As the world is becoming increasingly digital, and digital natives\u2014millennials and gen Z\u2014have more spending power<\/a>, luxury brands must adapt to ensure eCommerce success. <\/p>\n\n\n\n Let\u2019s look at the five golden rules for luxury eCommerce websites and how you can apply them in your business.<\/p>\n\n\n\n Scarcity refers to a limited amount of stock. Scarcity helps create a sense of urgency and exclusivity around your brand\u2014so much so that Ferrari cut the production of cars by 4% in 2013<\/a> just to increase exclusivity.<\/p>\n\n\n\n There are many ways an e-commerce brand can communicate exclusivity:<\/p>\n\n\n\n Exclusivity and scarcity are key characteristics of luxury brands and products. Take luxury fashion brand Herm\u00e8s and their Birkin bags, for example. The Birkin is one of the most coveted handbags in the world, with special editions of the bag being sold for millions of dollars. <\/p>\n\n\n\n Brand new Birkins typically cost around $20,000\u2014that\u2019s a lot<\/em> for a handbag. How does Herm\u00e8s sell them for such a high price? <\/em><\/p>\n\n\n\n There are only about 200,000 of them in existence<\/strong>\u2014they\u2019re scarce, and owning one is an exclusive experience.<\/p>\n\n\n\n They\u2019re so<\/em> exclusive that you can\u2019t just buy one\u2014interested buyers need to join a waitlist to purchase one. That\u2019s just the first step, however\u2014with sources stating buyers could be waiting for months, or even years, for the right style<\/a>.<\/p>\n\n\n\n The Birkin is the perfect example of a luxury brand using scarcity to increase exclusivity and revenue. It\u2019s an important lesson for luxury brands\u2014ecommerce or not. Now\u2014time to talk tech.<\/em><\/p>\n\n\n\n Technology can make or break the shopping experience. <\/p>\n\n\n\n Technology can help improve:<\/p>\n\n\n\n Plus, plenty more.<\/p>\n\n\n\n Times are changing fast, and new technologies are emerging to improve the overall customer experience and better answer customer concerns. <\/p>\n\n\n\n ViSenze\u2019s AI-powered smart recommendations<\/a> help you grow your revenue through increased conversions and engagement. They\u2019re exactly what you need to make recommendations based on what your shoppers are seeing.<\/p>\n\n\n\n Smart Recommendations<\/em> displays products that are hyper-relevant to each shopper. This means you\u2019re not just selling products; you\u2019re giving your customers a direct path to shop your complete brand look and luxury lifestyle. <\/p>\n\n\n\n You can add suggested products across key customer touchpoints such as product display pages, checkout, and collections pages. <\/p>\n\n\n\n Additionally, ViSenze has identified how fashion and luxury brands can respond to the new digital world<\/a>. Some of which are:<\/p>\n\n\n\n Technology is here to stay\u2014luxury ecommerce brands now have a wide variety of solutions to help them thrive online.<\/p>\n\n\n\n Customers who buy luxury products aren\u2019t just buying material goods. They are paying for a feeling, status, and experience that comes with the luxury product or service.<\/p>\n\n\n\n After all, someone that buys a pair of Louboutins isn\u2019t paying for a shoe to wear day-to-day. They\u2019re buying the exclusivity and recognition that comes with the brand. This means that the imagery used on your high-end ecommerce site\u2014both the one you show with pictures and the one you paint with words on your product descriptions\u2013shouldn\u2019t just be about the product. It should also be about creating an experience and brand that has a story<\/em>.<\/p>\n\n\n\n Gucci\u2019s Beloved Dionysus bag isn\u2019t just described as a great quality bag with several zippers and specific dimensions<\/em>. Instead, the product display page (PDP) highlights the bag’s origins and history.<\/p>\n\n\n\n The images used include additional props that highlight the lifestyle and luxury associated with the product. <\/p>\n\n\n\n They\u2019re not just talking about the product but also the emotion and history behind it. This helps consumers connect with the product and brand and creates an experience when buying the bag.<\/p>\n\n\n\n Another thing that you must keep in mind when working with ecommerce luxury products is that pricing and discounts don’t work like with standard goods. <\/p>\n\n\n\n Luxury goods require price tags\u2014that\u2019s half the appeal for many buyers. Luxury goods are those for which demand increases as income increases. Put simply; luxury goods are expensive.<\/p>\n\n\n\n Luxury ecommerce brands are selling exclusivity, elegance, and quality.<\/strong> These three things don\u2019t come cheap, and setting too low of a price point can be off-putting for those looking to splurge on high-quality goods. <\/p>\n\n\n\n This not only applies to the price of your products but also to how you offer additional consumer benefits. With normal goods, you\u2019d look to provide offers relating to a reduced price. This isn\u2019t how you want to approach luxury goods. <\/p>\n\n\n\n When working with luxury products or services, you want to minimize price-based discounts and offer value-based discounts. This means, instead of offering a discount on the price, offer value-based promotions like:<\/p>\n\n\n\n However, offering discounts for special occasions can be a great opportunity for non-usual customers to purchase without harming the exclusivity of your product or service.<\/p>\n\n\n\n Considering that luxury services and apparel ecommerce sell more than just a product or service\u2013you need to make the whole experience luxurious. <\/p>\n\n\n\n Someone buying a Gucci product online will want to see the same level of elegance, luxury, and attention to detail that they feel in-store. <\/p>\n\n\n\n You want the overall feel of the site to be elegant and inviting, and you want it to replicate the in-store experience. Branding and design are key to creating that high-quality feeling\u2014in our communications.<\/p>\n\n\n\n It\u2019s not just how the site looks<\/em> but also how it works\u2014<\/em>how easy it is to navigate. A premium or luxury ecommerce brand shopper doesn\u2019t want to be looking for something and is unable to find it. <\/p>\n\n\n\n By using ViSenze smart tagging<\/a>, you\u2019ll have AI automatically tag your products to simplify and optimize product discovery.<\/p>\n\n\n\n <\/p>\n\n\n Additionally, ViSenze\u2019s smart search<\/a> solution helps improve the online search experience and enables luxury ecommerce brands to embrace visual search.<\/p>\n\n\n Personalization is also important on your luxury ecommerce site\u2014users want to be shown recommendations they\u2019ll love. ViSenze\u2019s smart recommendations<\/a> use behavioral data to show shoppers relevant products to complete the look, add accessories, and find alternatives. Consider it your online shopping assistant\u2014helping consumers find what they\u2019re looking for and more. It\u2019s all about the overall user experience\u2014luxury brands need a premium online experience. Combining eye-catching design with powerful technology helps ecommerce brands deliver the highest quality experience possible.<\/p>\n\n\n\n Your customers aren\u2019t just buying a handbag, a belt, or some loafers\u2014they\u2019re buying an experience.<\/p>\n\n\n\n More and more shopping experiences are online, and ensuring your online shopping experience matches your in-store shopping experience is essential. <\/p>\n\n\n\n Understanding the foundations of marketing luxury goods, as well as being aware of the new technology available to ecommerce brands, helps make sure your brand stands out for quality and splendor. Try ViSenze today<\/a> to experience how ecommerce brands can take control of their shoppers\u2019 online experience.<\/p>\n\n\n\nScarcity and exclusivity will help you sell more<\/h2>\n\n\n\n
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Leverage the best tech<\/h2>\n\n\n\n
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Imagery should communicate emotion<\/h2>\n\n\n\n
Luxury prices don\u2019t work like mass-market prices<\/h2>\n\n\n\n
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Focus on the overall luxury ecommerce experience<\/h2>\n\n\n\n
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<\/figure>\n<\/div>\n\n\nLuxury ecommerce looking forward<\/h2>\n\n\n\n
Luxury Ecommerce: FAQs<\/h2>\n\n\n\n