Use of the Internet and an increased sense of social responsibility are among the factors that will influence luxury buyers in 2009, the New York-based Luxury Institute predicts.

According to the Institute's predictions, traditional luxury goods and service providers will begin to use the Internet more aggressively, as the economic downturn makes opening stores and traditional advertising more challenging.

In addition, the Institute predicts that luxury retailers will awaken to the influence of Generations X and Y and start adopting a more “M-commerce” model, meaning they will offer more entertainment, search and transaction capabilities for mobile phones.

Source: Nationaljeweler.com
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