MILAN — Treat yourself.
The Group released on Thursday insights from its global survey of 2,600 luxury customers across four continents, which showed the increasing trend toward high-end self-gifting, the growing importance of exclusivity when choosing gifts and the ongoing popularity of Instagram as a source of inspiration for purchases.
In particular, 65 percent of the surveyed customers intend to treat themselves over the festive period, with Millennials leading the trend and accounting for 70 percent of the share.
Fine jewelry and watches will be among the most popular categories, as the research shows that over 60 percent of women wouldn’t wait for someone else to buy them a desired jewel. According to the survey, the most popular items will include statement diamond earrings and pieces with colored gemstones. Similarly, over 70 percent of men will opt for buying a luxury watch for themselves.
These categories reflect how luxury customers — especially Millennials — are increasingly seeking exclusive items, as well as one-of-a-kind experiences.
To meet the demands of the 40 percent of surveyed shoppers looking for pieces that aren’t widely available — including limited-edition capsule collections and brand collaborations — and 47 percent of customers seeking unique experiences, YNAP is offering special packages.
Net-a-porter is launching a range of eight limited-edition Fantasy Gifts for the holiday season. These include an Ultimate Wellness Retreat in Abu Dhabi completed by a workout wardrobe; a bespoke gem-setting class with Jaeger-LeCoultre coming with a limited-edition Reverso watch, and a bespoke shoe experience with Gianvito Rossi, as well as head-to-toe beauty experiences in London or New York.
Mr Porter recently launched seven watches from Roger Dubuis, including an exclusive timepiece from the brand’s Excalibur family. Its purchase comes with a behind-the-scenes visit to the company’s manufacturer in Switzerland followed by a Lamborghini driving experience through the Jura Mountains.
Due to the success of the timepieces category for the e-tailer, which offers 20 luxury watch brands, a dedicated Instagram account @mrporterwatches was introduced to engage watch aficionados with a curated selection of products and styling advice.
This has proven to be a strategic move, as Instagram continues to be a source of inspiration for luxury customers’ purchases. More than half of surveyed customers said the platform influences their shopping habits more than it did three years ago. Almost 70 percent of female luxury customers and 60 percent of men said they are inspired to shop by Instagram, with Millennials being the most engaged.
Net-a-porter, too, has seen a surge in sales with just a single post of a product on Instagram. That’s why it intends to heavily feature fine jewelry and watches on its account over the holiday season, as well as partywear — another category that is high on the list. Net is also responding to this demand by launching 46 exclusive capsules from designers including Alexa Chung, Rixo, Ganni, Blazé Milano, Halpern and new brands Rotate and Retrofete.