I’ve got some great news, kids: we just might make it after all.
Making an even much better situation that luxury brands need to step up their online game, online sales for July 2009 were up nearly 16% from the previous month, as well as 17% from July 2008, which was before the year’s economic collapse took place. The fastest growing sector? Clothing, shoes as well as accessories.
Since online sales on the whole are gaining at a steeper rate than those of brick-and-mortar locations, luxury brands look like dinosaurs more than ever for their reluctance to go into a marketplace that might save their businesses. more importantly, sales of luxury goods in particular are down in stores, while the same types of goods are experiencing a bit of a resurgence online, as well as most of the brands we understand as well as love are poorly equipped to reap the benefits of this rally.
We’ll have a more in-depth look next week at what the slowly recovering economic climate means for designers as well as brands, however for now, an boost in consumer confidence as well as willingness to spend, encouraged by new collections as well as enticing discounts, means that the brands you love are more likely to live to fight one more day as well as more able to take style risks as well as completely flush out their vision. however none of that will matter if they can’t get their products placed in a way that makes them enticing to consumers that are progressively looking to shop online.