It was a belief that consumers of luxury products would not buy online given their discriminating taste and preferences for high-priced products. That they only prefer personalized customer service and a tactile shopping experience to take in the 'sense' of luxury shopping. This notion has evolved over the recent years given the success of specialist e-retailers like Art and Decors in India and Net-A-Porter in the UK. Customers are not only willing to shop online but also shop at undiscounted prices whether it’s for a Rs 20,000 Murano Glass Centerpiece or a Rs 150,000 Italian marble sculpture.
Luxury shopping has evolved from customers valuing the whole luxury buying experience less and valuing more the product experience that feels luxurious coupled with ease and convenience of shopping their own way. It is a fact that people who have larger disposable incomes often have lesser disposable time and therefore being able to buy on their terms in the comfort of their pajamas rather than dressing up is far more appealing than the thought of taking time off and going to a retail store and the whole harrowing experience of travelling on congested road networks. This segment of customers is also not very interested in downloading apps or spending a lot of time on social media except for researching from other people who shop the same way that they do.
Therefore, with product information and awareness being made available at the click of a mouse or a swipe away on your mobile device decision making to buy affordable luxury products has eased up and purchasing is being done faster than ever before. The younger generation today is also growing into affluent customers and one which knows what they want given their global exposure and desire to lead a life comparable to the one they see or have experienced in the western world.
Given all of the above, online sales for affordable luxury products will continue to grow rapidly especially in this part of the world. With forward-looking companies like Art and Decors, India’s premier affordable luxury e-commerce brand the whole ecosystem is being created where the product experience and the rewards of shopping online are creating a significant difference to how affluent customers shop online. Especially when products are not available anywhere else. For luxury brands, both established and upcoming this is the opportunity to tap into a channel that will soon outpace offline sales.
(Author Divyan Gupta is CEO and Founder of Artanddecors.com)
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