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Why fashion and luxury brands should continue to rely on e-commerce despite crisis

Why fashion and luxury brands should continue to rely on e-commerce despite crisis

The first week of containment was a bad omen for fashion and luxury e-commerce. Declining conversion rates, falling online traffic, the effect of the coronavirus is irrevocable. However, e-commerce in the retail fashion and luxury sectors is showing good growth forecasts over the medium to long term. The major houses are even beginning to restructure themselves in response to the imminent transformation of the buying habits of new generations. Explanations.

 

A devastating impact of containment on the e-commerce of fashion and luxury brands

 

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During the first week of containment in France, overall online traffic exploded by 13% according to Contentsquare, the Experience Analytics platform. However, luxury and fashion portals faced a collapse in traffic. Indeed, their traffic was halved during the period of containment: – 52.91% for the retail fashion sector and – 55.91% for the luxury sector. The jewellery and watches sector suffered from a similar fall in online traffic, of the order of – 66.79%. The total conversion rate – i.e. the proportion that a classic visitor becomes a consumer – is also falling sharply in these sectors: -59.33% for fashion, – 67.03% for luxury and -71.22% for jewellery.

 

 

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Featured photo: © Vestiaire Collective

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