Trend Report: Luxury Brands Online
This year, the most important trends impacting the luxury sector and its global consumers won’t be defined by a bourgeoning creative genius, nor a daring new collection sent down the runway. Luxury, as almost every other major industry around the world, will be defined by human crises, in a year that’s likely to go down as a time that alters the course of life and culture for years to come.
Embedded within our 2020 report is our customary analysis of online engagement, including site metrics, brand searches – this year, with a new global view across fifteen countries – and social media engagement, in order to demonstrate how different marketing techniques resonate with luxury audiences. However, in an unusual and unprecedented year, we view these data points with an eye towards the challenges faced by the luxury sector, as a result of the global COVID-19 pandemic and other critical social and societal crises faced by consumers and businesses around the world in 2020.
But despite the sector’s challenges, there is ample reason to be optimistic about luxury’s future, as brands work to drive bold changes across their organizations, shifting to digital and engaging customers online with the experiences that make luxury truly special.