Rich consumers go online (slowly and steadily) to buy luxury products

More and more rich consumers are now feeling comfortable buying luxury products online, proving that the online space cannot be ignored, even by the high-end luxury brands.

A very high percentage of HNIs (High net individuals) are extremely open to the online medium and a lot more are actually buying things online for gifting purposes.

Thanks to the boom in ecommerce, the rich are now buying private jets and yachts, wedding related products, ordering a designer wear, booking helicopter travel experiences, gifting bespoke spa experiences for their loved ones.

Recently, an online portal launched top designer Anju Modi’s collection (inspired by Ranveer Singh/Deepika Padukone-starrer Bajirao Mastani) where the chic-creations were priced in the range Rs 80,000-3 lakh ($1.3k to $5k).

Although merchandise related to Bajirao Mastani is a rage after the movie’s success, online merchants have seen the sales of designer wear go up in recent times, especially during festivities and New Year celebrations.

Online also makes better business sense because designers can showcase their creations to a much larger audience, at reasonable marketing costs.

Spotting the opportunity, lot of start-ups have emerged in this space with an aim to e-gift luxury products and experiences. Niche online players are gradually expanding operations and the space is sure to get more rewarding for all.

So it seems online shopping is not just for the budget conscious; even high-end brands want to use the medium to sell more products.