Learn how to market with the modern consumer’s wants and needs in mind at Commerceweek, July 11–12, with brand leaders from Visa, Uber, TikTok and more. Sign up now to save 35%.
Prior to the pandemic, shopping for luxury goods was predominantly an in-store affair.
Now, however, it’s clear consumers’ appetite for ecommerce includes not just groceries and household staples, but luxury items as well. In 2019, these luxury items represented a $100-billion market in the U.S. alone.
Holding company HBC, which acquired luxury retailer Saks Fifth Avenue in 2013, announced an agreement last week with private equity firm Insight Partners to spin off Saks’ ecommerce business as a standalone entity.