Mastering social media dynamics for luxury brands in 2024
In a world where luxury and digital intertwine, how are the titans of the fashion and luxury industry shaping their narrative on social media ? And what is steering their digital presence?
If not directly linked, all data are from the Visibrain study “Les tendances du luxe sur les réseaux sociaux”.
The state of luxury on social media: a record-breaking 2023
As we welcome 2024, a pivotal year unfolds for luxury on social media, posing questions about its evolution. An astounding 176.1 million messages flood the digital realm, marking a 35% surge from the previous year. The luxury industry continues to be the epicentre of online discussions. Beyond the virtual buzz, the giants of luxury witness a parallel surge in sales, projected to reach an impressive 362 billion euros in 2023, an 8% uptick from the preceding year.
In the social media spotlight, Dior, Prada, and Yves-Saint-Laurent emerge as the standouts of 2023. With a mention count of 32.8 million, Dior takes the lead, closely followed by Prada (16.3 million) and YSL (13.4 million). Louis Vuitton and Chanel round off the top five, solidifying their influence in the digital sphere.
Examining the engagement of 30 luxury houses from June to November 2023, the study reveals the average interactions across various platforms. Notable highlights include Louis Vuitton leading with 25 million, followed by Dior at 17.9 million, and Gucci at 8.6 million.
Instagram retains its throne among users
In the realm of luxury, Instagram stands tall as the unparalleled platform for engagement. This undisputed reign is substantiated by a staggering 90.3 million likes generated by these 30 luxury brands, far surpassing other social media platforms.
With a unanimous strategy, luxury houses communicate predominantly in English on Instagram, aiming to reach a global audience. A staggering 98% of photos and videos on the platform are presented in the language of Shakespeare. This linguistic approach serves the overarching goal of connecting with an international clientele.
Story-telling is a crafted weapon, masters of creating enchanting experiences, luxury brands seamlessly blend real-world events with their social media communication. Exhibitions, café launches, and pop-up stores come to life on platforms like Instagram, captivating audiences. Louis Vuitton stole the show with their parisian exhibition “LV Dream,” where the Monogram Maison collaborates with renowned pastry chef Maxime Frédéric, tantalising audiences globally.
And while product showcasing remains imperative, luxury brands strategically avoid making it the focal point on social media. Embracing the essence of luxury, rarity, and exclusivity, these houses infuse a sense of dream into their communication. Products are curated alongside an atmosphere, a storyline, or a prominent personality, steering clear of the conventional spotlight.
Despite the surge in short videos, luxury houses maintain a stronghold on photography, constituting 72% of their Instagram posts. While short videos, particularly on Instagram Reels, gain popularity, the timeless allure of curated imagery continues to captivate audiences.
Luxury conquers TikTok
Mastering the unique landscape of TikTok, luxury houses leverage popular hashtags like #TikTokFashion, accumulating an impressive 80 billion views since its inception. By incorporating this trend into their content, eight luxury houses, including Louis Vuitton, Prada, and Loewe, strategically position themselves on this thriving platform.
TikTok becomes the preferred platform for relaying Fashion Week catwalks, transforming into a virtual front row. Users become privileged attendees, observing collections with the same detail as if they were physically present.
But while TikTok proves to be a powerhouse, we sound a note of caution. Success on TikTok demands substantial personal investment, vigilant trend monitoring, and professional content creation. Venturing onto this platform without a robust strategy can be overwhelming, necessitating thorough preparation.
Out with X, Threads on the horizon?
Once the quintessential platform for real-time updates, X (Twitter) remains a conduit for luxury houses to disseminate their latest announcements. However, despite its omnipresence, Twitter is not the primary choice for luxury brands or their target audience.
Meta’s Threads, a new entrant in the social media landscape, is already a triumph, boasting 100 million users in October. Luxury houses, including Dior and Louis Vuitton, are quick to embrace this platform, reflecting a potential shift in the social media landscape
Strategic imperatives: the heart of social media success
In the intricate tapestry of social media, a well-crafted strategy stands out as the indispensable key to unlocking success. Navigating the ever-evolving landscape of digital platforms requires more than just a sporadic presence; it demands a meticulous plan, a narrative that resonates, and an understanding of the nuances unique to each platform. This is where social media managers and agencies step into the spotlight, assuming a pivotal role in not only shaping but also executing effective social media strategies for luxury brands.
Luxury brands, with their unique positioning and discerning clientele, require a tailored approach that goes beyond the conventional marketing playbook. Social media has evolved into a distinct profession, and as such, demands a level of commitment, expertise, and constant adaptation. The days of treating it as a secondary aspect of marketing are long gone. Instead, it has become a dynamic field that necessitates dedicated professionals who can navigate the complexities of algorithms, trends, and evolving consumer expectations.
The indispensability of a robust social media strategy becomes even more apparent when considering the contemporary business landscape. Beyond mere visibility, a carefully crafted digital presence on platforms like Instagram, TikTok, and emerging networks like Threads is a gateway to forging meaningful connections with a global audience. It serves as a conduit for storytelling, brand immersion, and, ultimately, conversion.
The ability to harness the power of social media effectively is not just an added advantage but a necessity for luxury brands aiming to thrive in the competitive and ever-evolving market.
At Slava we are architects of narratives, orchestrators of engagement, and, ultimately, catalysts for the sustained growth and prosperity of brands in the digital age. Give us a call to boost your social media presence!
Sources : Visibrain, Engadget