Internet – a Great Motivator for Buying Luxury Products, Study Shows

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Buying things on the Internet had a strong influence on the market and today the Internet has a powerful effect on consumers willing to acquire luxury goods.

The Luxury Consumer Tracking Study, which analyzes the usage of the luxury consumers on the Internet, taking into consideration the average age of 43.6 as well as the average income of $150,000 has shown that 46% of people why purchase jewelry, watches, accessories and cosmetics surfed the Internet in support of their current purchases.

The study also showed that consumers who surf through the Internet to find out more about home luxury products spent 11% more on their homes. Instead, people who use the Internet in search for personal luxuries spent 12.5% more on such goods as jewelry, watches, fashion and cosmetics.

In addition the study performed by Unity Marketing revealed that over 3 months about 40% of people who buy luxury have visited social-networking sites, including Facebook, YouTube and MySpace.

“Young affluents, those 40 years and under, were the most active social networkers, but even one-third of the over-40-year-old consumers reported visiting a social-networking site,” in a statement outlined Pam Danziger, Unity Marketing President.

Due to the difficulties related to returns and exchanges, about 35% of luxury consumers seem to be discouraged from addressing to the Internet, the study revealed. Besides, 21% of this target segment doubt about making big-ticket purchases, such as jewelry, online.

“The research also shows that [consumers] will visit a retailer’s Web site to ‘browse’ before they head out to the store. The lesson is that luxury marketers and retailers that offer their customers a Web site get a significant return on investment in terms of more spending,” mentioned Danziger.