London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global luxury e-tailing market, which is expected to grow at a CAGR of 14.28% during the forecast period of 2015-2019.
“E-tailing is an affordable and strategic medium for the sellers as it has come to be the most efficient channel to reach potential customers and maintain a close proximity with existing buyers. The variety of the product assortment available online, web exclusives, online-only deals, more inventory, and no sales tax often attract customers to online shopping,” says Faisal Ghaus, Vice President of Technavio.
Personal luxury goods dominate the luxury e-tailing market, occupying around 62% of the total market share. The personal goods e-tailers are those that provide multi-brand and mono-brand offerings used by the customers for their personal use including watches, jewelry, apparel, and fragrance and cosmetics.
Segmentation by Product
Source: Technavio, 2015
The global luxury e-tailing market has been growing tremendously because of a larger Internet penetration. The online personal luxury goods sector is gaining importance with the rising e-commerce fashion market. The multi-brand environment enables prospective consumers to compare prices as well as features and make the final deal.
Key Market Drivers
- Increased penetration of Internet technologies
- Variety and convenience
- Improved customer satisfaction
- Embrace of e-commerce
Key Market Trends
- Digital marketing
- Mergers and acquisitions
- Price comparison
- Increased adoption of multi-channel retailing
Key Market Vendors
- Net-A-Porter
- Neiman Marcus
- Nordstrom
- Ralph Lauren
- Saks Fifth Avenue
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Luxury E-tailing Market 2015-2019, please send an e-mail to media@TechNavio.com.
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