In a struggling economy, online shopping might replace even the highest high-end stores.

• In the wake of the recession, luxury stores are forced to sell merchandise on the web.
• Selling clothes online, though less atmospheric than a downtown boutique, allows profits to go directly to the company by cutting out the costs of a store.
• Technology’s infinite possibilities has increased the number of high-end online stores, allowing boutiques to make their websites seem as impressive and exclusive as their boutique.

Facts & Figures

• In 2009, when the worldwide luxury-goods industry fell 8%, luxury sales online were forecast to grow 20%

Best Quote

“These brands are finally taking the plunge to establish an online retail presence. The recession forced these manufacturers to realize they needed to look for revenue wherever they could.” – Jeffrey Max, Chief Executive, Venda E-Commerce Sites

Tags: economy, internet, luxury goods, retail, shopping