When considering buying luxury items, the well-off have a variety of options available. They can order high-end merchandise like furniture, jewelry, expensive clothing and other items from catalogs, over the phone or enter a brick-and-mortar location, among other processes.
However, if a recent KPMG survey is any indication, these retailers might want to ensure they provide customers with online credit card processing options. The report took into account the preferences of Chinese luxury shoppers, so American retailers may also want to make this move before it’s requested here, as the economy is well on its way to pre-recession strength, so they can establish themselves as thought leaders and innovators.
Shanghai Daily, citing the report, revealed that 70 percent of middle class consumers sought luxury items on the internet once a month, and 40 percent completed a purchase. This represents an 18 percent increase from 2011.
Seventy-six percent of those surveyed indicated that they enjoy shopping online because of the ability to comparison shop easily, while 63 percent noted that they are able to save a lot of effort, as compared with going into a storefront location.
Retailers may also consider promoting their ecommerce gateways by providing easy return policies, special deals and more readily available inventory.Back To Blog