Luxury E-Commerce
Luxury e-tailers need to pay specific attention to:
• Quality content and a unique voice
• Merchandising of luxury products in a way that the consumer can relate to in style, fit and context
• Enhancing the customer experience overall, particularly for each device
• Opportunities for customers to interact, share/read reviews, recommend to their friends
• Simple shopping basket and easy check-out always
for a wider consumer market. Some of the best smartphone shopping apps on the market are centered around helping consumers save money on everyday purchases, whilst others provide price comparisons, help you find nearby stores, or provide customer reviews. There are also apps that are technology enablers for innovations such as picture recognition and barcode scanning, with a product base centered around the high street.
There has also been a surge in luxury shopping apps over the last few years, as a percentage of affluent customers still use a smartphone to make their purchasing decisions. Demonstrating that the plethora of apps available is enough to sway the consumer on their choice of device, it has been shown that of all the people who don’t currently shop on mobile devices, one in four intends to use mobile apps to shop in 2013. With increased opportunities for brand interaction and engagement, it’s no surprise that 38% of tablet shoppers and 42% of smartphone shoppers responded that app interactions strengthened their connection to the brand. There is also research to show that purchasing behaviour is most often influenced by a recommendation from a trusted friend, which creates the need for social sharing features in e-tail apps– such as sharing products, reviews and news – to be effective in driving purchases and app downloads.
How do retailers continue to adapt to differing digital shopping experiences? With purchasing behaviours of affluent consumers constantly evolving, luxury brands are now setting up their own e-tail channel, along with multi-brand e-commerce pure-plays developing strategies around this. We have seen that the way people shop is not as simple as the two category approach of ‘online’ or ‘offline’ anymore and e-commerce players who assume a customer (particularly an affluent customer) will shop on their site despite not having a particularly good experience or a mobile/tablet strategy should think again. Segmenting audience types aside, consumers in general are more likely to shop from sites that make it easy to shop, select, view the basket and make payment, where the format fits the device and enhances the experience. Where this is not the case, frustration could lead to losing the customer. It would be interesting to know what the switching costs are due to brands and retailers not investing in making their platform smartphone and tablet enabled.
The good news is that major ecommerce sites and emerging social media sites are now collecting the data and building the tools to examine a multitude of factors that influence shopping behaviours. As this information is collected over time, we will be able to gain valuable insights into the shopping behaviour of consumers and how best to satisfy their digital needs.
25 entrepreneurcountry
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