‘E-Concessions’ – Luxury Goes Digital
For years, the luxury industry has kept tight control over its distribution channels in a bid to keep the value of their goods high so as not to dilute their brands. But now, to appeal to younger consumers and to potential customers outside of city centers, luxury companies are expanding their distribution channels by striking deals with online multi-brand platforms to make it easier and faster to purchase luxury goods. Louise Singlehurst of Goldman Sachs Research explains how this digital “e-concessions” model is likely add tens of millions of dollars in luxury industry revenue over the next few years without an adverse effect on its brick-and-mortar sales.
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