The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
Yoox Group outlines an omnichannel e-commerce approach
The luxury retailer’s consumers want to shop from any web-connected device.
Topics: alexander mcqueen, apparel, balenciaga rossi, e-commerce, fashion, luxury brand retailer, luxury goods, luxury retail sites, McKinsey & Co., mobile commerce, omnichannel, Online shopping, Sergio Rossi, smartphones, Speech recognition, Top 500, Yoox Group, Yves Saint Laurent
Luxury brand retailer Yoox Group is targeting consumers who use more than one Internet-connected device and has set its sights on bolstering its mobile commerce efforts.
In a recent presentation to investors, Yoox said the opportunity to sell across multiple retail channels is “too big to be missed.” Using a forecast from consulting firm McKinsey & Co. that projects $19.96 billion in global online luxury sales by 2016, the retailer says its plan for capturing sales involves multiple online and store services.
Among them are the ability to book online a tailoring appointment, check in-store product availability, integrate online and offline customer information into a single database, offer a buy online and return in store option and offer ship from store and same-day delivery.
One major component of this effort is to offer multiple mobile commerce services. As of July, Yoox says 31.5% of its global traffic is from smartphones and tablets. It launched a mobile commerce site in 2009, and in 2012 it added speech recognition to its mobile app, enabling consumers to search for products by voice.
Cross-channel selling, the retailer says, will be “one of the driving forces behind the growth in luxury consumption.”
Yoox divides its businesses into what it calls its multi-brand line, which includes company-owned e-commerce sites Yoox.com, TheCorner.com and Shoescribe.com, and its mono-brand line, which includes the set up and management of luxury retail sites for brands such as Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga and Sergio Rossi.
Yoox is No. 195 in the Internet Retailer Top 500 Guide.