Farfetch and Neiman Marcus join forces to update luxury retail for the ecommerce age: The fashion platform will invest up to $200 million in the retailer, with the latter using Farfetch’s ecommerce tools to power digital channels.

Across almost all product categories, US luxury shoppers are far more likely to make purchases in-store than online. Physical retail had the widest lead in the food and beverage category, followed by watches and jewelry. Digital got the upper hand in only fashion and travel, suggesting that for many tangible luxury goods, shoppers prefer to see and feel them before spending big bucks.

Insider Intelligence associate analyst Christina Obolenskaya spoke with Ricky Joshi, co-founder and chief strategy officer of Saatva, on providing "accessible luxury" products to customers. Saatva sells high-end mattresses on its ecommerce platform, as well as bedding products, bed frames, and more.

Two fintechs powering circularity and resale of fashion and luxury items pitch sustainability while also edging their users into a tokenized economy.

Resale Will Play a Larger Role in Fashion’s Ecommerce Future. Sales on online fashion resale platforms will represent 10.0% of all US ecommerce apparel and accessories sales by the end of 2025, reaching a total of $30.63 billion. We expect double-digit growth throughout our forecast period (2021 to 2025). In online fashion resale, 2022 will be a banner year for sales growth.

In the US, the audience for virtual goods and services, including NFTs, skews highly young and male, but even within these demographics, a significant share has either no interest in NFTs or doesn’t know what they are, according to the most recent Insider Intelligence Ecommerce Survey conducted by Bizrate Insights in February 2022. Awareness of NFTs has risen substantially over the past year, however.

Last September, Alibaba’s Taobao ecommerce platform sold RMB 1 ($0.15) mooncake NFTs to celebrate the Mid-Autumn Festival. Tens of thousands of consumers participated in a drawing for an opportunity to purchase one, according to online media site Zaker. Alibaba minted a limited collection of Winter Olympics NFTs that featured a short animation paying tribute to the Games.

Fashion resale platforms focus on expansion first, profits later: The RealReal, thredUP, and Poshmark all saw strong sales in 2021, but must now cope with slow shopper growth and high infrastructure costs.

Retailers will need to move beyond the current 2D focus of ecommerce to prepare for a more social and immersive future of shopping. Investing in talent for applications such as AR will be most important for brands in beauty, fashion, and home furnishings.

Insider Intelligence spoke with Kate MacCabe, Brooklinen's vice president of Product, a DTC brand selling luxury bedding products.

US jewelry sales grew 27.5% in 2021 to reach $47.1 billion, making up 8.8% of the apparels and accessories category.

Retailers will need to move beyond the current 2D focus of ecommerce to prepare for a more social and immersive future of shopping. Investing in talent for applications such as AR will be most important for brands in beauty, fashion, and home furnishings.

Fragrances will see about $240 million in US ecommerce sales this year, following a massive 72.9% growth rate in 2021, when consumers returned to social activities but stuck with their pandemic-induced habit of shopping online.

Rolling out a Stitch Fix-like personal shopping service. Introducing luxury fashion online shops for designer fashion brands. The Style shopping experience is facilitated with the mobile Amazon Shopping app. In-store consumers can use the app to:. Send items to a fitting room or pickup counter. Scan an item’s QR code to view more sizes, colors, and customer ratings. Access real-time recommendations.