The rise of the digital economy simultaneously poses the biggest challenge and growth opportunity to the luxury business, according to the newly released “State of Luxury 2018: The Insider View” report fromAmong the many findings, the 40-page report also reveals that social media advertising and promotion is where the largest number of luxury goods and services brands will invest their advertising and marketing budgets in 2018, followed by Web site enhancements and Internet advertising such as...
, the world’s leading luxury business publication, and subscribers to research from Unity Marketing, one of the premier market researchers focused on luxury and retail.The report found that 68 percent of luxury goods brands now sell goods over the Internet, as compared to 62 percent in 2016. “The search is on for the next generation of luxury consumers and, increasingly, luxury brands realize that they must troll the Internet to find them,” said Pamela Danziger, president of Stevens, PA-based Unity Marketing and lead researcher in the study.
“This is a bellwether of strength in the luxury industry, as brands pick up the pace to attract new customers and communicate their branding messages through media that is most relevant to them,” Ms. Danziger said.
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