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Historically, the idea of selling luxury items on the web has been a difficult proposition. Intrinsic with “luxury” shopping is the experience of walking into a well-appointed shop and being waited upon by knowledgeable, experienced associates. As this recent U.S. News article details, brands have had a difficult time translating that into an online experience. After all, even the most creative or cutting edge website cannot capture the feeling of walking into a Hermes store or a Porsche dealership.

On the other hand, people are spending an increasing percentage of their time and money online, making for a poor business decision to ignore the web and its potential. Luxury brands should embrace the internet and what it does best - connecting people and sharing information – as they formulate interactive marketing strategies and develop websites.

One of the best aspects of the web as a marketing tool is the ease with which communication can spread, generating buzz can be as simple as getting a few top bloggers to write about the brand and products. Accordingly, building brand equity and tying these communities together is essential, by creating an online home base, luxury brands can disseminate information, facilitate communication, gather feedback, communicate with customers and prospects, and generate sales. After all, massive amounts of people are using the web to research purchases (that they make online and in-store), making it essential for companies to establish a presence on the web. Customers and advocates are going to be discussing products regardless, brands should be joining and facilitating those conversations.

Which brings us to “Web 2.0” and online communities. There are thousands of social networking sites, message boards, forums, and review sites on the net, including sites dedicated to luxury goods. A few examples include the Purse Blog (an amazing resource for designer handbag aficionados), Egullet.org for passionate home chefs, and of course 3LUXE.com for a curated selection of products and services. Luxury brands can take advantage of existing communities in a variety of ways, including advertising, sponsoring blog posts, giving interviews and interacting with customers through sites like Twitter and YouTube. Luxury brands already have that insider’s cachet – the sense of belonging to special club – adapting  web strategies and bringing that club online will lead to great success.

All the best,
Bill

Almost anything can be bought online these days, everything from groceries to memberships in fractional jet ownership programs. However, until recently the upper echelons of the traditional fine jewelry world chose to stick with brick and mortar stores; that recently changed with the launch of the Harry Winston online salon. This e-commerce site is designed to showcase the iconic brand’s signature diamond jewelry, and it is touted as a “personalized experience for customers who prefer the convenience of online shopping”.

Most people feel comfortable buying a top notch computer or home theater on the net; after all, when it comes to electronics and other more functional items there is not as much emotion involved in the purchase. But traditional retailers of diamonds and similar luxury items, have been hesitant to move online, believing their customers preferred a refined retail experience. Online retailer Blue Nile has taken advantage of the absence of traditional luxury retailers, selling millions in diamonds to time constrained consumers, all while building their brand and proving there is a demand for luxury on the web. Recent surveys confirm that consumers are more comfortable making these types of purchases online than was originally assumed. An article in the Wall Street Journal illustrates how many online shoppers have significantly more money than time, making the internet an ideal shopping solution.

Of course, 3LUXE’s curated selections are an even better answer to the money versus time conundrum – and with the continued rise of luxury e-commerce, carefully researched, independent reviews become an even more important aspect of shopping, especially on the web.

All the best,
Bill

At 3LUXE, we understand that shoppers have an overwhelming amount of choice, especially during the holiday season. Everywhere you look there is another ad or another sales pitch for the latest must-have products or hot gift item. Fortunately, the idea of a curated shopping experience (the idea of offering a product selection as carefully chosen and researched as a museum’s collection; in some ways, an offline version of 3LUXE) is gaining traction in the retail world – even major brands like Tiffany are experimenting with tightly focused concept stores.

This isn’t entirely a new trend. Inspired by tastemakers like Colette in Paris and Moss in New York, hip boutique owners have been combining clothing, accessories, home goods, music, artwork, and other items for several years now, offering a carefully edited selection that embodies their individual aesthetic. In fact, many of these shops are not so much retail outlets but aspirational showcases for a particular lifestyle. However, recently big name brands like Tiffany and Neiman Marcus are seeing the benefits of a curated shopping experience.

According to this recent Portfolio article, Tiffany plans to launch up to seventy curated concept stores over the next few years; the first one has already opened in Glendale, California. Geared towards fashion-forward women buying jewelry for themselves, the store is cozier and less intimidating than the marble palaces of the Tiffany flagships. It features merchandise placed out in the open, allowing customers to try on pieces and shop with minimal assistance, and breaking from traditional strategies, items are grouped by style and trend, not by metal type. Other future concept stores will be targeted and tested against different segments of the market.

Neiman Marcus has also been opening more narrowly focused stores lately. The Cusp shops, of which there are only six nationwide, feature trendy mid-range pieces from labels popular with young women, including Theory, Diane Von Furstenberg, and an array of designer denim along with a small but exquisite selection of shoes, handbags, and accessories. Unlike the main Neiman Marcus stores, Cusp has a more boutique feel, with stylists on hand to help shoppers put together the perfect outfit (the Cusp staff also runs a great blog).

The idea of major retailers curating merchandise towards different groups instead of offering it all under one roof is a relatively new one; some claim that dividing up their merchandise risks dilution of the name. On the other hand, it can also be argued that these retailers are strengthening their brand with concept stores – by offering a selection chosen to appeal to a certain audience, they better serve that segment and may even pick up new fans who would be unlikely to venture into the larger flagships. The Paradox of Choice: Why More Is Less, by Barry Schwartz illustrates that by offering less, retailers provide shoppers with simpler decisions that result in increased sales and when you consider the sheer array of choice in today’s retail market (think big box stores, warehouse outlets, and websites like Amazon that sell everything under the sun), it’s easy to see how “less is more” could prove to be a wise and even revitalizing decision.

All the best,
Bill

During times of fiscal uncertainty, noticeable conspicuous consumption can feel vulgar or even immoral. However, not everyone is suffering from economic woes, and individuals who are insulated from the crisis may not feel inclined to cut back their spending or pare down their lifestyles. That said, ostentatious spending seems even more tasteless than usual when much of the world is making do with basic necessities.

Of course, the idea that true luxury is refined and subtle is not a new one – Coco Chanel, arbiter of all things classically elegant once stated “luxury is the absence of vulgarity” and some of the most prestigious labels are known for their discretion. For instance, houses like Bottega Veneta and Hermes never feature logos or obvious branding on their products; the idea is that those who are in the know understand their value and aesthetic, and that is all that matters. Clearly, while the idea of “stealth wealth” is particularly appealing at the moment, it is not a new innovation.

A recent article in Forbes covers ten ways to purchase luxury items discreetly another article in Newsweek is more to the point, as it claims that ten ways to purchase luxury items discreetly. Both pieces offer tips on spending in a more unassuming manner; for example, choosing items from labels like the aforementioned Bottega Veneta that eschew flashy logos, or splashing out on items like high end fragrances and cosmetics whose pedigree is not immediately apparent. Technology and useful gadgets like a pair of beautifully designed headphones were also considered smart selections.

In addition to discreet products, there is also a shift to a more discreet shopping experience as luxury consumers continue to migrate online. A recent article in ten ways to purchase luxury items discreetly focuses on a study by Google that challenges the traditional insight that luxury consumers prefer the in-store shopping experience. The article highlights that wealthy consumers “vastly prefer online shopping to in-store and are much more likely to use the internet than their not-quite-as-wealthy brethren.” According to John McAteer, industry director-retail at Google, these consumers “are strapped for time and looking to the internet not only to shop but to find product reviews and information.”

At 3LUXE, these are the consumers we’re trying to help. We understand that the best products aren’t always the most obvious choice and that a certain amount of expertise and research is required to uncover the best of the best—particularly those luxury items that are a bit more discreet. With vast amounts of information available on the web it’s easy to lose focus and become sidetracked when researching products on the net, by continuing to “do the research you would do, if you had more time” the team at 3LUXE hopes to make online shopping easier and ultimately save all consumers time. We believe that time is perhaps the greatest luxury of all and the one luxury that can’t be bought.

All the best,
Bill

• Lexus IS-F
• Infiniti M-35
• Jaguar XF
• Lexus LS 460
• Mercedes-Benz GL Class
• Lexus RX-400 Hybrid
• Mercedes-Benz M Class
• Mercedes Benz E320 Bluetec
• Audi A6
• BMW 5 Series

I thought it would contain insightful research on “green” luxury cars, I was wrong. The Forbes article focused on cars priced between $40,000 and $90,000, and it appears the biggest contributing factor in making the “guilt free list” is a high resale value (around 50%) after three years. Of the ten cars on the list, only two achieved a 25 mpg rating, the Mercedes-Benz E 320 Bluetec and the Lexus RX400 Hybrid. What’s appalling, five of the ten cars failed to achieve 20 mpg.

Now don’t get me wrong, the list is compromised of some great cars. For the most part they’re not marketed as green alternatives and they’re reliable, fast and often push technology in important features like safety. But based on mpg, I wouldn’t classify them, as Forbes states, “environmentally friendly.”

It would be great to see more automakers follow Tesla’s lead and create cars that challenge the status quo, drive new technologies and change the industry. At $109,000 the Tesla Roadster is priced higher than any of the cars Forbes reviewed, it’s also 10x more efficient than the top car on Forbes’ list with a 256 mpg equivalent. In addition to owning an extremely fuel efficient car, owners have comfort in knowing they’re a benefactor to an innovative new company that’s driving change. Other benefits to owning a Tesla; 0 to 60 in 3.9 seconds and what’s bound to be incredible resale value. Orders for the first 100 signature models took less than three weeks to fill. With limited production, the first few model years are sure to become collector’s items, making the Tesla not only a “Guilt-Free” choice, but a solid investment.

All the best,
Bill