Recently, Google partnered with Ipsos to reveal how affluent consumers research and shop for high-end fashion, accessories and jewellery.
Unsurprisingly, they found that people shopping for luxury goods are among the most digitally savvy, they use the Internet more than any other avenue for research, they use multiple devices and they still want to experience products and finalise purchases in store.
My six key takeaways from the research:
- Even though 82% of luxury purchases occur instore, 78% of shoppers research online before they buy.
- Affluent buyers are more likely to use multiple connected devices (PC, tablet, smartphone) than the general population and in emerging markets they own twice as many devices.
- Convenience and access to good deals are the key motivations for purchasing online, whilst the main barrier to purchasing online is the desire to experience the product first hand.
- Luxury shoppers multi-task by interacting with digital devices whilst consuming offline media (TV and magazines). This is more likely in emerging markets with over 80% multi-screening whilst watching TV.
- There is a preference for immersive advertising formats such as video and 3D imaging to effectively bring luxury items to life online.
- This research highlights some key opportunities for luxury omnichannel retailers, particularly with respect to linking offline and online marketing efforts, adopting a digital marketing attribution strategy and offering a good online experience regardless of the device.