A large market shift is happening in luxury ecommerce. Millennials and Zoomers alike are prioritizing value over brands, and with dupe culture being extremely popular amongst the younger demographic, luxury ecommerce needs help to stay relevant. Even big media outlets, like The New York Times, are noticing the change in its recent article, “Has the Luxury E-Commerce Bubble Burst?”
Today, Elena and Roxy Couse, Director, Customer Experience Group, sit down at Bloomreach’s Charlotte, North Carolina office to break down the nuances behind the current market trends and discuss strategies to navigate the changing tides in luxury e-commerce. They’ll examine how these preferences for value and authenticity over mere brand names are reshaping consumer behavior and what this means for luxury retailers.
TLDR;
- Shift in consumer preferences toward value over brand names
- The rise of dupe culture and its impact on luxury ecommerce
- Strategies for luxury brands to adapt and stay competitive in the changing market
