The purchase of luxury goods is generally accomplished on-site and in person, as many people enjoy the “see and be seen” element of society. However, in recent years high-end products have made their way online, allowing buyers to shop for luxury items at their leisure. To gain insight into this trend and why it’s occurring now, an expert from Stroock & Stroock & Lavan LLP’s New York partner was asked about what drives the luxury retail sector – especially during this inflation era.
Trevor Adler replied that he believes many people who were couped up in their homes during the pandemic without access to these goods created a pent-up surge of demand once they began going out again. He noted that fashion and accessories are among some of the most sought after items within this market segment due to reemergence from pandemic seclusion reinvigorating sales here.
When questioned why luxury goods made such a move towards ecommerce Trevor Adler stated that with online sales soaring retailers saw an opportunity to enter or expand offerings within this area which brought with it marketing strategies along with competitive pricing leading higher sales for those involved here too; however unlike everyday homegoods expensive nature meant shoppers were reluctant due not being able preview before purchasing but retailers innovated by offering easy return policies like Amazon Prime Try Before You Buy creating trial period before finalizing purchase decisions instead .
Finally when asked if there was potential for continuation Trevor Adler said yes as room exists both brick&mortar stores plus online outlets depending on individual preferences; interestingly enough how some facilitate merchandise trial&return procedures brings them closer opening physical locations while others beefing up digital presence compete against each other too .
