The Future of Shopping with Vogue Business
Inside the rise and fall of e-commerce disruptors
Apr 10, 2024
Explore the rise and fall of e-commerce disruptors in the luxury fashion market like Farfetch, Matches, and Net-a-Porter. Learn about the challenges of rising costs, addiction to discounting, and the implications for the industry. Discover insights on the future of shopping and the importance of personalization in enhancing the customer experience.
25:11
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Quick takeaways
- Luxury e-commerce giants faced challenges due to rising costs and discounting, evolving consumer preferences towards online shopping.
- Successful online retailers prioritize customer experience, curated selections, and trust-based relationships for long-term growth.
Deep dives
Challenges in Luxury E-commerce
The episode examines the challenges faced by luxury fashion e-commerce giants such as Farfetch and Net-A-Porter, attributing their struggles to rising costs, an overreliance on discounting, and lack of control in the online marketplace. The shift to online shopping posed challenges for brands that were accustomed to controlled distribution strategies and strict pricing models, leading to increased competition, escalating marketing costs, and a focus on growth overshadowing profitability.
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