LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors for the global luxury e-tailing market in their latest research report. This report also lists 10 other prominent vendors who are expected to contribute to this market’s growth over the forecast period.
To identify the top vendors, Technavio’s market research analysts have considered the top contributors to the overall revenue of this market. To calculate the market size, our researchers have considered the revenue generated from the sale of personal luxury goods, luxury food and wine, and luxury home accessories.
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“Accessories is the largest segment leading by volume in the global e-tailing market. When it comes to online buying, people prefer a multi-brand environment, and it is expected to emerge as a key trend anticipated to drive many more customers to online shopping of luxury products. Technavio researchers estimate the global luxury personal goods e-tailing market to reach over USD 32 billion by 2019,” said Vijay Sarathi, one of Technavio’s lead analysts for retail goods and services research.
“Vendors are offering many convenient services that are improving customer satisfaction, a driving factor in the global luxury e-tailing market. For instance, Nordstrom has made significant investments in customer service, which includes services like 'order by 10 am, get it before 5 pm’ in London and Manhattan, and next-day delivery to over 25 countries including the US, the UK, and Australia. Similarly, over the next four years, many vendors are likely to increase their efforts by offering discounts and easy return policies on luxury goods,” added Vijay.
Five leading vendors in the global luxury e-tailing market:
Neiman Marcus was established in 1907 and is headquartered in Dallas, Texas, US. The company offers apparels and accessories on the needs of the luxury market. It includes women's and men's accessories.
Their online sales of fashion apparel include, shoes, accessories, and home furnishings by the Neiman Marcus and Bergdorf Goodman brands. It also includes online sales of home furnishings and accessories under the Horchow brand. On July 22, 2015, the company signed an agreement with RealReal (an e-commerce company). This partnership agreement enables the company to provide gift cards for payment of luxury goods so that they receive an additional 10% on the total pay-out of its customers.
Net-A-Porter was established in 2000 and is headquartered in Wan Chai, China. The company engages in the online retail of luxury fashion for women. They offer clothing products such as beachwear, bridal, coats, jumpsuits, knitwear, denims, dresses, pants, shorts, skirts, sweatshirts, tops, gowns, jackets, jeans, leather jackets, lingerie, sportswear, suits, and bags and shoes.
On August 29, 2015, they made their luxury app named Net Set public. It is a new social shopping app that combines e-commerce with social features. The app is created by an in-house team of 15 members. The app enables users to shop, comment on styles, and recommend fashion ideas, and this in turn helps the company to increase its customer base.
On August 7, 2015, the company signed for Instagram's new ads API that make its brands put ads on this platform. This feature enabled Instagram users to access display buttons under their ads such as Shop Now, Install Now, and Sign Up.
Nordstrom was founded in 1901 and is headquartered in Seattle, Washington, US. It is a fashion specialty retailer in the US. As of March 2015, the company operated 290 US stores and two Canada stores. They also operate e-commerce business through Nordstrom.com, Nordstromrack.com, HauteLook, and TrunkClub.com.
The company’s retail operations include 167 off-price Nordstrom Rack stores, 115 Nordstrom-branded full-line stores in the US and Nordstrom.com, two Canada full-line stores, Nordstromrack.com and HauteLook, and retail channels like five Trunk Club showrooms and TrunkClub.com, two Jeffrey boutiques, and one clearance store (Last Chance). Nirdstrom also provide a range of high-quality brand-names and private label merchandise, including shoes, apparel, cosmetics, and accessories.
The company also has 156 trademarks including Nordstrom, HauteLook, Nordstrom Rack, Zella, Halogen, BP, Caslon, and Trunk Club.
Ralph Lauren was founded in 1967 and is headquartered in New York, US. The company together with its subsidiaries designs, markets, and distributes apparel, accessories, fragrances, and home furnishings to customers worldwide through an extensive distribution and retail channel network.
The company operates in three business segments:
Retail: They offer apparel, accessories, and home furnishings through their retail stores, concessions-based shop-within-shops, and e-commerce sites
Wholesale: They offer the company's products to major departmental stores, specialty stores, and retail franchises worldwide
Licensing: the company generates revenues through royalties from its domestic and international licensing alliances
Saks Fifth Avenue
Saks Fifth Avenue was founded in 1924 and is headquartered in New York, US. The company provides the retail sale of apparel, extraordinary handbags, jewelry, shoes, cosmetics, and gifts. It operates as a subsidiary of Hudson's Bay Company.
April 02, 2015: The parent company, Hudson's Bay Company, announced the expansion plan for Saks Fifth Avenue by opening its luxury departments. The company is also opening two stores in Canada. It can also open and operate seven stores in North America.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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