In collaboration with IPSOS MORI, Facebook and Instagram unveil the results of their first study dedicated to the luxury sector by decoding new consumer uses.
By Luxus Plus
As part of the first Facebook and Instagram study, in partnership with IPSOS MORI, more than 4,500 consumers in the sector were surveyed in France, Italy, the United Kingdom, Hong Kong, Japan and the United States.
The digital revolution has transformed the luxury sector, which is undergoing profound changes. With IPSOS MORI, Facebook and Instagram demonstrate that social networks, used by 93% of consumers, play a predominant role in the purchasing process by promoting consumer proximity to brands and meeting their expectations.
There is also a strong presence of Millennials and Generation Z in the luxury market through the main communication channels.
This study provides a more precise understanding of the interest of social networks in the purchasing process and how they are used to consume luxury goods.
According to Morin Oluwole, World Director of the Luxury Department at Facebook, “Luxury consumers are 1.7x more likely to use social media than “non-luxury” consumers.
Indeed, during the purchasing process, the mobile has become the new showcase for luxury brands where 77% of “fashion shoppers” say they consult their mobile in store. According to the study, there is also a strong presence of Millennials and Generation Z in the luxury market through the main communication channels, where 89% of them use Facebook products on a daily basis. It also reveals that 51% of consumers in this generation prefer to buy their items online, and that nearly 20% of luxury products are purchased online by all consumers.
More than a third of the purchases made by luxury consumers involve at least one Facebook product.
In addition to being a new means of communication, social networks are becoming the primary source of influence on luxury goods purchasing decisions where 80% of consumers say they interact with brands, influencers and their peers via social networks.
This study also reveals that more than a third of the purchases made by luxury consumers involve at least one Facebook product. Through criticism and recommendations, read by 60% of consumers in the sector, social networks are proving to be a real source of information. 47% of Millennials and “High spenders”, consumers of luxury products, say they have discussed their purchases on one of the Facebook platforms to extend their consumer experiences.
According to the study, Facebook and Instagram would therefore be real growth drivers for the sale of luxury products where the players, in order to adapt to this new clientele, have implemented real strategies of conquest.
