Interesting news from the world of social media as a number of the world’s most recognisable luxury brands have begun to embrace TikTok. With retail numbers heavily affected by the pandemic and the world’s fashion weeks going virtual, embracing channels like TikTok to engage with the next generation of luxury consumers seems like a smart move. And, its indicative of Covid-19's impact on luxury brands.
Traditionally the sector has been somewhat insulated from the challenges facing other brands. High levels of brand affinity, celebrity endorsement (embracing influencers long before Instagram popularised the concept) and the prestige consumers felt when sporting the right logo have protected them. Now, things are very different…
In addition, building a smart social media strategy presents equal opportunities in what has become something of a bifurcated sector. In a sector comprised of either family-owned businesses and conglomerates, engaging in the right way with social media presents is a great leveller. The size of the business makes no difference if the content and brand resonate with the audience. Add to that the power of embracing the right influencers and a very effective marketing channel will develop.
We can expect more on this over the coming weeks as luxury fashion brands look to take their products to their consumers as the industry’s major convening opportunities become broadcasts not events.
While embracing new marketing tactics is a proven way to broadcast your message and products to existing and new audiences, there are greater transformational challenges in the sector that need to be addressed, we’ve reflected on this on our recent paper ‘What’s next for luxury brands?'