Ralph Lauren, Michael Kors Dominate Luxury’s Online Market Share: Report
Consumers visited luxury brand Web sites a total of 185.2 million times in the last 12 months, a decrease of 11.2 percent year-over-year, according to a new report from PMX Agency.
While consumer visits have dropped off, many brands in the luxury space have upped their Web features to accommodate ecommerce and strengthen awareness in a bid for traffic and to answer shopper’s online expectations. PMX Agency’s seventh annual “Trend Report: Luxury Brands Online” gives an overview of site visit, brand searches and social media interaction metrics to paint a clear picture of reach and consumer engagement within luxury.
“The drop in online visits can be attributed, in part, to external factors like fluctuating exchange rates, uncertain economic outlooks across the globe and reduced travel due not only to financial concerns but also terrorism,” said Glenn Lalich, vice president of research at PMX Agency.
“Also notable is that more luxury interactions may be occurring solely with social platforms on social applications – predominantly mobile–and not always reaching the traditional luxury brand Web site,” he said.
PMX Agency tracked more than 80 new and established luxury apparel brands for its benchmark study of the industry’s online behavior.
Read the full story, with insight from PMX Agency VP of Research & Analysis, Glenn Lalich, here in Luxury Daily.