The luxury goods market has been the longest holdout when it involves adapting to online shopping. Despite e-commerce witnessing an increase for years, many luxury brands fear that they're going to lose their elite status by moving to the web. But e-commerce expert Raymond Scott Jr. and Gemma Fine Jewelry, CEO Ori Vechler, share how e-commerce is beginning to penetrate the posh market, and why this is often only the start . According to Vechler, there are two main reasons why luxury brands don’t wish to sell their goods online. “First and foremost, luxury brands worry that by selling on a standard platform, they become more pedestrian. They don’t want to risk losing their status as an elite market,” said Vechler. Secondly, he says, luxury brands have always focused on the in-person customer experience. Their brand strategy is about the experience of shopping for the merchandise, not just the merchandise itself. According to Vechler, these two tenets are pillars of the ...
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