Fashion Bloggers Are Driving Sales In The Luxury Goods Market
The fashion blogger is the new weapon of the luxury goods industry. Luxury apparel, fine jewelry and high-end cars are benefitting enormously from the rise of the fashion blogger. According to a recent report, fashion bloggers are expected to push sales in these three luxury goods sectors. By 2015, says the “Digital Luxury Experience” report by Italian luxury foundation Altagamma, the three areas will together account for sales of over 11 billion euros ($15 billion). This sort of a boom has already taken place in the more Internet-forward areas like mobile phones and computers. The fashion industry has been a relative late bloomer in this aspect. Better late than never. As luxury brands like Burberry, Tiffany & Co. and Gucci embrace the online medium, bigger growth seems to be in the offing. As of now, online sales in the luxury goods sector accounts for a tiny proportion (2.6 percent) of the overall sales of 172 billion euros. But in the coming years, these numbers should change ...