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Luxury brand internet opportunity
Starting entrepreneurs looking to set up a social e-commerce network, may want to look towards the luxury brands segment. This a conclusion thenextwomen comes to based upon a report by Victoria Bracewell Lewis of Forrester.
Why? First of all, luxury goods seems to defy the gloom of the credit crunch. Hermès for instance, today announced soaring sales of its handbags, silk and perfums. Secondly, despite luxury brands being at the foreground of fashion, they are not yet very active on the internet in interacting with their customers. Thirdly, consumers are increasingly willing to purchase luxury goods in a web 2.0 environment.
Victoria Bracewell Lewis of Forrester recently reported that only one-third of the luxury brands are active on the internet in social computing. According to the survey, the remaining two-third of the companies are open to engaging in social networking and fora, offering user-generated review section on their Web sites, or creating blogs. Forrester predicts that both the marketing budget on as well the part reserved for social computing, will increase over the next five years.
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[...] is a remarkable move because there is a lack of presence of luxury brands online. Many brands are concerned that an online presence will cheapen their [...]