Wed, 14 April 2021 | consumers luxury
Gucci remains the number one most popular luxury brand online with 15.2% of the total search interest for luxury goods, according to a new study by Luxe Digital. Chanel and Hermès follow close behind, with 11.6% and 10.2% of the online search interest respectively. Louis Vuitton, Burberry, and Balenciaga see their online popularity declining compared to last year.
This is the fourth year in a row that Luxe Digital, a magazine that covers the luxury industry's digital transformation, releases its ranking of the most popular luxury brands online. By analysing over 3,000 data points from Google, website traffic, and social media reach, Luxe Digital publishes an annual report on the popularity of the most sought-after luxury brands. This report has proven to be a reliable indicator of future sales.
Of particular interest this year is the strong growth seen for Versace and Hermès, gaining 10 and eight points respectively. Balenciaga is losing six points in this year's ranking to end number 12 on the list. This is mostly driven by the declining popularity of the brand's designer sneakers.
Adapting to the stay-at-home economy with premium loungewear and home collections is key to success this year. From the renewed interest in Versace's bathrobes worn by Drake and Jennifer Lopez to the Nike-Dior sneakers, luxury brands were quick to embrace a more relaxed style to answer the global demand from working from home customers.
Sustainability is non-negotiable for sustainable growth. Every luxury brand that makes up the ranking this year is currently running some form of sustainable efforts.
Global luxury brands continue to experiment with ways to engage China's growing affluent consumers online. China is indeed on track to become the world's largest luxury market by 2025. Tmall's Luxury Pavilion and dedicated WeChat boutiques are the most used channels at the moment. Brands also paid more attention to localise their campaigns for the Chinese market, avoiding cultural faux pas.
See the complete ranking: https://luxe.digital/business/digital-luxury-ranking/most-popular-luxury-brands/
Ranking methodology: Luxe Digital's luxury ranking aims to provide an insightful analysis of the most popular luxury brands online. The ranking starts with over 3,000 data points from Google Trends, SimilarWeb, RivalIQ, Deloitte, and Forbes to measure the search interest and social media reach of the largest luxury brands online. Each brand receives a score based on its online popularity and is then ranked.
About Luxe Digital: Luxe Digital is a publication of reference for business leaders and affluent consumers. The magazine reports on the digital transformation of the luxury industry with smart and sophisticated stories. Luxe Digital's goal is to inspire and empower its readers with clarity and depth of understanding.
Source: Luxe Digital