Two-thirds of shoppers in London prefer to buy luxury goods, such as watches, in stores rather than online.
A survey conducted by new luxury jewellery trade exhibition Luxury by IJL asked Christmas shoppers in central London where they preferred to purchase high-end goods. Only 15% said they had brought luxury items online, while 64% said buying in stores is their preferred choice.
The survey also revealed that 83% of respondents buy luxury goods for themselves.
IJL event director Sam Willoughby says that the findings of the London survey should be encouraging for luxury retailers and brands operating in the UK. She added: “It is excellent to see that traditional retail stores are holding their own in the luxury retail sector."
Other findings from the survey include that more than half of those asked admitted that they would forgo the necessities of life to afford something luxurious, while more than a third admitted to buying luxury items on a whim and 19% stated that they treat themselves to luxury purchases more than twice a year.
Celebrity endorsements have little power at the luxury end of the market, with 72% of survey respondents insisting that they are irrelevant in influencing their purchasing choices.
What does matter is brand power and product, with 16% of those asked stating that the reassurance and cachet of a well-known luxury brand was important when it came to buying and 14% saying they were influenced in their choice by fashion and trends. And 31% of those surveyed believed that quality, design and wearability were all key factors in their decision-making.
Asked to name their most treasured luxury item, 44% named a piece of jewellery or a watch, with a further 23% quoting a piece of clothing. Dogs, children, husbands and wives were also fondly named by a few, as were pieces of art and even a silver teapot.
Luxury by IJL will run from August 31 to September 1 alongside established jewellery and watch trade show IJL, which will take place at Olympia in London for the first time next year, following its move from Earl’s Court.