Luxury Online Fashion Market Forecast
According to a recent McKinsey forecast, the UK online luxury fashion market is set to grow by 20% in 2015 to 497,000,000 Euros.
The German high-end fashion market is set to grow by 11% year on year, while the mature US market will grow by 15% in 2015. Italy, with its long tradition of luxury fashion, surprisingly has one of the smallest online fashion markets in the western world worth only 57 million Euros in 2014. However, it is expected to double in its size by 2018. The UK and France are also said to double the size of their online luxury fashion offer.
Both the growth of the demand for luxury products and the rate of online shopping adoption are pushing the designer fashion e-commerce revenues. This presents a great opportunity for fashion retailers and manufacturing brands. It underlines the importance of e-commerce and digital marketing for the luxury sector.