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Sep 19

State of Luxury 2018: The Insider View – More Luxury Companies have Embraced Internet Marketing and Ecommerce …

DUBLIN–(BUSINESS WIRE)–The “State
of Luxury 2018: The Insider View”
report has been added to ResearchAndMarkets.com’s
offering.

Based on a new survey among 600 luxury industry executives across a wide
range of vertical sectors (e.g. fashion, jewelry, home furnishings,
travel, hospitality, design) and companies that support the luxury
industry in marketing, advertising and technology strategies. This study
provides a unique perspective on the luxury market from the point of
view of those that compete in the luxury industry.

The study, conducted in partnership with Luxury Daily, the world’s
largest luxury business publication, found that the industry’s biggest
challenges and opportunities revolve around the same trend:

The rise of the digital economy

Key findings include:

More e-commerce: More luxury companies have embraced Internet marketing
and ecommerce, with 68% of luxury goods brands now selling goods over
the internet, as compared with 62% in 2016.

More advertising: More luxury brands will invest more on advertising in
2018, than in 2017. This is a key bellwether of confidence in the luxury
market. But how brands will allocate advertising spending will shift
this year away from traditional media to digital.

Increased commitment to social media advertising and promotion: Social
media advertising and promotion will gain the largest share of luxury
brands’ advertising investment in 2018, along with website enhancements
and Google Ad Words.

Print advertising losing effectiveness: Print advertising is losing
relevance to luxury brands. Only about half as many brands report they
will be allocating advertising budgets to print this year, as to social
media.

Positive expectation for growth: Luxury insiders have a more positive
expectation for growth in 2018 than they did in 2017. This year 47% of
the insiders polled feel that business conditions in the luxury market
will improve in 2018, compared with 43% last year.

More HNW UHNW consumers: Luxury insiders view the changes in wealth
distribution, particularly the rapid growth in the numbers of HNW and
UHNW clients, as opening the doors of new opportunities in 2018.

Luxury consumers more willing to spend: Luxury insiders also report that
luxury consumers are increasingly willing to trade up to luxury rather
than opting for lesser-quality, lower-priced alternatives.

Opportunities abound for luxury brands in 2018. What excites me are new
products and new approaches to life that address the consumer – body,
mind and soul. The new luxuries are serenity, vitality and radiant good
health. What encourages me is how we are creating new definitions of
luxury, this luxury insider proclaims. This report will help luxury
companies map a path to growth in 2018 by gaining insights from their
peers in the industry.

Key Topics Covered:

  1. Letter from Mickey Alam Khan, Editor in Chief, Luxury Daily
  2. Letter from Pam Danziger, President, Unity Marketing
  3. Executive Overview
  4. Luxury Insiders’ Surveyed
  5. A Closer Look at the Luxury Goods Services/Experience Marketers
  6. Advertising, Marketing and Innovation Strategies
  7. Key Trends Impacting the Luxury Market
  8. What 2018 Holds for the Luxury Market

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/state-of-luxury-2018-the-insider-view-more-luxury-companies-have-embraced-internet-marketing-and-ecommerce/

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