Think You Know the Luxury Ecommerce Market? 

Check your knowledge in an eMarketer quiz

August 28, 2017

How much do you know about luxury sales online? What percentage of luxury sales occur on digital channels? How does China fit into the mix? Take the eMarketer Retail quiz to gauge your knowledge.

1. According to an April 2017 report by Bain & Company, digital made up 8% of all luxury sales worldwide in 2016. What percentage of the market does Bain project for digital sales by 2025?

    • a) 12%
    • b) 21%
    • c) 25%
    • d) 31%

2. In February 2017, Deloitte surveyed luxury goods buyers around the world about their purchasing habits. What percentage of luxury purchases did respondents estimate they made via digital channels?

    • a) 11%
    • b) 18%
    • c) 26%
    • d) 37%

3. In a December 2016 survey, Digital Luxury Group asked 25 luxury fashion brands if they had a presence on WeChat, the dominant mobile platform in China. Of those 25 brands, how many said yes?

    • a) 14
    • b) 17
    • c) 23
    • d) 25

4. McKinsey & Company estimates that luxury goods spending in China made up 32% of the global total in 2016. What percentage will China have in 2025, according to the firm?

    • a) 30%
    • b) 44%
    • c) 51%
    • d) 58%

5. Thanks to duties and taxes, luxury goods prices in China are considerably higher than the global average, which helps explain why Chinese tourists have the reputation for being big spenders when they travel. According to a March 2017 Exane BNP Paribas study, how much higher are luxury prices in China?

    • a) 21%
    • b) 25%
    • c) 32%
    • d) 37%


Answers

Question 1: The correct answer is “C.” Digital is expected to account for 25% of all luxury sales by 2025. Department stores are expected to see their share slide 10 points, from 23% to 13%, over the same period.

Question 2: The correct answer is “D.” Luxury buyers in Deloitte's survey estimated that 37% of their luxury purchases were made online. Deloitte found that consumers in so-called mature markets tended to favor physical stores a bit more than the average.

Question 3: The correct answer is “C.” Of the companies surveyed, 23 indicated that they had a presence on WeChat.

Question 4: The correct answer is “B.” China’s share of global luxury spending is expected to reach 44% by 2025. In 2008, China accounted for just 12% of the market.

Question 5: The correct answer is “A.” Prices of luxury goods in China were 21% higher than the global average, the study found. Meanwhile, prices in Italy and France were 22% lower than the average.

Need more data and insight into the worldwide luxury ecommerce market? Check out eMarketer’s Luxury Ecommerce report. Subscribers to eMarketer PRO can access the report here. Nonsubscribers can purchase the report here.


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