The 2021 Fashion Ecommerce Trends Report from SaleCycle found that luxury items sold online have an average order value (AOV) of $272.57.
While only 9% of all luxury sales are made online, as per The Drum, 25% of total luxury item sales could be online by 2025. At 60%, most luxury fashion sales take place through mobile devices, compared to desktop (40%).
AOV of luxury products is relatively higher than consumer fashion, as these require higher pricing and a different marketing approach. Millennials and Gen Z are anticipated to make up 40% of the luxury goods market by 2025, according to Deloitte.
Despite open rates (42.99%), click rates (28.02%) being higher for luxury fashion in email marketing, the conversion rates (26.61%) are lower when compared to consumer fashion (31.81%). Luxury brands must enhance consumer experiences, optimise site-usability, and offer post-sales interactions to improve online sales.
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