can be a disadvantage.
When a customer thinks of shopping online, expects a competitive price compared to a traditional store. However, luxury brands need to maintain their their exclusive identity. Therefore, by having an online presence for your luxury brand, you won’t have an ability to command a high price, which automatically affects the exclusiveness of the brand.
Luxury brands reflects a unique status which automatically entices high-end customers to make purchases. However, internet offers a very impersonal shopping platform that are unable to display a true luxury brand experience. Therefore, showcasing your high-end product’s quality can be a challenge when you think of opening an online store for your luxury brand.
Dolce&Gabbana, and Gucci are established luxury brands examples known for offering high-end products online. Having a successful offline presence, these brands have captured the heart of many high-end online shoppers by offering them high level of service and an atmosphere similar to a high-end traditional store. Therefore, regardless to those above cons, coming up with some winning strategies will make your luxury brand visible and most preferable for online shoppers.
Savio Fernandes is a writer who influences. Writing for over three years at Orderhive, he is currently focused in offering eCommerce and retail solutions for start-ups and medium business owners.
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