Home / Knowledge / News / Fashion / Luxury brands need to shift in digital direction: BCG
Luxury brands need to shift in digital direction: BCG
27
Sep '16
Courtesy: BCG
Courtesy: BCG
A new research report from BCG indicates that almost six out of ten luxury goods sales are digitally influenced and that for many luxury goods marketers, digital is a hard new reality and an inevitable, inescapable business shift. The report avers that brands should value digital technologies as a way to extend their services beyond the store.

The research, a survey of approximately 10,000 consumers in ten countries, also found that luxury ecommerce sales which now account for 7 per cent of the overall luxury market, will grow further to 12 per cent by 2020.

According to the report, brands cannot delay the move towards more virtualised interactions with consumers.

“Although many consumers will still want to interact physically with luxury products, they see virtual experiences as a path to more immediate gratification,” the report observed. “So brands should likewise value digital technologies as a way to extend and individualise their services far beyond the store.” (AR)

Fibre2Fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search