Luxury brands spend huge on Instagram
- Luxury brands focus more on social platforms
Brands use bloggers and influencers for marketing products is gradually becoming a popular trend / Ph: instagram
Luxury brands focus more on social platforms
The luxury groups with cash rich like LVMH and Kering are changing the game by investing big budgets on their social media channels, aim to drown out rivals. Luxury brands like Gucci, Louis Vuitton and Christian Dior are spending huge on their social media platforms that has prompted other brands to invest more in social networks. Collaborating with bloggers and influencers for marketing products is gradually becoming a popular trend. Fees per sponsored post at an influencer account that has about four million followers have reached more than 20,000 euros ($22,546). Gregory Boutte, Kering’s digital chief, said that "there was a big shift in how they were thinking about advertising and creating aspiration. Then with every type of social platform, we needed different types of videos, of pictures. We did not create content on YouTube as we did on TV." However, Kering refused to disclose their total advertising costs. According to Citi analysts, Louis Vuitton currently also allocate half of the marketing costs to digital media. LVMH refused to grant more information. And according to a Launchmetrics report, just over 10% of social media influencers earned $100,000 or more a year in 2018, compared to 3.7% in 2017, though hiring the most popular bloggers is only one of the costs involved. As digital investment increased, mid-range luxury brands are now in an increasingly awkward position. For example, some Italian shoe manufacturers are among the revolving brands that invest more in social media to recover sales. It is possible that investing in social platforms like Instargram is the smart plan for the luxury brands.
Luxury brands spend huge on Instagram
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