Role of Brand Advocacy in the Luxury Market
Image, exclusivity and personal experiences are key in recruiting advocates in the luxury market. When endorsing a brand, Luxury Brand Buyers are most ahead of the average for doing so when something enhances their online reputation (17%), in exchange for exclusive content (22%), and for having a personal relationship with a brand (22%).
From a brand-by-brand perspective, it’s Chanel which comes out on top here, with around half of its consumer base advocating the brand to others. More than 4 in 10 buyers of Ray-Ban, Armani and Gucci are also advocates of those brands. Importantly, it’s these brands which also display the largest consumer bases in our list, demonstrating how fostering advocacy among customers is crucial in such a competitive market as the luxury industry.
With around 4 in 10 Luxury Brand Buyers stating that consumer reviews play an important role in their purchasing considerations, it’s clear that winning over advocates in this market can go a long way.