Luxury retailers invest in tech and communications as online sales rise

28-06-23

New research shows that up to 28% of luxury goods sales will be online within three years and investment on instore technology will grow.

Executives are predicting an increase of 36% in spending on retail technology. Credit: insta_photos via Getty Images.

Luxury goods retailers are set to significantly boost spending on technology and communications over the next three years as sales increasingly go online, new research by communication technology company Communications Specialist shows.

The study surveyed senior executives at luxury retailers with a total annual turnover of $3.1bn across Asia, Africa, Europe, the US and South America.