Weak retail store sales have prompted a lot of luxury brands to go online, adding shopping functions to their websites. According to the 2014 China Luxury Forecast jointly released by Ruder Finn and IPSOS, 36 percent of mainland Chinese and 34 percent of Hong Kong respondents prefer to shop for luxury online – respectively a 22 percent and 24 percent increase compared to 2012.

That being noted, online shopping still only accounts for a small portion of overall luxury product sales. Italian luxury business association Fondazione Altagamma estimates that online shopping made up no more than 4.5 percent of overall global luxury sales in 2013, although a 28 percent increase has been achieved compared with 2012.

Insiders from the luxury business hold different opinions about the relationship between E-commerce and luxury products.

Guo Fanli, manager of CIConsulting, a Chinese industry research consulting institution, is convinced that luxury goods and e-commerce are born enemies. "Luxury consumption values shopping experience and communication of the brand's concept over other things, and consumers are less sensitive to prices, which make exclusive stores at large shopping malls the best channel for luxury goods," he says. "However, the selling points for E-commerce are low price, speed, and holiday promotion, which go against the fundamentals of luxury shopping."

Zhou Ting, on the contrary, believes the two are complementary. "The O2O business model has provided opportunities for luxury brands. Online-offline interaction can remedy the loss of customer experience. With an upgrade of the luxury retailing industry, and the creation of experience and service centers, it can become the principal element of offline retail business," said Zhou, president of Fortune Character Institute, a China-based professional research and consultancy institution that specializes in the study of wealthy people's lifestyles. According to Zhou, luxury E-commerce has the potential to develop into a one-stop service provider, but the brands need to figure out how to offer good service.

"Many luxury brands are looking for opportunities to bring their business online, and that trend is going to continue in 2014," Zhou added.