LUXURY BRANDS EMBRACING THE OMNICHANNEL ROUTE TO SUCCESS!
Consultants Review|February 2020
Fynd is a unique fashion e-Commerce portal that brings the latest in-store fashion online. At Fynd, Harsh brings his valuable experience in technology and entrepreneurship to the table and oversees the supply side of operations, including managing partnering brands and stores.
Harsh Shah

It has been a while since online retail took the world by storm. While it is engulfing the market with a plethora of products in different segments, Luxury brands took eons to warm up to it. Due to the fear of losing their exclusivity, several luxury brands were reluctant to sell their products online. Also, the personal touch with which luxury brands deal with their clients along and the hefty price tags acted as a detriment for people to purchase goods online. Most high-end brands were under the belief that entering the e-commerce world would result in cutting down on their margins and giving away the product sat heavy discounts.

The customers, too, don’t cut a different picture. An apprehensive lot, they disliked the idea of spending a lump sum on an e-commerce site to purchase a Burberry handbag or a Hermes scarf without first experiencing the item in a brick-and-mortar store or talking to the salesperson face-to-face. These items, after all, cost a bomb, and it was not worth to go through the hassles of a cancelled order or a damaged delivery, especially in these cases.

However, a gradual shift was witnessed in the attitudes and purchasing behaviour of consumers, specifically the millennial generation. Being highly tech-savvy, with an awareness of global fashion, equipped with high disposable incomes, they could afford to go the online way even when it came to high-end goods. Millennials showed an inclination to experiment with the online platform and luxury products, which often leads to the luxury brands hoping onto the e-commerce bandwagon and accommodating the demands of a younger, highly diverse and tech-loving clientele.

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