The demand for luxury goods is continuously increasing. As the population in most cities rises, the number of potential buyers increases, too. Additionally, most social classes steadily grow wealthier which is why more people can afford luxury goods. Still, luxury brands stand for exclusivity, elegance and scarcity.
But in the recent past, a conflicting development changes traditional business. The innovative approach of digitalization exerts pressure on luxury brands and still is determined as one of the most influential trends in the whole industry. The internet is accessible to everyone and represents a retail channel that sells mass products at discounted prices. Luxury industry has to find possibilities to manage the growing phenomenon of e-commerce while preserving the brand image from dilution.
But how can the luxury industry benefit from the technological innovation? Is it possible to integrate this growing and profitable mass market channel into the privacy of the exclusive luxury strategy? Anastasia Sobolev examines how the incongruences between the internet and the luxury industry can be solved. She develops an e-commerce model which offers useful solutions for luxury brands in order to expand their distribution network.
In this book:
-luxury industry;
-e-commerce;
-digitalization;
-luxury brands;
-mass media
Inhaltsverzeichnis (Table of Contents)
- Introduction
- The relevance of the topic
- Purpose of the thesis
- Definition and theoretical principles of luxury industry
- Definition of the term luxury brand
- Buying behaviour of luxury consumers
- Challenges for luxury brand management
- Theoretical Framework of E-Commerce
- Definition of E-Commerce
- Online shopper profile
- The key success factors of e-commerce
- Risks of E-commerce
- E-commerce business model
- Development of an e-commerce model for luxury industry
- Analysis of incongruity and challenges
- Systematic elaboration of incongruity
- Luxury e-commerce model application in the practice
- Online presence evaluation of Louis Vuitton
- Online presence evaluation of Chanel
- Conclusion and outlook
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This thesis investigates the development of an e-commerce model specifically tailored for the luxury industry. It aims to bridge the gap between the traditional luxury experience and the evolving online shopping landscape, analyzing the challenges and opportunities of integrating e-commerce into the sector.
- Definition and characteristics of luxury brands and their unique consumer base.
- Exploring the theoretical framework of e-commerce and its application within the luxury context.
- Identifying the key success factors and potential risks of implementing e-commerce in the luxury sector.
- Developing a comprehensive e-commerce model that addresses the specific needs and challenges of luxury brands.
- Evaluating the online presence of renowned luxury brands like Louis Vuitton and Chanel, highlighting best practices and potential areas for improvement.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter sets the stage for the thesis, highlighting the growing relevance of e-commerce in the luxury industry and outlining the purpose and scope of the research.
- Definition and Theoretical Principles of Luxury Industry: This chapter provides a comprehensive definition of luxury brands and their unique characteristics. It delves into the buying behavior of luxury consumers and the challenges that luxury brand management faces in today's market.
- Theoretical Framework of E-Commerce: This chapter examines the theoretical underpinnings of e-commerce, defining the concept, outlining the profile of the online shopper, and exploring the key success factors and potential risks associated with online businesses.
- Development of an E-commerce Model for Luxury Industry: This chapter focuses on the development of a specialized e-commerce model specifically designed for luxury brands. It addresses the unique challenges and inconsistencies of integrating e-commerce into the luxury sector.
- Luxury E-commerce Model Application in the Practice: This chapter showcases the application of the proposed e-commerce model in practice. It analyzes the online presence of renowned luxury brands like Louis Vuitton and Chanel, highlighting their strengths, weaknesses, and potential areas for improvement.
Schlüsselwörter (Keywords)
This thesis explores the intersection of luxury brands, e-commerce, and consumer behavior. Key themes include luxury brand definition, consumer buying motives, e-commerce challenges, online shopper profiles, and the development of a tailored e-commerce model for the luxury industry. The study analyzes the online presence of luxury brands like Louis Vuitton and Chanel, highlighting best practices and potential improvements.
- Quote paper
- Anastasia Sobolev (Author), 2017, The Development of an E-Commerce Model in the Luxury Industry, Munich, GRIN Verlag, https://www.grin.com/document/379494
