If you are looking to buy luxurious and high-quality clothing in a very quick and practical way, Luxury Fashion Online Purchase is the answer.
This is a way to use your computer or another digital device to get new luxury pieces without leaving the comfort of your own house. In fact, the practice of buying luxury items from home has been increasing every year.
The Online Purchase Behavior
The comfort of buying from your own home is one of the mediators of online purchase. Even being in the luxury market, the practice can be economically favorable for consumers. Prices in online stores can be cheaper than in physical stores.
Another point that makes online buying behavior grow is the speed of deliveries and exchange policies. Effective email communication regarding customer questions and needs amplifies this behavior’s positive points.
Therefore, online shopping platforms improve every year, as consumption is also being more chosen by consumers.
Marketplaces & Luxury Fashion Online Purchase
According to Bain & Company, one-third of all personal luxury purchases will take place digitally by 2025, and revenues can reach an estimated $136 billion.
With that, it is worth saying that digital marketplaces proved valuable for customers looking for new means of product discovery and delivery.
Companies like Farfech are seeing an uptick in growth. Also, marketplaces like Net-A-Port provide strategic ways to approach sustainability and innovation culture.
NET-A-PORTER is much more than an online fashion retailer. It is a community or, as some say, a counselor and personal shopper. That’s because the curation done by the platform is sharp and we can only find luxury pieces on it.
The company boasts of bringing together the best designers and brands. All of it combined with a sharp editorial and a sensitivity to the latest news in luxury fashion.
In other words, it’s a kind of consultant and personal buyer within reach of a click.
Let’s get to know a little bit about one of the biggest online retail shopping in the world and its scaling journey. Shall we?
How It Started: Historical Background
NET‑A‑PORTER launched in June 2000. Since then, it has delivered fashion with more than 800 of the world’s most coveted designer brands.
It includes Gucci, Chloe, Balenciaga, Saint Laurent, Isabel Marant, Prada, and Stella McCartney.
As well said on the NET‑A‑PORTER website, the marketplace is the pioneer of innovation. The online fashion retailer speaks to a monthly audience of over 6 million and provides a seamless shopping experience across mobile, tablet, and desktop.
The Female Minds Behind Net-a-Porter
Behind every brand, there is a genius mind. In this case, the female mind behind the company starts with Natalie Massenet, the founder.
She was born in Los Angeles and started her career in fashion as a journalist, but always had the entrepreneurial mind to open her own business. From 2013 to 2017, she was the chairman of the British Fashion Council.
Natalie Massenet left the company in 2015, and now she serves as non-executive co-chairman at Farfetch. She works closely alongside its founder and chief executive, José Neves.
Another genius of Net-a-Porter is the Global Vice President of Purchasing Sarah Rutsonof, which is also one of the most influential persons in the industry. Sarah has ten years as fashion director at Hong Kong multi-brand Lane Crowfor as a background.
She said to Harper’s Bazaar: “Today, I need to ensure that the entire Net-a-Porter purchasing team, in all departments and regions, has a clear vision of what and how to move the business and fashion itself. Like the stories we must tell, the main trends of the season, in addition to ensuring our focus on editing.”
Net-a-Porter & Sustainability
A 2013 study from MIT suggests that online shopping is far more eco-friendly than shopping in brick-and-mortar stores. With that, Net-A-Porter sees innovation and sustainability as two important features.
In line with YOOX NET-A-PORTER GROUP’s 2030 sustainability strategy, Net-A-Porter has a curated platform that offers you the opportunity to invest in sustainable luxury.
The Net Sustain offers customers a way to easily identify fashion and brands that meet NET-A-PORTER’s criteria for sustainability.
Overall, every brand that is featured in the Net Sustain platform is carefully positioned in a dedicated section of the website so the customer can be aware and well align the sustainability goals.
Farfetch has a mission to be the global platform for luxury fashion, connecting creators, curators and consumers.
In short, when you purchase something from the Farfetch website, you’re actually buying from one of their partners. Therefore, the items you buy get shipped to you directly from the company’s stores as a partner.
How It Started: Historical Background
During Paris Fashion Week in October 2007, José Neves, the founder, shot off an e-mail to Cipriano Sousa, now Farfetch’s chief technology officer, saying he had an idea: to build an e-commerce platform.
Farfetch was founded in 2007 and launched in 2008. The company began as an e-commerce marketplace for luxury boutiques around the world. It connects shoppers with more than 980 stores.
One of the Biggests in the World
The company has been serving more than 190 countries and territories. If we look before the pandemic, Farfetch had a full-year 2019 revenue growth of 69% that topped $1 billion in sales. I also gross merchandise value that advanced 52% year-over-year to reach over $2 billion.
Not only that, but the average company order in the first quarter of 2021 totaled a remarkable $618, with digital platform GMV growth up 60% year-over-year.
According to José Neves: “We believe this digitization of physical retail was a distant innovation for many luxury brands and retailers that may now be promoted from nice-to-have to must-have status. This is a vision we have believed in for many years and one that we are uniquely positioned to develop for the global luxury industry.”
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