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Marketplaces thank COVID-19 for boosting sales of luxury products

Marketplaces thank COVID-19 for boosting sales of luxury products

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Containment measures and the physical closure of stores have demonstrated the strength of the marketplace model in the luxury industry. By offering five-star virtual showcases at a time when the luxury market is at a standstill, e-commerce platforms have indeed seen their sales climb since the beginning of the health crisis. This was the case for the British e-commerce giant in fashion and luxury goods, Farfetch, but also for Luxury Soho, Alibaba’s online outlet for luxury brands. The marketplace, the opportunity to capitalize on in the post-coronavirus era?

 

In the first quarter of 2020, while retail sales of luxury goods were being depleted by the global closures related to COVID-19, the Farfetch and Alibaba online sales platforms experienced a resurgence of activity, (very) satisfactory quarterly sales and smaller-than-expected losses.

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Featured photo : © Farfetch

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