4 minute read
Can you recreate the luxury experience online?
from EBM Magazine #14
Malcolm Lowell
Words by Rachel Zammit Cutajar
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Luxury retail is as much about the shopping experience as it is about the actual purchase. With the world as it is, and the digital revolution showing no signs of slowing down, no signs of slowing, is it possible to get the same service from an online store? Edwards Lowell have been in the business of luxury goods for over 95 years, and their digital offerings are promising to be just as upmarket as their in-store service.
From online learning to virtual weddings and FaceTime fitness, the pandemic has forced the world into a digital evolution, but some companies have had it easier than others. Amazon registered increased profits of close to 200% in 2020, increasing its CEO’s net worth from US$113 billion in March 2020 to over US$203 billion by the end of the year. The luxury market has been a little bit harder to navigate, as customers seek out the experience as well as the actual product.
Buying luxury goods is not just about getting your hands on the exact model of your choice; it’s about the experience. Walking into a plush boutique, cracking open a bottle of bubbly, being waited on hand and foot by attentive staff who will ensure you get exactly what you’re looking for, is all part and parcel of the purchase.
One factor attributed to the success of many luxury brands has been in the acquisition of some of the costliest retail real estate, with flagship stores that appeal to the senses of the highest class of shopper. In today’s scenario, they must now be ready to roll out the virtual carpet and welcome their clientele digitally.
Visuals and descriptions on the site need to live up to the showcases on display in the stores to make up for the inability to see, touch and feel the product. While personal fittings of watches and jewellery are not available online, they have created detailed sizing instructions so that is as personalised as the one their customer would get in-store.
A lot of the time, customers visit stores without knowing exactly what they’re looking for. They rely on the assistance of knowledgeable sales staff to help them decide what’s best for them. Search filters online allow customers to select items by brand, price, gender and colour, among other specifications, and a compare feature allows customers to select two products to compare them with a list of functions coming up, side by side.
An added focus on online sales opens up the market, allowing Edwards Lowell to target customers within the European Union. It’s just as easy for someone in France to make a purchase as in Malta, with European-wide deliveries taking no more than a couple of days to arrive. Brands such as Chopard, Hublot, Tudor, Breitling, Raymond Weil, DoDo, Pomellato
and Girard-Perregaux among others have worked closely with Edwards Lowell, and encouraged them to make their products available online today with big-brands Cartier, Patek Philippe and Lange & Sohne to perhaps follow suit in the coming months.
Second-hand fashion was booming before the pandemic upended the lives of millions, and it shows no signs of slowing. The ‘pre-owned’ section of the website may be just the place for that cool vintage find at an irresistible price. There is even an option to sell your watch through the site. While the second-hand market is rife with knock-off products or originals that have been fitted with unoriginal parts, marketing manager, Owen Bonello, highlights the security of buying a pre-owned watch from an authorised dealer. “Every watch that goes through our pre-owned section has been vetted by our watchmakers and overhauled if necessary. You can be sure you are getting a genuine product – with all the original parts – when you make a purchase from Edwards Lowell.”
Trust is a huge factor when investing in luxury goods online. With over 95 years’ experience in the luxury goods market, Edwards Lowell commands a high level of trust from consumers, both locally and throughout Europe. Reputation has been a driving force in the success of the website so far. Consumers would rather spend this kind of money with an establishment that has been around for many years. With free, insured shipping anywhere in Europe on sales of over €1,000, patrons can expect next day delivery for local purchases or delivery within one or two working days further afield.
Whilst a website can never completely replicate that personalised, VIP service of a high-end luxury store, there are some aspects in which online shopping has an edge, particularly in terms of immediacy and convenience. After all, one clear benefit of the digital age, is that it has allowed shoppers to engage with their favourite brands at their leisure – whenever and wherever they want.
Life after Covid should see some return to normality, with Edwards Lowell expecting a return of customers to the store. As managing director, Malcolm R. Lowell said, “We are still expecting online sales to be a big part of our future, as the website offers convenience to both international customers as well as those who prefer or rely on online shopping. The future will see more of a balance between in-store and online purchase.”
www.elcol.com