Luxury shoppers will now have to visit a bunch of individual sites to get their prestige-ware. eLuxury.com will shut down their luxury commerce site and focus on an online magazine targeting luxury goods. eLuxury says it’s not for lack of financial success, rather too many of the brands they represent have launched their own commerce sites.
“Starting in mid 2009, eLuxury’s new mission will be to create an ‘e-window’ into the world of luxury, by serving as an information reference for luxury in fashion, art de vivre, leather goods, wines and spirits, watches and jewelry, gastronomy, cars, yachts and services,” the spokeswoman said. “To that end, eLuxury intends to develop collaborations with the most prestigious names in the world of luxury media, as well as the main contributors of the luxury world.”
Why This Trend Is Growing
- Luxury Commerce to Content
- More luxury brands are expected to shift from commerce to content as they prioritize information reference for their customers.
- Branding in the Digital Age
- Brands will have to establish their relevance and authority in the digital age through informative and value-adding content.
- Direct-to-consumer Commerce
- Brands are expected to establish their own commerce sites to establish better direct-to-consumer relationships.
Industries Being Reshaped
- Luxury Goods
- Luxury goods providers should consider shifting focus to content to provide value to their customers; those that do not run the risk of lost market share.
- Digital Media
- Digital media outlets should expect more collaborations with luxury brands and retailers transitioning to a content-focused business model.
- E-commerce
- E-commerce retailers will need to re-evaluate their role in the industry as more brands establish their own commerce sites, eliminating the need for multi-brand online retail platforms.
