Post by stephenson2 on Apr 8, 2024 23:43:32 GMT -5
What can we learn from Burberry in Fashion online sales ? I recently came across a study done by ContactLab which reveals some amazing facts about Fashion Retail merging with Digital. According to their study “Digitally driven in-store sales already account for 1/4 of retail revenues already. The study anticipates that by 2020, luxury brands will virtually know each of their client by name.
Online sales, fashion retail and digital: The Burberry case
Online sales, fashion retail and digital: The Burberry case
What can we learn from Burberry in online sales, Fashion retail and digital?
Fashion retail and digital: The Burberry case
Burberry case: Online Sales in luxury business
They also state that separating digital USA Email List and physical luxury will make no sense by then. In fact, the digital playground will grow to 50% of sales with pure e-commerce to represent 2 to 3 times the current levels. I found a surprising fact: for luxury brands, e-commerce currently drives 6% of their revenue only. Digital is expected to drive about 40 percent of projected sales growth in fashion retail from 2013 to 2020. So what’s the secret here? Well, growth doesn’t simply just mean increase in e-commerce sales. It’s also about Digital Transformation.
The online sales Burberry case:
One great example here is the British brand Burberry.
Burberry underwent a seven- year transformation from an underperforming, marginalized, over-licensed, decentralized brand, to becoming one of the most beloved and valuable luxury brands in the world, tripling sales in five years.
One year before Instagram, Burberry introduced the Art Of The Trench ( online forum for people to post photos of themselves and others wearing the company’s coats). While competitors such as Prada and Marc Jacobs were still getting into online in 2010, Burberry’s customers could alreadyorder clothes directly from its runway shows as it streamed them live online.
The brand is embedding digital chips into products, which activate short films telling the story of its creation, including sketches and runway clips. How amazing is that? When a consumer moves around the store, these chips react with mirrors causing them to turn into digital screens thatdisplay further digital content. I went to their signature store in London and saw this first hand. Very cool experience.
Online sales, fashion retail and digital: The Burberry case
Online sales, fashion retail and digital: The Burberry case
What can we learn from Burberry in online sales, Fashion retail and digital?
Fashion retail and digital: The Burberry case
Burberry case: Online Sales in luxury business
They also state that separating digital USA Email List and physical luxury will make no sense by then. In fact, the digital playground will grow to 50% of sales with pure e-commerce to represent 2 to 3 times the current levels. I found a surprising fact: for luxury brands, e-commerce currently drives 6% of their revenue only. Digital is expected to drive about 40 percent of projected sales growth in fashion retail from 2013 to 2020. So what’s the secret here? Well, growth doesn’t simply just mean increase in e-commerce sales. It’s also about Digital Transformation.
The online sales Burberry case:
One great example here is the British brand Burberry.
Burberry underwent a seven- year transformation from an underperforming, marginalized, over-licensed, decentralized brand, to becoming one of the most beloved and valuable luxury brands in the world, tripling sales in five years.
One year before Instagram, Burberry introduced the Art Of The Trench ( online forum for people to post photos of themselves and others wearing the company’s coats). While competitors such as Prada and Marc Jacobs were still getting into online in 2010, Burberry’s customers could alreadyorder clothes directly from its runway shows as it streamed them live online.
The brand is embedding digital chips into products, which activate short films telling the story of its creation, including sketches and runway clips. How amazing is that? When a consumer moves around the store, these chips react with mirrors causing them to turn into digital screens thatdisplay further digital content. I went to their signature store in London and saw this first hand. Very cool experience.