Obtaining Luxury Goods Online

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Joined: Sep 11, 2018
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As soon as upon a time locating the ideal match for your buying preferences would take a minimum of a day's hunt. The arrival of e-commerce has changed a great deal previously couple of years. Buying has turn out to be more about mental involvement & less about physical exhaustion. But have the consumers really shifted completely from retail purchasing to e-buying? If so, is it really the best option?

1) Capturing the market space:

The process of purchasing can be broadly classified into two kinds:

a) Necessity shopping - Necessity shopping includes products we cannot live without like sugar, salt, grocery, etc. Availability of the required necessity products has hardly been a major problem for the retail shoppers.

b) Luxury buying - Luxury shopping (like a watch, watch case, electronic, electronics accessory, etc.) has time and again forced us to go out of our ways to ensure we don't regret our purchase. Interestingly, e-tailers have captured the market well in both categories. The e-commerce mainly competes in terms of 'price' for necessity goods and 'variety' for luxury goods.

2) Shift in Consumer buying preference:

Online shopping may have made purchasing easy, but it is hardly as satisfying as retail purchasing, where the process is quite simple and straight-forward. Many people consider online shopping risky. But is it true in all cases? An online survey, carried out in 2014, reveals that over 80% of the online shoppers entered the community to buy luxury goods. Interestingly, only 13% of the community shifted to buying even the necessity products online. Clearly, online buying has received a hearty welcome for luxury purchasing. However, when it comes to shopping for necessity goods the consumers have not been so welcoming.

3) Shopping for luxury goods online: Pros and Cons

The number of consumers purchasing luxury goods online has increased. But is it really the best way to go about it?


1) Breaking out of the one-brand perception: In online purchasing you get to explore several different brands as well as types at as soon as. Example - if you wish to purchase a watch case by one brand, you get to compare it with a watch case offered by another brand. Retail stores can hardly offer this level of unrestricted browsing.

2) Return policy: At a retail store, you can try on a T-shirt and see if it fits you. But after purchase, you won't get your money back even if you wish to return it. Online buying offers what the retailers have hardly been able to provide - Freedom to return the product (within a certain deadline). Risky as it might seem to buy a product without getting to check it for real, almost all online shops provide a return option.

3) Convenient buying: Imagine purchasing a product like a watch case at a retail shop. Should you go to a watch shop or a gift shop? Which shop is the best? How far is it? When can you go? It would be a pretty tedious task. But online shopping has changed the whole experience. You can go online at midnight. You can browse through hundreds of watch cases within a span of a couple of minutes and your watch case will arrive at your doorstep.
About author: Thomas Shaw

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