The Vogue Business Index findings show that a handful of luxury brands outperform in digital marketing and brand perception than their rankings with a panel of 8,000 luxury consumers worldwide would suggest.
Alexander McQueen, Versace and Valentino have all amassed a significant number of views on Condé Nast platforms for the last two years running, despite lagging in other consumer perception metrics like brand loyalty. These houses also have a strong presence on at least one of the four social media networks tracked: YouTube, Instagram, Facebook and Twitter.
This suggests resonance beyond the world of luxury purchases. That currency will be important for winning over Gen Z customers whose buying power will increase despite the current economic travails. Indeed, Alexander McQueen and Valentino are among the brands that are particularly popular on secondhand sites, per a BCG study from last year.
As fashion weeks move online, digital skill sets will be a further advantage for brands. Those that have practiced this trade ahead of time by nurturing digital assets and creating marketing moments are in the best place to adapt to this new reality. Versace ran a marketing masterclass in 2019 when it brought back the classic green dress worn by Jennifer Lopez for their Autumn/Winter 2020 collection, before styling the singer for her appearance at the 2020 Super Bowl. In 2019, the Italian fashion house saw its YouTube views double.
As Covid-19 has locked down the West, many luxury brands have readjusted their digital messaging away from product promotion to brand-affiliated content.
Gucci has at points dedicated its Instagram feed to public health messaging, while other luxury brands have offered up virtual residencies or digital concerts. The next edition of the data within the Vogue Business Index, which will be updated on a biannual basis, will explore whether or not these efforts, and the transition back to product-related messaging, were successful.
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