No fewer than 176 million messages were posted on social media by the luxury sector in 2023 – a 35 percent increase from 2022. This highlights the popularity of major luxury brands on social media platforms, bringing together hundreds of millions of internet users.
Visibrain’s new study states that the luxury industry is taking full advantage of the visibility afforded by Instagram, TikTok, and YouTube, setting a new record in terms of interactions. Visibrain looked into shares and likes relating to the luxury sector on Instagram, TikTok, Facebook, and YouTube between June and November 2023.
Some luxury brands, like Louis Vuitton and Dior, stood out than others. With no fewer than 25 million interactions, Louis Vuitton is the most influential luxury brand of the year. Dior comes second with 17.9 million interactions. Gucci had 8.6 million interactions, Tiffany & Co. 7.6 million interactions, Cartier 4.7 million, Chanel 4.5 million, and Prada 4.4 million interactions.
Gregory Gary, CEO of Summit Communication Group, highlighted a stark divergence in brand performance, some achieved stellar growth and some declined. He said the change is rooted in a recalibration of values, where traditional markers of luxury like high-quality materials and exclusivity are intertwined with the potent concept of cultural capital. “This shift is particularly pronounced in the age of Generation Z, social media, and influencers, compelling luxury brands to forge personal, emotional connections that resonate with today’s discerning clientele.”
Gary pointed out that Gen Z spends up to nine hours daily on screens. “The craving for human connection is paramount. Luxury brands must navigate this digital landscape, crafting narratives that resonate on a deeper, emotional level. This isn’t just about influencing consumer behavior; it’s about creating stories that engage and inspire, making brand values resonate with target audiences.”