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.
- Influencers’ Influence
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 ethical engagement rings. The message behind an ethical diamond can be the unique selling point for the brand’s marketing tactics.
Another popular brand Chanel partnered with famous K-pop singer Jennie by making her the brand ambassador. She is now the new face of the Coco Crush jewelry line.
Spending a few hours for thorough research on influencers, their followers, and how their followers will help your sales is essential. Once you crack this code, you can boost your sales several fold.
- Visual Presentation
The most distinctive use of social media platforms is to present your product in the most unique, visually appealing way.
Creating the most luxurious look for your luxury product will attract consumers’ attention. Capturing and presenting the most striking features of your product is essential. It can be highlighting the product based on:
- Textures or lines or a combination of these elements.
Good photography comes with good lighting. Creating a picture with the most distinctive lighting to catch the user’s eyes is fundamental to good product photography.
- Behind the Scenes of the Products
Luxury brands are not just luxurious for their prices. The pricing comes from the story behind each product. The unique tale like local artisans’ products, cruelty-free products or anything else should come forward to the consumers.
Use Instagram features like reels and stories to bring out these stories in the most creative ways. In recent years, the power of video messages has risen to 7%, reported by AdWeek. You can also put a clickable product link with each story to direct customers to the right product.
Take inspiration from Chanel’s Instagram profile on how they present the behind-the-scenes (BTS) and the final product.
Along with the stories, a worthy strong caption and the correct hashtags can create magic too.
- Household Income Targeting
When selling a luxurious product, it is wise to remember that not everyone can afford it. Luxury products and the lifestyle it follows can be inspirational to many. Instagram and Facebooks Ads aim to target an audience of variable demographics.
But recently, Facebook came up with the new initiative of targeting audiences based on their annual income.
Luxurious products can be inspirational to many, but not all might end up buying those. However, if we show the Ads to the top earners, we can bring traffic and revenue.
The household targeting metrics work in a way that emphasizes the average income for a specific ZIP code. After analyzing, they pull together a list of Top earners. This metric will ensure you are projecting Ads to the correct income-oriented target to increase your sales.
- Different Instagram Features
Instagram is a visual platform. The content and product should be attractive enough to catch consumers’ attention. Branding and marketing tactics help grow your business by generating more sales.
But before that, another essential point to consider is your Instagram profile. A luxurious brand’s Instagram profile should make the audience feel special.
Your Instagram feed should give users a luxurious feeling for them to make a purchase. A few elements you can focus on to change the Instagram game are:
- A color theme throughout the feed provides a rich and elegant to your feed.
- Three is a magic number on Instagram. You can use the three rows of Instagram to display a product from different angles.
- Make use of features like broken-up images, landscape images, etc.
The most important formula to remember in Instagram marketing is the correct balance between products, user-generated content, and a robust lifestyle.
Luxurious products are not just about selling. They give consumers the feel of an upgraded lifestyle. But your branding shouldn’t make anyone feel inferior. Sticking to the roots of your brands and focusing on bringing a luxury product to the end consumer will result in actual and repeated leads and growth.
Name: Rebecca Puttock
I’m an experienced lifestyle blogger. Passionate about the internet, media, entertainment and celebrities. I love to create buzz among the media. Big fan of voguemagazine.