Online auctions, rising trend for the luxury market in Spain
The use of online auctions for the purchase of luxury products in Spain has been positioned as a new trend during 2021, increasing by 85% over the previous year. In addition, the trend in this market is oriented towards an increasingly younger audience, as demand so requires.
This trend is due to a profound generational change in the luxury market that is forcing it to reinvent itself. This will require a greater involvement of brands, greater listening and involvement. In four years, 70% of the luxury clientele will be under 40 years of age and, during that period, will have contributed to 180% of the growth of this market.
Last year, a quarter of the luxury market was generated by new customers who had never previously purchased this type of product. Likewise, their forms of acquisition are evolving, as is the case with digital auctions, where the purchase process needs much more customer involvement and interaction.
Trends in electronic commerce by 2022
Another upward trend in recent months is e-commerce. The epidemiological situation of the past year, which still persists, has led many small and medium-sized enterprises to incorporate it into their businesses and invest in their digitization, in order to increase their sales through this route.
These consumption trends also affect how to do so. The user, in addition to meeting their purchase needs, also wants to do so through experiences and novelties. The shoppertainment manages to merge shopping and entertainment. This method increases customer involvement in the purchasing process, and user experience is more interactive and fun.
As a result, brands must look for more subtle and complex niches or strategies to offer their products. They must offer a different, original and entertaining impression for the customer to get hooked up and participate in the purchase process.
In turn, it highlights the drive for sustainable products, transparency as an indispensable basis of business, and the importance of the prevalence of health and personal well-being, over other needs.
These 2022 trends also mark the consolidation of large marketplaces, which seek to improve their distribution channels and make a more friendly user experience. In addition, electronic commerce is adapting to voice-seeking and, in addition, recommerce is proliferating, that is, the sale of second-hand products in the face of the growth of the circular economy.
