An exploration of the luxury market through trends, insights and expert opinions
Automotive brands are using technology to meet luxury consumers’ demands for higher levels of engagement, personalisation and convenience.
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.