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Luxury Digital Transformation

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Agility Not Profit Key to Success of Luxury Brands

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The Fresh Kid

14th January 2024

3 minute Read

what is luxury digital transformation

Digital Transformation will be Death or Rebirth of Luxury Brands

The main reason luxury brands are investing in ecommerce is because of the luxury customer. The luxury customer for the last 10 years has been shopping more online and even more so in the last 3 years when they were locked at home during the covid pandemic.

During this time some bricks and mortar retail focused luxury companies lost up to 90% of their revenue.

Luxury Ecommerce Grew at a faster rate in 2019

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luxury ecommerce

What is Luxury Digital Transformation?

Many large luxury brands are working on making their business more digital. In the most part they are investing in new technology to improve the customer experience on their websites, building new websites to enter new countries and re-educating their employees on data and tech.

This is often referred to as Luxury Digital Transformation.

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luxury digital transformation examples
To power up e-commerce growth, the digital customer experience and behavioural insights are priorities for data and analytics according to fashion executives