Luxury Goods: E-commerce, Back to the Future
E-commerce is set to be the fastest growing channel until 2025 with a strong pace of growth – at 20%, within the luxury goods market growing by 4%-5%, and thus generating 43% of the luxury goods market growth. At luxury goods firms, e-commerce looks set to undergo the same transformation that their physical operations saw in the 2000s. This means more ‘retail’ digital business models, with more direct control by brands. In this paper, we examine how this shift might play out and what it means for the luxury industry and groups.