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Luxury Market Essay

3514 words - 15 pages

Online buzz research

Using social media in the luxury industry
22nd March 2011

About WaveMetrix
• • WaveMetrix are the author of Wave, case studies published daily which provide insight into the latest social media trends This document provides an overview of the most interesting case studies relevant to the luxury industry

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Contents

1

Executive summary

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3

Associating with elite culture
Penetrating emerging markets Preserving luxury shopping online

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Luxury brands and social media: best practices for success in using social media platforms

1. Stay in line with the brand’s image when using cultural content or forging cultural partnerships

Best practices for social media success

2. Align messaging with the cultural and commercial backgrounds of new markets

3. Distinguish gift purchasing personal shopping from, where individual aspirations are more important

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2. Associating with elite culture

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Associating with elite culture: staying in line with brand image is key for using social media
Luxury brands want to understand how social media can help them promote a unique brand image among consumers

Challenge

Case studies

Louis Vuitton, Burberry and Dior provide examples of how to associate with elite culture, through travel, music and art

Best practices

These case studies show the importance of staying in line with the brand’s image when starting cultural partnerships

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Associating with elite culture: using social media to promote a luxury brand image

Louis Vuitton engage consumers around travel and art

p.11

• Louis Vuitton use Facebook to share art pieces from its exhibition centres - the Espaces Culturels – located in Paris and Tokyo • The exhibitions focus on international cultures, echoing the theme of travel

Burberry provides branded cultural entertainment

p.12

• Burberry Acoustics endorses new British artists and shares their music through social media, including Facebook and YouTube • Many music videos are filmed in London, giving the art an authentic cultural feel

Dior partners with famous artists to produce visual art
• Dior partners with Willy Vanderperre to produce promotional visual art • The photos, which are black and white with a mysterious and dark feel to them, serve to promote the new Dior Homme collection

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Louis Vuitton: engaging consumers in conversations about travel and art
Key takeaways:
● Louis Vuitton’s elite positioning is enhanced by the Espaces Culturels
● 40% of fans associate Louis Vuitton with elite culture
Proportion of brand attributes reflected in consumer response to Louis Vuitton posts

Social media approach:
 Louis Vuitton use images of travel and art from their...

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