Introducing Our 2014 Trend Report: Luxury Brands Online
Our annual luxury study, created in partnership with Experian Marketing Services, looks at digital offerings and year-over-year growth for 70+ luxury apparel brands, ranging from Louis Vuitton to Stella McCartney. The study uses site visits, brand searches and social reach as proxies to assess growth and consumer engagement. While luxury brands represent a significant business sector (over $282 billion in 2014), they also provide insight into what it means to create a captivating and resilient brand experience. The progress and success of some of these efforts potentially offers lessons to all marketers, regardless of size, price point or demographics. A sampling of findings from this year’s report include:
- The top five luxury brands by market share are Ralph Lauren, Michael Kors, Coach, Gucci and Louis Vuitton.
- The majority of traffic to luxury sites now comes from mobile devices (59%).
- Luxury sites are much more dependent on search traffic than the broader apparel market (49% vs. 38%.)
- The largest share of visitors to luxury brand sites are aged 55+, but the second largest group is 18-24.
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.
For more on 2014 luxury brand online marketing strategies, please download the full report today.