Luxury Brands Just Got One More Reason To Hate The Internet: Spoofing
As recently as 2015, prominent luxury brands such as Fendi and Louis Vuitton were only starting to test out ecommerce. They embodied a larger hesitancy in the luxury segment to embrace digital transactions. The cold feet were understandable: Luxe brands feared that selling online would mean a loss of prestige. Many were afraid shoppers would be reluctant to hit the purchase button and part with very large sums. Recent studies show that those fears were unfounded. McKinsey data predicts that digital sales of women’s luxury fashion will reach 17 percent of the total market by 2018, topping $12 billion in sales. A study from Walker Sands in 2016 found that 27 percent of shoppers purchased a luxury item online in the past year and that digital sales of luxury goods would hit $80 billion by 2025. So, the following bit of news might ruin the party for luxury brands, but a report issued last week has uncovered still another reason why luxury brands might want to watch their step in the world of online commerce—spoofing. Read more at Adweek.
