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Reyad Hossin
Apr 13, 2022
In General Discussions
Interesting times are ahead for luxury marketing . On the one hand, this sector has experienced the digital revolution like all the others. On the other hand, experts point out that in 2020 we are going to see an economic slowdown in two of the largest economies in the world, the United States and China. To survive or even thrive in this economic environment, luxury brands will need to consider adapting their strategies to the times. So now is the time to start preparing for these 7 Luxury Marketing Trends in 2020 . Do you want to know the 222 digital marketing trends and predictions that will change the landscape of our sector in 2022 ? Click here and download the free ebook that we have prepared for you with all the information. 7 trends in luxury marketing for 2020 Luxury Marketing 7 Trends for 2020 (1) 1) Strategic digital storytelling According to McKinsey data from a individual email list Jing Daily article , nearly 80% of luxury product sales are digitally influenced. Therefore, luxury marketing in 2020 should examine its digital strategies from new perspectives, prioritizing the most innovative distribution channels. Storytelling has always worked very well in luxury marketing, since the purchase of this type of product is usually driven by emotional reasons such as pleasure and not so much by rational factors. Therefore, content that appeals to feelings manages to connect with this audience. The challenge now is to modernize the classic storytelling techniques to be able to transmit the same message through new communication channels, such as social networks. Thus, brands can quickly get their message across through resources such as Stories or live broadcasts and reach a new and younger audience. 2) Adapting to digital disruption Most luxury brands are trying to keep up with younger consumers. But in this search to implement the newest technologies and communication platforms, sometimes the human aspect is left aside. Most luxury brand employees have only basic tech skills. Therefore, this aspect is left in the hands of a handful of highly trained employees, who in practice have the power and responsibility to translate the essence of the brand into a digital format.
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