Consumer shopping (online or in-store) at luxury UK fashion retailers January 2021

A recent survey examining the current shopping behavior of British fashion shoppers in luxury fashion retail stores reveals that those in younger age groups have the highest rates of purchasing. Whether it is online or in-store, both those aged 16-24 and 25-34 came to about 17 percent. Of all age groups, who have purchased either online or in-store at premium fashion retailers, such as Selfridges, Harvey Nichols, and Net-A-Porter, consumers in the 65 + age group had the lowest rates of purchasing at two percent.

A multi-billion-dollar market 

  Luxury goods, which is an umbrella term for high-end items on a wide array of items ranging from clothing and accessories to cars and spirits, form a market valued at over 200 billion euros globally. Therefore, it does not come as a surprise that the top three most valuable luxury goods brands were worth over 15 billion U.S. dollars each in 2020, despite the fact that the COVID-19 pandemic took its toll on the overall value of the global market. In recent years, this multi-billion-dollar industry began to spawn its secondary market in the form of second-hand luxury goods, which in itself saw a positive trend in market value.
 

 Online or offline?

  The rising tide of online shopping induced by the coronavirus (COVID-19) pandemic took over luxury shoppers as well. Recent results both from the United States and Europe indicate that more and more luxury goods consumers prefer online channels for their luxury shopping.