Lavish consumers have shown interest in purchasing goods over the Internet, and, as a result, many brands have embraced e-commerce as part of their retail strategy. This new environment helps them engage more with customers and effectively distribute high-end products. Designing an online shopping website is challenging, which is why not all luxury brands go through the trouble of setting up their own online store. They prefer selling through marketplaces such as Net-A-Porter or James Edition. These places are open 24/7, without geographical borders.
When talking about online marketplaces, it’s impossible to ignore Amazon. Amazon literally dominates e-commerce. Several factors contribute to its power within the virtual landscape, including but not limited to its loyalty program, discounts at Whole Foods, not to mention streaming services. We don’t know how it happened, but Amazon has become the most lucrative online marketplace. Anyone looking for a business opportunity can start selling on Amazon. Nonetheless, it presents a set of challenges, so many seek support in the form of Amazon seller consulting, which is focused on support, advice, and training.
Even though Amazon is the dominant force in e-commerce, the technology powerhouse hasn’t convinced too many luxury brands to join its online marketplace. Examples of luxury brands include Gucci, Billy Reid, and Movado. In the old days, the only place to find items like these was in opulent department stores. Amazon features a designer section, where brands can create separate online boutiques. So, what’s the problem? Why aren’t high-end products selling like hotcakes?
Hard as it may be to believe, luxury can work on Amazon
Until now, luxury has remained untouched by Amazon. Even if the giant has some luxury brands on board, it hasn’t wooed prestigious ones. Could selling on Amazon diminish a brand’s luxury image? Quite possibly. Luxury is something that’s at the same time exclusive and rare. It’s an item that’s difficult to obtain, generally speaking. But that doesn’t mean that luxury can’t be exclusive and widely available. Luxury brands need to understand that Amazon is a transactional marketplace, where the product is more important. Online luxury sales have skyrocketed since the beginning of the coronavirus pandemic, and it would be a shame not to take advantage of this opportunity.
Not that long ago, Amazon launched Luxury Stores, an invitation-only site for just a few Amazon Prime customers. The Luxury Stores haven’t made the corporation a credible threat to other luxury-focused e-commerce sites, but there’s still time. Interested shoppers can request an invitation through the landing page to join the waitlist. Prospective customers enjoy a 360-degree viewing mode for their selected items. Most importantly, Amazon always listens and learns from customers, being inspired by the feedback received from Amazon Prime customers. Anything sold from Luxury Stores is guaranteed to be authentic, so there’s no need to worry about counterfeit goods.
Luxury can work on Amazon, but it’s paramount to view it as an asset, not an enemy. Through the lens of the luxury brand, the lower-cost price doesn’t exactly align with the organization’s mission. Nevertheless, small details don’t matter. What matters is that selling on Amazon has many benefits, such as low marketing costs, international expansion, and, most importantly, more sales. Amazon’s impressive customer base is hard to ignore. 95 million people have Amazon Prime memberships in the United States alone. It seems that people love getting the Prime treatment. If you sell on Amazon, you’re able to tap into this network of dedicated shoppers.
Launching a brand on Amazon: What does it take?
If you’re one of the few lucky ones who have been honored with the invitation to sell on Amazon, take advantage of this unique opportunity. You’ll soon understand that selling on Amazon isn’t like anything else. Clear content and good imagery aren’t enough to make it big. If you want to take your luxury brand to the next level, please keep this in mind.
Be prepared to offer complementary products
Combining products from various categories, which complement each other, you can bring in many sales and offer consumers a real deal. Commonly referred to as cross-selling, brick-and-mortar stores have long used this strategy. You have the chance to draw attention to and recommend items that shoppers will genuinely like. Make sure to include seamless payment integration. If you want people to pay large sums of money for your products, offer an experience that regular brands can’t offer.
Sales won’t immediately ramp up
It’s unreasonable to expect that sales will immediately ramp up. Persuading people to buy your high-end products is hard, even if you’re on the biggest online marketplace. Breathe easily and take things slowly. It’s best to treat this slow period as an opportunity. For instance, you can host events. Create an unforgettable in-store event and bring in names in your industry. Soon enough, sales will come in (even when you’re not trying to sell any product). It’s just a matter of time. Sales will start rolling when you expect it the least.
Get advice from someone who knows what they’re doing
As mentioned in the beginning, some Amazon sellers get advice from professional consultants. It would help if you did the same. Just think about it. An expert can help you set up a thriving business online and navigate the most difficult obstacles. This person has gone through the same process, so they know what they’re doing. A good Amazon seller consultant will offer a wide range of services, such as marketing consulting, SEO consulting, and so on. Their e-commerce expertise will enable you to meet your business goals. Within a few months of engagement, sales will explode.
All in all, when it comes to selling high-end items on Amazon, there are many lessons to be learned. Success takes time and consistency. Hopefully, you won’t have a hard time. Dedicate some cerebral power to analyzing the situation, and everything will be just fine. It’s never going to be perfect so that you know.