In its annual Luxury Brands Online report, the PMX Agency noted the growth and influence of Millennials and Generation X in the luxury space as well as the influence of social media on shopping and brand loyalty.
Researchers at the firm noted that across the four major social platforms — Facebook, Instagram, Twitter and YouTube — “followers took 936 million-plus engagement actions with luxury brands in the last 12 months” while the “highly visual Instagram” allows for quicker “likes,” which makes it the “most popular luxury social platform in terms of engagement.”
Regarding generational cohorts, Generation X and Millennials have emerged as the dominant ones visiting luxury brand web sites, PMX noted. Researchers at the firm said “across both genders, the largest percentage of visitors come from younger members of Gen X [22.7 percent] and older Millennials [22.4 percent].”
With referrals, Google is tops at 48 percent. Authors of the report said the search engine “remains the single biggest source of traffic to the luxury category. At 7.4 percent, social media is the second largest source of web site traffic for luxury brand sites. Facebook accounts for nearly half of all social traffic [3.5 percent], followed by YouTube which drives 2.1 percent of luxury brand visits.”
PMX also said the number of luxury social media followers “grew by over 27 percent in the past year, fueled primarily by growth in Instagram followers.” The firm said that for the third year in a row, “Chanel added the most Instagram followers [year-over-year], gaining 9.5 million.”
“Popular content promoted videos from fashion shows along with star-studded photos,” the authors of the report said. “Handbags and shoes continue to be the most popular product keywords bringing consumers to luxury brand sites. Gucci is the top brand for shoes, while Michael Kors, Coach and Louis Vuitton are the leaders for handbags.”