An exploration of the luxury market through trends, insights and expert opinions
With the global counterfeit goods market worth more than £331.8bn ($450bn, €375bn, source: OECD), the presence of fake goods on resale marketplaces could be set to rise. However, consumers are still struggling to identify the difference between real and fake goods. In a recent survey by customer data platform Red Point, 60% of online watch buyers said that they are somewhat confident in identifying fakes. After being shown pictures of fake watches previously sold online, 42% were no longer positive in their abilities.
In an era of on-demand culture, consumers have high expectations for delivery, particularly when purchasing gifts. A new report by the delivery service, Drop Off revealed that luxury shoppers are increasingly abandoning slow delivery estimates in favour of same-day delivery.