Luxury brands must up online games amid coronavirus outbreak
Two-thirds of high-end shoppers are more comfortable making expensive purchases online since the Covid-19 pandemic began.
However, 90% believe luxury brands and retailers fall behind their high street counterparts for online experiences, according to research by Norstat on behalf of AR firm London Dynamics.
Over 1,000 people were surveyed, with 60% stating they have abandoned an online purchase of luxury goods because they could not see enough of the product to make an informed decision.
Michael Valdsgaard, President and CEO at London Dynamics, and a former Ikea exec, says: “2020 was a desperate time for the luxury retail market, with flagship stores left deserted by a lack of tourism and footfall.”
He adds: “Luxury brands and retailers have often been reluctant to invest in their websites for fear of losing the sense of exclusivity they get from their bricks and mortar stores.”
“However, the pandemic has clearly accelerated the move online for high-end shoppers and retailers must adapt accordingly.”
Valdsgaard concludes: “The advent of new technologies such as augmented reality can help luxury retailers deliver a high quality, engaging experience for customers.”
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