The Rise of Online Luxury – Gen Y and Gen Z

Online shopping has been growing through the years, and with the worldwide pandemic it can only grow further, even when fashion houses are reporting lower sales between 10-30% in the first quarter of 2020. Adjusted data from the Statista Consumer Market Outlook 2019 expect the share of online sales to grow by 64% between 2018, 14% this year, and 18% by 2023, in time for Gen Y and Gen Z becoming the majority clients for luxury goods.
With the ongoing lockdowns in a number of countries and major cities, we can foresee an actual bigger online share as 2020 goes on, even if the overall market for luxury goods is expected to tumble down this year by 30-35%.