One of the foremost verticals in the global economy, that since the 2009 global recession has witnessed a significant improvement has been the luxury industry, where in the consumers, instead of slowing down, on the contrary have showed a rising spending trend on a number of products and services. This has been further affirmed by a recent survey conducted by one of the foremost marketing consulting firms, Unity Marketing. As per the report, the incredible progress experienced by the luxury market has been the direct result of the marvelous advances made in the world of Internet and mobile communication. The survey revealed that four out of five luxury consumers, conducted their shopping transactions online via either PCs or laptops, whole the demographics between the age group of 24-44 years, largely preferred their smartphones and other mobile devices via mobile applications for online luxury shopping.
The Internet, that has fast transformed into a social media domain and has been the platform for some of the most popular social networking services such as Facebook, LinkedIn, and Twitter etc. has proven to be invaluable to the luxury industry. With the web as a common platform, both consumers and marketers alike have taken this opportunity to reach out to any many people as possible, form new connections, discovers products as well as brands and then conduct their activates. Online purchasing and marketing has proven to be quite beneficial for the consumers, as they now have a more varied level of choices to make, while accomplishing all that from the comfort of their homes and offices.
Mobile devices too have been greatly contributing in this increasing spending trend, as far as the young generation is concerned. The affluent consumers between the age group, 24-44 years use the Internet and social media to explore brands and create valuable relationships with companies, using their mobile devices. The luxury brand applications that are available on various renowned mobile platforms such as Google Android devices and Apple iDevices, have enabled the consumers to sift through catalogs, conduct purchases and create loyalty towards the 21st century luxury products, services and brands.
According to Pam Danziger (President, Unity Marketing)
“This finding that virtually all affluents use the internet for shopping is a particular boon for luxury marketers. Luxury marketers should be embracing the internet as a 24/7 opportunity to sell, to provide information, and to form relationships, all without the overhead associated with a bricks-and-mortar store.”
Via Unity Marketing