Havas Market’s Post

By 2025, the luxury goods market in the Philippines is projected to reach $250 million in revenue, with approximately 20% of sales expected to occur online. While the Philippines may be relatively new to Luxury eCommerce compared to other ASEAN countries, this presents a prime opportunity for brands to reassess their positioning and become early adopters in the digital space. The National Economic and Development Authority (NEDA) has forecasted that the Philippines will achieve upper-middle-class income status by late 2025. This transition suggests a significant increase in purchasing power, particularly with the growing presence of millennials and Gen Z in the workforce. Interested in exploring opportunities in luxury eCommerce? Contact us at Havas Market.

Shopping at a luxury brand is traditionally synonymous with a sumptuous in-store experience. However, as new demographics become luxury consumers, brands have to find new ways to engage with them online while protecting their exclusive brand image - as this new guide from Havas Market shows. It delves into the trends luxury brands are embracing, the challenges they're facing while navigating the transition, and the brands and platforms that are leading the charge in the new frontier for luxury.

Havas Market launches their newest white paper on the booming Luxury eCommerce landscape. Read below for key insights into industry trends, challenges, and pioneers. 💍 ✨ #HavasMarket #MeaningfulShoppingExperiences

Did you know that nearly 80% of luxury sales today are digitally influenced? 💻 The traditional luxury shopper who begins and ends their journey offline is becoming rare, now representing just 22% of all luxury shoppers. The landscape of luxury retail is shifting, and digital touchpoints are more critical than ever. #Timsoft #Luxury #Digital #Retail #Insights

The Luxury Goods Market: Navigating Challenges and Opportunities Despite a downturn, the luxury goods market in the UK is projected to deliver a revenue of $17.2bn this year. Head down to Knightsbridge or Chelsea this summer, and you’ll still see busy boutiques and throngs of people with designer shopping bags. In this competitive landscape, even the most in-demand brands have realized that loyalty schemes and exclusive membership benefits can lead to bigger bottom lines. Unlike supermarket points cards, luxury loyalty schemes offer prestige and unique rewards. Innovative retailers now offer points for promoting the brand as well as purchases. There are three main categories of luxury loyalty schemes: Traditional luxury brand loyalty schemes Points and reward schemes favored by younger influencers and fashionistas Super exclusive, invite-only options for the most favored customers Are luxury loyalty schemes worth it? Absolutely! Benefits include fashion show invites, discounts, and customized gifts. One tip: ignore the term “VIP” and find a brand you love. Ask about their “exclusive” membership schemes. Additionally, brands are now leveraging NFTs to enhance exclusivity and drive engagement. By offering unique digital assets, luxury brands can provide customers with exclusive access to limited-edition products, events, and experiences, further elevating the sense of prestige and loyalty. #LuxuryGoods #LoyaltySchemes #CustomerLoyalty #LuxuryMarket #FashionIndustry #RetailTrends #ExclusiveMembership #CustomerEngagement #LuxuryBrands #UKMarket #NFTs #DigitalAssets

Discovering the Profitability of Luxury Retail Online The retail landscape is evolving rapidly, but one niche consistently stands out for its profitability: luxury goods. Here's why: Higher profit margins: Luxury brands command 30-50% higher profit margins compared to mainstream products. Loyal customer base: The luxury market isn't just about high price tags. It's about high trust.  Growing demand: Global luxury spending is expected to reach $1.2 trillion by 2025, driven by increasing affluence in emerging markets. Key factors for success in the luxury e-commerce market: Authenticity: Maintain the brand's heritage and exclusivity online. High-quality visuals: Showcase products with professional photography and detailed descriptions. Personalized service: Offer concierge services, tailored recommendations, and exclusive offers to VIP customers. Example: A luxury watch brand that offers complimentary engraving and personalized gift wrapping has seen a 20% increase in customer satisfaction and 15% higher conversion rates. Do you agree that luxury e-commerce is the most profitable niche? What strategies are you implementing to attract and retain high-value customers? #ecommercetrends #luxurybrands #retail #profitability #digitalmarketing

NEW - Download our in-depth report looking at the luxury good market which in 2023 was worth $354.81bn globally. Inside the Global Luxury Report 2024 we examine the market in detail, looking at regional breakdown of sales, consumer behaviour, the channels and devices used to make purchases, sustainability, predictions of consumer change and 22 in-depth company case studies. #luxuryretail #retailing #luxury #dtcbrands #ecommerce https://lnkd.in/eESszMci

As luxury players look to survive an industry-wide slowdown, they face an added layer of local competition from businesses that won over Chinese shoppers during pandemic-era lockdowns. What once were niche marketing moments have become crucial opportunities to activate in the region. As evidenced by current Lunar New Year campaigns, expressions are increasingly prioritizing authenticity, versus surface shows of support, in an attempt to capture the attention of core consumers this season. Read the full article: https://bit.ly/3vIpCtG #LuxuryDaily #LuxuryNews #MarketingNews #LuxuryGoods #RetailNews #RetailTrends #MarketingTrends #LunarNewYear #ChineseShoppers #LuxuryTrends #LuxuryMarketing

NEW - Download our in-depth report looking at the luxury good market which in 2023 was worth $354.81bn globally. Inside the Global Luxury Report 2024 we examine the market in detail, looking at regional breakdown of sales, consumer behaviour, the channels and devices used to make purchases, sustainability, predictions of consumer change and 22 in-depth company case studies. #luxuryretail #retailing #luxury #dtcbrands #ecommerce https://lnkd.in/e-kGDJ7c

NEW - Download our in-depth report looking at the luxury good market which in 2023 was worth $354.81bn globally. Inside the Global Luxury Report 2024 we examine the market in detail, looking at regional breakdown of sales, consumer behaviour, the channels and devices used to make purchases, sustainability, predictions of consumer change and 22 in-depth company case studies. #luxuryretail #retailing #luxury #dtcbrands #ecommerce https://lnkd.in/e-kGDJ7c