According to Facebook statistics, 96 percent of the next generation of luxury consumers - Generation Y - are using social media. And 27 percent of them claim their purchase decisions are influenced by such sites. These facts, sourced from a Forbes article, are another clear indicator of the growing power of sites like Facebook and Twitter.
This compelling article argued that social media can not be overlooked, saying “Brand makers that don't create their own conversation with their most passionate customers through social networks risk having a passionate consumer create that presence instead. Facebook and Twitter are cluttered with brand sites that weren't created and aren't maintained by marketers. And, what happens when brand makers don't initiate the conversation? Two good examples can be found on @123dolcegabbana on Twitter and the Emporio Armani fan page on Facebook. Both feature fans boasting of their discount brand purchases and fashion critiques, but no voice from anyone who officially represents the brand."
We had a quick look at 123dolcegabbana on Twitter and found they had 2,800 followers. And the Emporio Armani site had 204,725 fans. That’s a large window of opportunity for these brands, one that would be a huge shame to waste.
For more on the social media debate, consult our recent MO Down reports: Luxury Car Brands Hitting The Brakes On Social Networking and Louis Vuitton’s Paris Fashion Show To Be A Facebook Spectacular.