Social Commerce: A Luxury that Luxury Brands Can’t Afford?

Posted by Jennifer Vano on November 12, 2010 02:05 PM

Once the candy of young adults, social media is now becoming the meat and potatoes of valuable brands and value-oriented consumers.  But it’s no longer enough to stick a logo, some boilerplate marketing copy and a handful of ads on your Twitter, Fourquare or Facebook page and call it a campaign.  As social media becomes analogous with social reality, users want to – you know – socialize with their favorite brands the way they do with their friends: through open dialogue and unique, fun and mutually beneficial exchanges. 
 
Welcome to the age of social commerce. Social media—specifically, a strategic social media presence—not only supports but also shapes consumer and brand behavior and increases brand and personal value.  Why?  Let’s break this down. You allow an entire network to review your Tweets about recent purchases, Tumblr posts about cool finds, or Facebook likes and dislikes.  That network cares about what you have to say, which validates your opinions and amplifies your confidence, your I-have-something -to-add chops.  It’s social currency and makes you a more desirable friend online and offline. Brands are starting to get it, and are giving consumers a reason to feel special and wanted via social media outlets.  Continue reading...

brand news

Brands in the news: Apple, Chanel, Google and more

Posted by Dale Buss on November 12, 2010 09:10 AM

In the News

Apple, Procter & Gamble and Unilever are among brand leaders in the next digital generation of customer engagement, a Capgemini study says.

Chanel, Gucci and Louis Vuitton rank as the most attractive luxury brands to Chinese consumers, a new study says.

Chase rolls out holiday promos.

Google expands product ads in search.

Honest Tea still prefers guerrilla marketing.

Kellogg plans launch of more low-cost products in India.

Lenovo to launch LePad tablet.

L’Oreal emphasizes digital and CSR in “new era.”Continue reading...

brand bites

Brand Bites: Post-Midterm Bloodbath Edition

Posted by Abe Sauer on November 5, 2010 12:00 PM

Wonderful Pistachios' new keyboard cat spokesman is perrrrrfect — and certainly an improvement over Rob Blagojevich.

Thanks to Gucci, you can now see your low-brow 3D entertainment without losing any high-brow cool.

Reinventing a symbol of charity: "Pimp My Poppy."

Starbucks pours too-hot-tea lawsuit down the drain.

Michigan family not pleased with the "crazy New York City" story it brought home: Waldorf Astoria sued for bed bugs.

Methods for paying Hades ferryman Cahron: Old and busted: Two coins. The new hotness: Kardashian prepaid Mastercard. Continue reading...

luxury watch

High Times Ahead: Luxury Brands to Rebound in 2011

Posted by Barry Silverstein on October 22, 2010 02:40 PM

Executives at such luxury brands as Burberry, Louis Vuitton, and Versace can breathe a sigh of relief. The annual luxury market study by leading consultant Bain & Company is bullish on high-end goods, predicting a strong 2011. According to Bain, sales of global luxury goods should break the 2007 record next year.

Not surprisingly, demand by Chinese consumers for luxury goods — some call it "label lust" — will drive the uptick, with growth of as much as 30 percent. Europe will see a 6 percent rise, while Japan will recover more slowly. The U.S. luxury goods market, which dropped 15 percent this year, may see a 12 percent increase in 2011.

Luxury goods marketers were positively giddy at the news. Santo Versace, chairman of the Italian fashion brand Versace and chair of Altagamma, an Italian luxury goods association, proclaimed, "In the first half of this year we talked about a light at the end of the tunnel. On the basis of the preliminary 2010 figures, we can confirm that positive trend."

The latest figures from high-end marketers seem to support the Bain forecast.  LVMH, owner of such brands as Burberry, Gucci, Krug, and Louis Vuitton, enjoyed a 14 percent increase in third quarter sales. Burberry, also an LVMH brand, reported that in the first six months of 2010, sales in its Chinese stores were up 25 percent.

Not all luxury goods will see improvement, however; Bain predicts that luxury yachts will likely experience a "double digit" decline in sales. Overall, Bain said, leather bags, jewelry, shoes and watches would be the biggest risers with an expected gain of around 8 percent next year.

luxury watch

Visit Malaysia: Home to Lush Rainforests, Fabulous Beaches and Counterfeit Goods

Posted by Barry Silverstein on October 13, 2010 12:35 PM

While much of the blame falls on China for producing and selling counterfeit goods, it's rampant and widespread. Despite actions taken by such luxury brands as Christian Louboutin, Louis Vuitton, and Versace, knock-offs of brand name luxury goods continue to be sold openly on street corners in major cities around the world.

Take Malaysia, for example. In Bukit Bintang, the well-known shopping district of the capital city, Kuala Lumpur, vendors at temporary stalls hawk fakes of such brands as Chanel, Burberry, and Gucci. Faux branded jackets, perfumes, wallets, watches, and other merchandise is available at a fraction of the cost of the real thing.Continue reading...

luxury watch

Evian Taps Miyake, P&G Glams Up China

Posted by Caroline Smith on September 27, 2010 12:00 PM

Sip in style! Evian Natural Spring Water unveils fouth annual limited edition bottle, designed by fashion legend Issey Miyake. It's available for $7.99 per bottle at evian.

Gucci launches a new interactive website, adding a touch of glamour to the world of social media.

The countdown to Christmas just got an upgrade, as Porsche unveils a $1 million advent calendar.

InStyle, Saks Fifth Avenue, Nars and Foursquare are collaborating on an interactive new promotion, allowing Saks shoppers to “check-in” at hot spots in the store and win prizes.

After the jump: Jimmy Choo, Ferragamo, Swarovski and more.Continue reading...

fashion week

Color Continues to Pop at Fashion Week

Posted by Shirley Brady on September 23, 2010 03:00 PM

If color is the new hemline indicator of the global economy, then things are definitely looking brighter for 2011.

Fashion editors and buyers thinking ahead to spring/summer 2011 have migrated from New York to London Fashion Week, which the New York Times' fashion critic Cathy Horyn summarized today as being all about one thing: "color." Now, they're searching their Italian dictionaries for adjectives to describe the hues on parade.

At yesterday's start to Milan Fashion Week, Gucci aimed for a show-stopper, above, with colors inspired by Morocco and bazaar-ready styles (harem pants, anyone?) Prada, meanwhile, also embraced glaring bright tones, which you can check out after the jump along with the Milan shows for Fendi, Dolce&Gabbana and Alberta Ferretti.Continue reading...

brand news

In the News: Facebook, Blockbuster, Chanel

Posted by Dale Buss on September 23, 2010 09:00 AM

In the News

Facebook is growing fastest in Asia, reportedly developing smartphones for AT&T, while CEO Mark Zuckerberg is donating $100 million to improve schools in Newark, NJ, which he will announce on Oprah Winfrey's show tomorrow.

Blockbuster filed for bankruptcy this morning, says its 3,000 US stores will remain open.

Chanel cracks down on how its name is used.

Wal-Mart tries to unmask corporate foes that have slowed its growth in groceries.

Abbott recalls some Similac formula over potentially tainted packaging. 

Adidas targets growth in Russia.

Apple's iPhone 4 finally goes on sale in China on Saturday.Continue reading...

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