Luxury! That glittering realm of elegance, creativity, and desire that continues to capture our hearts. But how is it evolving in the post-pandemic landscape? Let's shine the spotlight on the relationship between luxury and e-commerce in the era of the 'new normal'.
The initial enthusiasm for online shopping, unleashed by the pandemic storm, seems to have found its calm, showing a sweeter, mature growth both in Europe and across the Atlantic. The "Ecommerce Hangover" report by Storeis offers us a glimpse into this shift, revealing a gentle yet firm descent in the growth of online sales, from +43% in the first quarter of 2020 to +18% in 2022, softly landing at +4% in the first quarter of 2023.
Italy is no exception to this trend, with the number of online shopping aficionados remaining solid, but with a slight brake in online purchases in the early months of 2023. And we are not alone, with giants like Zalando feeling the change of pace and the United States following a similar trajectory.
Many brands in the throbbing heart of fashion were caught off guard by this "ecommerce hangover," having bet on an unstoppable digital ascent post-Covid. Now, expanding in the digital world is no longer a sprint race, but a strategic marathon. The playing field has evolved, and with it, the rules of the game.
In the midst of this rebalancing, the world of luxury is exploring the new rules of the game in the 'new normal,' which has opened new horizons for the fashion sector. In a world where economic uncertainty is the only certainty, consumers are becoming more selective with non-essential expenses. Yet, the global luxury market has seen a brilliant recovery, with 95% of luxury goods brands recording positive growth in 2022.
The report "What’s happening in Luxury in 2023?" by Storeis shows us that more than two-thirds of consumers (69%) have rethought their expenses, while 96% plan to save in the next six months. The Chinese market, a pillar of luxury, continues to grow (+10% in 2023), followed by Asia-Pacific (+8%) and the United States (+5%).
The analyses unraveled by Storeis, a beacon in the world of e-commerce based in Padua, underline the importance of a well-concocted distribution strategy and a targeted merchandising plan to successfully navigate the turbulent waters of the current economy. With a revenue growth of 74% in 2022, Storeis is guiding brands through digital transformation, offering a reliable compass in an evolving e-commerce world.
In this bold exploration of the digital, Storeis emerges as a beacon of innovation and strategy, helping brands navigate through the changing waves of luxury and e-commerce, towards promising horizons. With a constant commitment to innovation and training, and a range of services embracing SEO optimization, UX, and media management, Storeis profiles itself as the ideal helmsman for brands aspiring to shine in the tempered digital era.