Throughout the last several months, Farfetch showcased the highest level of discounts within the luxury marketplace sector in the month of June. With monthly new discounts, albeit small, Farfetch stands out. This difference in strategy could be contributing to additional users entering the Farfetch platform in order to take advantage of the constant new discounts.
Maintaining the Leading Position
Throughout the past year, Farfetch’s success has surged and its assortment strategy along with its e-concession business model, partnerships such as the Alibaba x Richemont Farfetch deal as well as its Pre-Owned and most recently its Pre-Order services, have all contributed to its rise to the top and solidified its position in the luxury marketplace sector. Its large brand assortment also allows the company to appeal to and reach a wider range of luxury shoppers, differentiating it from its competitors.
With marketplaces such as MyTheresa, following suit and starting to use e-concession models on key brands and partnering with resale platform Vestiaire Collective, how will the luxury marketplace sector evolve in the coming years?