MediaPost featured an article this morning Luxury Shoppers Migrate Toward The Web. According to the Luxury Institute, families with an income of $150,000 and higher are more likely to do research on the web with 64% visiting the company’s website for additional information.

This information correlates with the stats we’re seeing from our Online Reader Survey and also relates to the navigation patterns of our readers visiting company’s websites from 3LUXE “Best Of” pages. The missing element from MediaPost’s article is the “why”? I believe the why is time, or lack there of. Consumers are constrained by the hours in a day, and the web provides a faster option for browsing, researching and shopping. As users better learn to cut through the clutter and find the useful information they desire, we’ll continue to see higher percentages of luxury shoppers migrate to the web (and 3LUXE) to fulfill their shopping needs.

All the best,
Bill

Ask any friend – they’ll claim to doing research before making a purchase. Nobody wants to make (or admit to making) an uninformed purchase. Some of us do research on everything from large investments like cars, to daily necessities like a bar of soap. The amount of time and effort we invest varies greatly by individual and can be influenced by a number of variables; cost, time, importance, etc. In a study from earlier this year, eMarketer found that 9 out 10 people, read reviews at least “some of the time” before making online purchases. Surprising to many, over 65% surveyed check a minimum of four reviews before making an online purchase. People are predominately (76%) looking to the web for a combination of user and expert reviews – all great news for 3LUXE.

What I find most interesting or surprising about online research are the misconceptions about the “rich”. Many imagine the rich to spend frivolously, going from store to store, adding shopping bags at each stop. These images are reinforced by the photos we see in grocery tabloids of famous stars doing just that, but the stereotype couldn’t be further from the truth. The majority of the rich accumulated their wealth by making wise investments and being smart about how they spend money – good habits don’t die.

MediaPost published an article last week covering a new study done by American Express and Harrison Group that illustrates how the rich comparison shop. Like the rest of America, they’re increasingly turning to the web for both research and purchases. The study defined “rich” as having $352,000 in discretionary annual income, approximately 12 million American households. This wealthy group holds 70% of U.S. assets and accounts for 50% of the consumption. With vast resources available, the wealthy go to the same place everybody does for comparison shopping, the net. 70% surveyed utilize the net to identify, price, compare and purchase fashion and home goods. Not only are the wealthy using the net for research, it has become the preferred destination for shopping, with 70% preferring the web over in-store purchases.

I often receive questions about the range of prices and breadth of categories reviewed on 3LUXE. Everything from BMX to Boeing and Strollers to Sedans, we find the best. We do this because we know it doesn’t matter if you’re dropping a few bucks on beer or breaking the bank on a new boat. What matters is doing the research right and finding the best product.

Our goal at 3LUXE is simple, to save time, your time. Instead of spending hours researching your purchases, let us do that for you. Spend your time enjoying what’s most important to you – whatever that may be.

Simply find the best of everything.

All the best,
Bill

I apologize to anyone who was attempting to use 3LUXE early this morning. During routine server maintenance we had a “glitch” which caused us to go down. The issue has been resolved and we’re back up and running.

In addition to server maintenance we recoded many of our pages (including category and Best Of) this week. The result – 30% faster page load times, allowing you to find what you’re looking for even faster. Over the next few months we will continue to enhance 3LUXE, making it easier and faster to “Simply find the best of everything”.

If there is anything you would like to see on 3LUXE (categories or features), be sure to let us know, simply use our online form or email me directly (bill at 3LUXE dot com).

All the best,
Bill

The last several months have been good at 3LUXE. We successfully launched the site and have had the pleasure of reviewing some of the most amazing products in the world. Hundreds of thousands of visitors have hit our site and we’ve received some great feedback, but we want more… feedback.

To help us continue to “Simply find the best of everything,” please complete a short survey, that will enable us to continue finding and reviewing the best products and services on your behalf.

To take the survey, simply click here.

Thank you,
Bill Worple