Online Retail is the buzz word these days, with almost everything happening online…Reading the news, chatting, purchasing for daily groceries, checking out new products and reviews…and even buying them online.
Apart from regular purchases, a new breed of luxury shoppers is slowly emerging on the online market scene. As they search for exclusive and unique products, the dealers also find a new platform to showcase their products and service on, which are truly luxurious.
Luxury shoppers are found across all age groups and prefer to spend on luxury items and designer goods. They are likely to spend more than £500 annually on such goods and as they are largely unaffected by the global economic situation, they would not mind spending considerable amounts on the product of their choice. This class of shoppers does exist in the United Kingdom as well as countries in Europe and the United States as well.
Using the Internet as the main source of information and market places, most of these purchases occur around promotion offers or cash back offers which suggests a lot of impulsive purchases. Those who opt for venturing out in the physical market also research thoroughly before making their purchases.
More than 50 percent of purchases come into this category of impulsive shopping. The remaining percentage of them is patient enough to wait for additional offers and discounts but yet they do not hesitate to go ahead with the purchase after initial waiting period. Promotional offers, Loyalty rewards and Cash Back offers attractive them and they usually purchase the goods they want.
Research has shown that most of these luxury online buyers have made unplanned purchases. This encourages online retailers to showcase their products in an effective way imploring them to purchase online. Luxury shoppers are in that category of shoppers who are likely to continue their money spending irrespective of the economic situation.
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