Ralph Lauren, Michael Kors, Coach, Gucci, and Louis Vuitton, capture nearly 70 percent of desktop and mobile market shares.
NEW YORK, Dec. 9, 2014 /PRNewswire/ — PM Digital, the integrated digital agency of Paradysz, today released its 2014 Trend Report: Luxury Brands Online, exploring the ways in which digital and social media are affecting change and fueling growth throughout the luxury industry. The report utilized data provided by Experian Marketing Services. Additionally, PM Digital Vice-President of Research & Analysis, Glenn Lalich, will join Experian Marketing Services for their Behind the Label- Luxury Consumers in a Digital World webinar Tuesday, December 9 at 2 PM ET. The webinar will explore the marketing challenges and opportunities facing today’s luxury brands.
The annual report has been expanded to include 73 brands within the luxury apparel and leather goods sectors. The report reveals how luxury brands are challenged with engaging audiences that are comprised of stark contrasts. From affluent to aspirational and old to young, the demands to produce engaging omnichannel content that resonates across demographics with varying lifestyles and intentions are higher than ever before. In addition, mobile is increasingly responsible for driving brand interactions, and subsequently, online and offline conversions.
“Luxury retail has always maintained a highly nuanced relationship with digital media,” said Chris Paradysz, co-founder and CEO of PM Digital. “Our study found that while some brands fully embraced ecommerce and social media from inception, other historical high-fashion houses have been hesitant to accommodate the all-inclusive nature of digital media for fear that increased accessibility might conflict with traditional bricks and mortar relationships and, as well, might destroy the premium price mystique they enjoy. As proven by this study, however, more luxury brands are following and adapting to their customers’ digital and mobile-first mindsets, and have seen that omnichannel relationships increase customer value.”
According to the report:
- Five luxury brands (Ralph Lauren, Michael Kors, Coach, Gucci, Louis Vuitton) capture nearly 70 percent of both desktop and mobile market shares.
- Search engines continue to provide the largest traffic streams to brand sites, accommodating for nearly half of all luxury brand site visits.
- Google alone counts for 43% of referrals to luxury brand sites – 20x as much as Bing or Yahoo!
- The largest share of visitors to luxury brand sites are age 55+, but the most overrepresented demographic are millennials from ages 18-24.
- In 2014, year-to-date, 9.2 percent of luxury traffic came from other luxury brands, up from 5.4 percent in 2013.
For more on 2014 luxury brand online marketing strategies, please download the full report at http://www.pmxagency.com/resources/whitepapers-research/2014-trend-report-luxury-brands-online/.
About Paradysz + PM Digital
With its direct and digital businesses, Paradysz + PM Digital’s core capabilities are based in a data-driven approach to understanding, targeting, cultivating, acquiring and optimizing customer value for clients. Through comprehensive expertise across all media channels, SEO/Content/Social as well as creative and web development, the company leverages proprietary research tools and an obsessive focus on performance to help clients make the most informed marketing decisions. With a client list that’s a “Who’s Who” in all verticals within retail and luxury, including apparel, leather goods, shoes, jewelry and accessories, Paradysz + PM Digital have continued to grow their reputation as the industry’s most critical thinkers and leaders.
For more information, please visit www.pmdigital.com.