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Most online shoppers won’t cut down on luxury goods

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Online shoppers are unwilling to reduce their spend on premium goods, with a survey released today showing that 61 per cent will spend money as usual in 2012.

Online retail marketing agency Leapfrogg found that, despite the economic gloom and the average earnings of respondents being just £23,000 per annum, two thirds of the 1,000 people surveyed said they would not rein in their spending habit for luxury items for the duration of the year.

This signals much needed good news for high end retailers, though the survey also revealed the need to deliver a service that matches the quality of products on offer.

Somewhat surprisingly, only 14 per cent shop around for discount vouchers, yet 21 per cent felt being valued would lure them into splashing out on a more expensive item.

As 30 per cent of respondents claimed that better service online has encouraged them away from the physical store, Rosie Freshwater, Managing Director of Leapfrogg, warned that better service does not involve price reductions.

“Premium and high-end brands shouldn’t be tempted to undersell themselves by overusing voucher codes and heavy discounting,” she commented.

“Consumers are willing to commit to higher prices as long as the shopping experience and customer service is as premium as their purchase.”

Proving that the customer wants to feel an element of trust and appreciation with their transaction, research firm Lightspeed revealed that the multichannel retailer with a bricks and mortar presence incites more reliability from their shoppers than discount pure-play e-tailers .

Referring to the importance of the in store experience, Freshwater continues: “Considering customer needs and optimising the online shopping journey at every stage is paramount for increasing customer acquisition and sales.

“Premium brands need to know their customers inside out and consider every angle of the shopping experience from the perspective of the consumer; this should be a core aspect of retail marketing strategy for high end brands.

“Premium retailers need to make the whole consumer journey easy, from start to finish, not overlooking the importance of offline interactions such as delivery options and of course post-purchase.”

Published on Tuesday 29 May by Editorial Assistant

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