A recent ASSOCHAM report suggested that the Luxury market in India would surpass $18.3 billion in 2016. Online Luxury sales are also picking up pace in small cities, which is a good sign for the market.
Online Marketplace, Amazon launched a Luxury range just 4 months back and now it is the turn of Alibaba backed Paytm. Reports suggests that Paytm plans to role out the ‘Anasa’ Luxury mobile platform, although sources insist it will not be so soon.
Paytm has tied up with International Luxury brands:
Apart from foreign brands, Paytm is also targeting local Indian designer brands that sell products with high ticket sizes. The idea is to create an online Luxury mall, where customers can purchase from the comfort of their mobiles.
Overcoming Luxury Fakes
Countless fakes being sold online is making foreign brands apprehensive when dealing with marketplaces. Flipkart had introduced mystery shoppers to target fake sellers, so this could be a possible solution. Deep discounts are also affecting the brand image of Luxury brands. This will prove a more interesting problem for online marketplaces to fix.
Are you a Luxury seller? Which are the best platforms to sell your goods?