Net-a-Porter, the luxury online retailer is raising the price point under which it operates and has placed its most expensive item ever for sale. It is an embellished red dress by the Italian label Dolce & Gabanna and carries a price tag of £32,000. This is the culmination of a growing trend of customers making significant and expensive purchases online. There is an upward trend in the average prices prevailing in the online stores. Net-a-Porter’s buying manager, Ben Matthews is confident about the expensive dress as he has bought six of them. It is a limited edition creation and he has bought half the quantities produced.
Customers Are Willing to Pay Large Sums for Their Online Purchases
Masterfashion.com has had a similar experience as its customers are increasingly willing to spend large sums on online purchases. They are able to sell vintage Hermes bags priced at over £25,000 regularly. The bags are snapped up as soon as they are uploaded on the site. AstleyClarke.com confirms the trend as they are executing fine jewelry orders of £10,000 with increasing frequency. There are other fashion online retailers who are seeing items between £2,000 and £10,000 sell out especially quickly. High priced branded designer jackets sell very quickly as the women today know when they will wear what they are purchasing.
Fashion Industry Has Successfully Fought the Price Resistance
The fashion industry has whole heartedly adapted the online platform and has been quite successful in breaking the price resistance. They were apprehensive about the online option as it was assumed that customers would not buy expensive items without trying them on. But the market scenario has changed significantly and online marketers are stocking items with jaw dropping price tags. They are more confident about selling even the most expensive items as they are catering to an international clientele. The £32,000 dress in question, all six of them, with heavily embellished surface decoration should find buyers soon. If the online luxury retailer is able to sell their most expensive item with relative ease they will surely be encouraged to go in for even more expensive items.