Luxury brands reveal online trends
The PMX Trend Report: Luxury Brands Online for 2016 is now out. At 40 pages, the report is now in its 7th year.
If you’re not involved with the luxury sector directly, it’s still worth a glance because of the trends it reveals about branding, marketing and digital. It shows which brands are getting it right in one of the most fiercely competitive sectors of them all, and therefore anyone interested in consumer or design trends will also find it interesting.
The report is also data rich, with search statistics, sources of traffic, top keywords and social media stats.
- Top 10. The top 10 luxury brands are, in descending order, Ralph Lauren, Michael Kors, Coach, Louis Vuitton, Gucci, Chanel, Burberry, Hermès, Louboutin and Versace.
- Gender. Nearly every female age segment from Millennials to Baby Boomers scores highly for luxury brand engagement. Males, on the other hand, are more concentrated by age, particularly 35-44.
- Mobile. Luxury brand sites are mobile-dominant, with 52% of all traffic coming from a smartphone or tablet. This far outpaces the average website (35%). Luxury consumers are among the most digitally savvy.
- Staying in the luxury mood. Nearly 40% of visitors leaving a luxury brand site keep shopping by going on to another retail site, often another luxury site.
- Social. Site visits are down a little from the prior year, but social media activity is up dramatically, especially on Instagram which has seen huge year-over-year growth.
- Growth. In spite of the economic rollercoaster affecting other sectors, the luxury market continues to grow, although growth slowed a little in 2016. It was worth $282 billion last year. 2% to 3% p.a. growth is projected until 2020.
Source for full report