L2 is releasing the Japan & Korea luxury study this month, assessing the digital performance of 70 brands in Japan and 68 brands in Korea. A preview of what is about to come:
– South Korea is emerging as a luxury-friendly market. A survey shows that just 22% of South Koreans feel that showing off luxury goods is in bad taste vs. 45% of the Japanese and 27% of Americans. And a high percentage of those luxury sales are taking place online, more so than in the U.S. or China:
– Japanese customers expect to choose their delivery window up to the hour, a service offered by 73% of luxury brands that offer direct-to-consumer e-commerce. Just one luxury brand in Korea (MCM) offers same-day shipping, even though it is common in categories such as Beauty.
– Local pop culture has a powerful influence in Korea. The L2 study found a spike in Cartier, Hermès and Yves Saint Laurent searches on Naver since the airing of the popular TV show ‘My Love From the Star’. Many items featured in the series sold out in a short time period.
For more, look for L2’s Digital IQ Index: Japan & Korea Luxury.