According to the Digital Luxury Experience studies issued by Fondazione Altagamma/McKinsey, the online market of personal luxury goods is worth €14 billion (6% of the total of €224 billion) and by 2025 it is expected to reach about €70 billion, 18% of the estimated total of about €390 billion.

The study also pointed out the constantly growing importance of the digital channel in decision making for haute-de-gamme consumers and similar consumer behaviors, regardless of age and country of origin – even if tastes and purchases can differ from country to country.

The report has pointed out some significant aspects. For instance, 95% of luxury market consumers owns a smart mobile device (differently from the average consumers with 60% of the total) and 75% of them own more than one (versus an average of 33% of generic consumers).

Out of the total, 80% of luxury consumers use social media every month, 50% every week and 25% every day. 65% of them generate content once a month, 40% every week and 15% every day.

Age difference is always less determining. Consumers aged 18-35 behave similarly to and over 65 year-olds when visiting the web: they spend similar time on the web (15.4 hours vs 14.7 hours per week), own a similar number of devices (3.9 vs 3.2) and employ social media at similar levels (97% vs 71%).

The UK is the market with the higher percentage of online purchases (11%), the rest of Europe, US and China range between 5-6%. Japan counts for 7%, while the country with the least online purchases is Brazil (2%).

The highest percentage is registered for affordable luxury (8.5% of total sales), aspirational has lowered to 7.5% and absolute luxury to 3.6%. Best performing categories are cosmetics and ready-to-wear (both 7.2%).

The growth in online sales is driven by monobrand stores (28% of the total) by department stores (16% of the total). Out of the total online purchases, three out of four purchases are influenced by internet research.

Armando Branchini, vice president of Fondazione Altagamma, closed the presentation of the study commenting:The online channel is always more defining itself to become a true real retail channel. Let's hope that this brings some positive consequences such as, for instance, the slowdown of the constantly rise of rent rates of traditional stores.”