Digital luxury

Abstract

Technology has definitely changed the landscape of consumer behaviour and the way business is conducted, including luxury fashion management. The impact of the digital revolution on consumers in the last ten years is overwhelming. The Internet has empowered consumers more than ever before and has elevated their product and brand expectations. The Internet also provides online consumers with instant information, and lower switching costs in terms of time, information, product comparison and purchase. As a result, the task of retaining the attention and loyalty of consumers has also become more challenging.

‘Luxury brands have been slower than most to unlock the potential of e-retail. They have struggled to overcome the challenge of making their digital environments as alluring as their stores.’

Mark Tungate, writer and branding specialist and author of Fashion Brands: Branding Style from Armani to Zara