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Unlok - The Luxury E-Commerce

Luxury is attention to detail, originality, exclusivity and above all quality- Angelo Bonati
‘Luxury’- the very word sets us up on a Gondola ride of aspirations. Each syllable sounds like a crystal, clear, bubbly wine, leaving the vicinity of its crafted bottle and pouring into the champagne flute. Till recently, luxury shopping was synonymous to dressing up, going to a high-end boutique shop, socializing, while the attendant customizes your products and drinks. The elite shopping scenario received a complete make-over by the strong emergence of e-commerce. It disrupted the way people shop, including luxury shoppers. A recent study reveals, that luxury’s share of online sales will double from 6 to 12 percent by 2020. The Indian luxury market is equally fascinating, it is expected to cross the mark of whopping $ 18.3 billion by the end of 2016 with over 100 million luxury transactions through internet by 2020.
We at UNLOK, are giving luxury shopping an entire new avenue. With exclusive, luxury brands like Marshall Speaker, B&O headphone, 24k gold plated Iphone6 and rare paintings created by celebrated artists like MF Husain, SH Raza and many more, that are rarely available even in the most premium online or offline outlets, can easily be spotted on our website. Within the value-core of UNLOK, lies an undeterred passion to provide unparalleled service and splendid products to our niche customers, who have an eye for finesse and perfection. To understand the ‘Luxury-Lovers’ better, UNLOK took the statistic routes, a thorough analysis of purchasing power and purchasing pattern of the elite reveals:

The actual sale of luxury products online is only 6% of the total market but an additional 40% sale happens by the consumer’s experience of that brand’s digital assets.

Brands are adapting to the renaissance of disruptive thinking. The age of beautiful, welcoming and exorbitant ‘offline only’ stores has gone with the wind! The e-commerce flood has made brands realise the value of a well-designed, inviting and value-adding digital property. UNLOK’s analysis showcase that 100% of the consumers use at least one digital channel to research about the brand or the product. So to have a flawless, easy to use and device optimized website is a no-brainer. A cue can be taken from UNLOK’s fluid, well- structured website and dynamic Facebook page that builds a connect with its audience by regularly sharing all the upcoming products, luxury market updates and similar consumer centric content.

No we are not kidding, it’s hard to imagine the uber-rich with cash flowing out from every pocket would care for price slash or sales. But it’s true, like regular Joes, the super-rich do look out for the best deals and value for money. Interestingly, this pattern is observed at an exponential rate in the privacy and comfort of mobile phones. 

Apart from looking for the best deals, the acquaintance and trust on the website is a pivotal point in cracking an online sale. There is always a thread of scepticism in big- ticket purchases from relatively new or ‘un-heard of’ websites. The takeaway here is that the e-commerce players must ensure a 
 well thought of marketing and promotion strategy amongst their TG to enhance their visibility and brand recall quotient for better sales.

The biggest myth bubble in the luxury market is that the rich and connoisseurs dwell in Metro cities. This bubble needs to burst, as with the increase in earning and spending capacity it’s very difficult to judge the geographic location of the existing or potential buyers. The case becomes more sensitive with the mobile and accessible nature of e-commerce websites, it’s crucial to make sure that the luxury buyers residing in the tier-2 and tier-3 cities receive equally lucrative treatment in terms of convenience and customization as their tier-1 counterparts.

It might sound like an oxymoron to be ‘Digitally Human’. The point emphasized here is that luxury shopping, ever since, has been all about experience and not just the product or price. While ecommerce certainly provides variety, great deals, privacy, convenience and a lot more but the ‘secret sauce’ to become the most preferred luxury marketplace is the human touch. So a pleasant phone call for order confirmation and customization inquiries, a prompt and well-thought response to a query or a thank-you bouquet delivered with the product will take your website a long way yielding exceptional top of mind awareness.

A universal truth, if a cord is struck on time it creates marvellous music. Unlok’s analysis recorded highest number of activities on luxury shopping portals between 10:00 AM to 3:00 PM, so why not optimize this bandwidth. Launch of new products, banner ads, and special offers should be done in this time-frame for maximum reach. While this a broad spectrum of time span, each website should analyse its peak activity hours and must plan their steps accordingly.

Selling luxury goods and services through digital is an entirely different ball-game.  Given to its dynamic and robust environment, a well- thought and cumulative action plan can work wonders for your brand. But all said and done, digital battle is won only if you are able to establish a bond with your consumers, and turn them to your patrons.  So go ahead, and carve your own little niche, the one that sets you class apart, just like UNLOK does, with its clear and lucrative messaging, well- planned social media campaigns and strategic tie-ups that gives the brand a 360 degree growth thrust both, online and offline.

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Unlok - The Luxury E-Commerce Unlok - The Luxury E-Commerce Reviewed by Unlok Contact on 05:01 Rating: 5

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