Luxury eCommerce – Brand Awareness in Europe

August 02, 2021

The traditional image of luxury retail is one of a high-end brick-and-mortar business often located in an exclusive historic or architecturally exquisite building in a vibrant city center – luxury brands have long counted on brick-and-mortar to bring across their key message of exclusivity. eCommerce is, however, slowly gaining traction also in the luxury retail segment. As generations Y and Z are reaching the age of full-income earners, the percentage of affluent and at the same time digitally savvy consumers is rising. Although the bulk of sales in the global Luxury Goods market is still produced via offline channels, the share that online channels contribute is constantly rising, according to the Statista Consumer Market Outlook. Digitally well-developed economies like China already reach online shares above 30% in the Luxury Goods segment. The Statista Global Consumer Survey found out that also in Europe, the awareness of certain online luxury stores is already quite high:

The Statista Global Consumer Survey Content Special on Luxury Shopping is an exclusive representative consumer survey carried out in six relevant global markets on the topic of luxury retail. The results give exciting insights into consumers’ behavior and attitudes towards luxury shopping, their shopping habits and touchpoints with luxury and premium products. The survey found out that most consumers in the three important European markets Germany, France, and the UK are aware of at least one eCommerce brand in the luxury goods segment. The most well-known luxury online store in the respective country each reaches an awareness of more than 50%. British consumers seem to be the most active online luxury shoppers in the comparison – at least as far as brand awareness figures suggest. The top three most well-known brands among British online shoppers – Harrods, Harvey Nichols, and Selfridges – all reach percentages above 50%, and Harrods has the highest brand awareness of all brands in the comparison. French online shoppers – on the contrary – seem to know a smaller number of different online luxury brands. While the top two in France – galerieslafayette and veepee – reach an awareness of 59% and 37%, respectively, all other brands are known to less than 15% of French online shoppers. What strikes the eye is that consumers in all three countries are most aware of local online store brands. International brands like net-a-porter or farfetch are in midfield in all three countries in the comparison, while it is a local player each that leads the respective country ranking. If the trend towards more online shopping in the luxury segment continues, brand awareness in luxury eCommerce is also likely to increase in the future.

 

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