By Doug Brown

Instagram is a quintessential part of our lives and the e-commerce world. One of the fastest-growing market hubs, Instagram generated an estimated revenue of $24 billion in 2020. Till 2018, Instagram had 1.41 billion users, and the number is multiplying each year.

The starting of the pandemic acted as a catalyst for increasing the digital marketplace. Instagram, Facebook, and other social media have become popular platforms to sell products and build a business.

From small companies and local businesses to selling luxury products, Instagram has become the market’s favorite.

Luxury Products Selling on Instagram

Recent years have seen tremendous growth in selling and buying of luxurious products on Instagram. The online presence of brands is bringing more popularity, sales, and traffic. Millennials are spending more time shopping online than visiting stores.

A brand’s presence on social media is an added selling point for the younger generation. The most popular and influential luxury brands are also making their way into social media channels to reach a larger audience. According to research by Luxe Digital, by 2025, 30% of the global luxury sales will happen through online modes.

Brands are focussing their shift on consumption and consumer preferences. Global luxury brands saw a hit in total sales during the pandemic, but it became even more robust. The data shown by Luxe Digital shows the growth of luxury brands pre- and post-pandemic.

Source Luxe Digital

Personal luxury goods are the top-selling category. It grew 29% in 2021 compared to the 14% growth for luxury brands as a whole. Luxury products in recent years are not just about pricing. They are becoming more meaningful, contextual, and diversified.

Five tips for selling luxurious products

But are all luxurious brands having the same online presence? The answer will be No!

According to the data by Luxe Digital, a lot of famous luxurious brands had a shift in their global ranking in 2021. Many favorite brands like Fendi, Lancome, and Saint Laurent didn’t make it to the top 15 list. However, brands like Tom Ford, Givenchy, and Moncler climbed higher.

So, how do we understand which luxury brands are performing well online? There are a few pointers to consider for that:

• Brand value
• Share in social media
• Social media conversation
• Voice share search

Now that we have understood the importance of the online presence of luxury brands. Let us see some actionable tips to achieve this.

1. Influencers’ Influence

Source Chanelofficial

The power of influencers in the digital era can take your brands to heights. Especially for luxury brands, finding the most appropriate influencers who will serve as a symbol is truly powerful. 63% of consumers trust influencers’ messages and their way of using the products.

For example, engagement ring brands can pick an influential figure who wears ethical lab cut diamonds for …read more

Source:: Social Media Explorer

Author: Aaron