With the online luxury space more competitive than ever, Fashion brand sites are offering an increasing number of customer service features. For example, 71% of brands in L2’s Digital IQ Index: Fashion feature basic FAQs, up from 39% in 2013 – underscoring the increasing importance of “low-touch” luxury.
However, substantial room remains for investment. While the number of Index brands investing in geolocation has nearly doubled since 2013, the feature remains relatively unpopular among brands, with less than half incorporating geolocation on their sites. Quick View functionality is similarly underinvested. Although adoption rose from 19% to 76%, only one in four brands lets shoppers complete the purchase through Quick Buy.
Given the increasing proportion of Fashion purchases that take place online, the lack of these features will soon be critical. Online sales drove 80% of growth in the luxury market last year, and analysts suggest that they could account for as much as 18% of the market within the next decade – meaning that brands that fail to step up their site investments will risk losing out to the competition.
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