INCREASE IN LUXURY ONLINE PRESENCE

The luxury fashion houses which have previously courted a strategy of exclusivity and scarcity are increasing their online presence, and many show growth in digital performance and reach.  In a report by investment company, Exane BNP Paribas, 32 luxury brands were assessed.  Burberry came out on top regarding their integration of digital and physical platforms, with Louis Vuitton and Gucci closely following, while Hugo Boss improved their performance by nearly 30% from the previous year.  Increases in online performance go hand-in-hand with e-commerce overhauls, according to Luca Solca - an author of the report - and brands who do not fully adopt digitalisation are lagging behind and not meeting performance potential.  As Generations Y and Z become a more powerful purchasing force within the luxury market, digital platforms and authentic online experiences regarding luxury brands are set to become even more of an integral part of brand’s offerings.