There is a huge untapped opportunity to sell luxury goods online, fuelled by digital communications that inspire a daily "urge to splurge", the Shoptalk Europe conference (Copenhagen, October 2017) heard.
Ulric Jerome, CEO MatchesFashion.com, the online luxury fashion business valued at US$1 billion, explained that while 20% of general apparel is now sold online, 50% of consumer electronics and 60% of travel, only 8% of luxury goods are now sold via e-commerce.
This is despite heavy digital usage by the buyers of high-end goods, and the ability to make the process of receiving goods fast and easy. MatchesFashion.com, for example,...