You may have seen research from the Luxury Society & Digital Luxury Group as they present the World Luxury Index, providing the first digital analysis of the luxury handbag market. The research looks at the handbag market, revealing a ranking and analysis of the most searched-for handbag brands around the world within the luxury industry.
The research covers over 130 brands, through 130 million+ searches, in eight countries and shows how digital is impacting on luxury handbag retailers as well as the appetite for handbag brands amongst consumers.
Key findings include:
- The UK shows the most desire for luxury handbags and leads the way with search with 422 searches per 1,000 internet users
- For Britain, Mulberry is the most searched for bag brand of choice, with almost twice the number of searches than 2nd brand Chanel
- Demand for brands differs around the world; Japan is the only country where Louis Vuitton handbags do not rank in the top 5
Mark Haviland is the MD of Rakuten LinkShare UK, the world’s largest affiliate network, which works with several luxury brands.
Haviland comments:
“The news that Britain’s desire for upmarket handbags has outstripped that of every other nation, according to the World Luxury Index, is great news for our retail sector. The research from Luxury Society & Digital Luxury Group highlights that when comparing high end and luxury handbag brands, 422 searches per 1,000 internet users in the UK was for luxury brands. As Luxury Society rightly identifies, ‘handbags have become one of the most coveted items in the luxury goods market’.
Beating off other countries so convincingly in online searches shows that the UK market is ripe for luxury brands to focus on their online offering; Brits love to indulge in a bit of window shopping online! Shoppers look to their smartphones, tablets and laptops, and many of these will be browsing for pleasure, not necessarily to make a purchase there and then.
The research phase of browsing and shopping has become key and the internet is often the first point of call as shoppers compare products, colours and prices both on and offline. Retailers will want some of these online browsers to convert to a sale, and to ensure your brand profits, you have to ensure your brand is everywhere. All online channels are important in this journey to making a decision to purchase; in store, on style blogs and websites as well as working with trusted publishers to build an unmissable presence.
It is brilliant that organisations like the Digital Luxury Group and Luxury Society and their research are proving how important it is for brands to have a presence online. These studies are crucial if our industry is to continue to support the growth of this sector, and it’s great to see such investment continue as luxury shoppers increasingly look to online.”
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