E-commerce is growing at a rampant rate, due to rising number of smartphones, easy accessibility to technology, along with convenience of shopping from any part of globe. On the other hand, e-tail happens to be electronic retail, where businesses are dealing in services and goods at a retail price via online stores. E-tail companies are selling products without any physical presence and being largely successful in it. Gone are the days when e-tail was just restricted to electronic equipment. Rapidly multiple luxury brands are entering e-tail segment. Many brands dealing in jewelry and clothes are making tremendous amount of profits by selling their products. Successful brands dealing in luxury sector are luring their consumer base with the help of emotional experiences. This is exactly why consumers go for their products mainly because their name or logo is visible on the product. Luxury brands growing online have clearly understood that emotion is the key when any product or services are need to be sold. This is the reason behind the growth of the global luxury e-tailing market.
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The global luxury e-tailing market flourished significantly in the period of the COVID-19 pandemic. Despite economic slowdown, luxury brands managed to sell products online. One of the biggest factor behind the growth of the global luxury e-tailing market is increasing disposable incomes of people across the planet. People are keener on buying luxury products that too online. Meanwhile, one leading factor that has been affecting the growth of the global luxury e-tailing market is growing concerns related to duplicity of products. This makes people more skeptical regarding online purchases.
Irrespective of few hiccups, the global luxury e-tailing market is forecasted to see massive growth due to incorporation of artificial intelligence (AI) that is helping the brands market their products easily.
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Key Takeaways – Global Luxury E-tailing Market:
- The personal care segment of the product category segment that is further fragmented into skincare, haircare, fragrances, makeup & cosmetics will be minting money at the fastest rate for this market.
- Mono brand business model will be more successful over the forecast period due to growing advertising campaigns targeted especially to drive the audience on the official website of the brand.
- App-based platform of the global luxury e-tailing market will remain everyone’s favorite due to their ease of use.
- The region of North America will make money at the fastest rate for the global luxury e-tailing market over next many years. Higher spending capacity of people in the United States and Canada along with more inclination towards purchasing branded goods will help the market grow.
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Competitors: Global Luxury E-Tailing Market
- BOP LLC
- Chanel Ltd
- Compagnie Financiere Richemont S.A.
- Crate and Barrel.
- HUDSON’S FURNITURE
- Luxury Perfumes Inc
- Moda Operandi, Inc
- Neiman Marcus Group Ltd LLC
- Nordstrom, Inc.
- RALPH LAUREN
- The Scent Room
- com LLC
- Other Market Participants
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Global Luxury E-tailing Market
By Product Category
- Personal Care
- Makeup & Cosmetics
- Home Accessories and Furniture
- Dining & Kitchen Furniture
- Bed & Bath Furniture
- Storage & Modular Furniture
- Fashion & Apparel
- Bags & Handbags
- Jewellery & Accessories
By Business Model
- Multi Brand
- Mono Brand
- Web Based
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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