Increased utilization of cutting-edge communication technologies has expanded the potential for experiential marketing in the luxury industry. This is of particular relevance given the increasing significance of the Internet as a communication and distribution channel within the luxury sector. The Luxury Institute found that 88% of wealthy consumers cite preference for using the internet to research luxury firms, and 38% prefer to purchase luxury goods online, versus 33% who favor face-to-face transactions. However, the luxury industry still lacks standards and feasible procedures for e-Business practices, ranging from choice of websites for advert type, advert placement and measurement of advertising effectiveness, to approaches to Web 2.0; in addition to platforms, such as blogs and social networks, and development of e-Boutiques, e-Merchandising and e-Customer Relationship Management (e-CRM) tools, among countless other issues.