The fashion industry is undoubtedly a key aspect of influencer marketing, giving content creators the opportunity to inspire and sway the purchasing decisions of a wide variety of consumers. Iconic brands from around the world are also highly aware of these trends and are eager to continue to reap the benefits of this lucrative form of marketing. To discuss this idea in more depth, Netinfluencer will delve into the key findings shown in the 2023 State of Influence: Fashion report.
Who Conducted the Survey?
The 2023 State of Influence: Fashion report was carried out by Traackr, a comprehensive influencer marketing platform that allows brands to search through a wealth of complex data in order to find a solution that best suits them. This platform also uses a variety of demographic analytics to assess the suitability of certain brand partners, meaning that even the smallest of businesses can effectively direct their content to their target audiences.
Traackr also acts as a Creator Marketplace, offering key insights into a wide selection of influencers such as their age, brand affinity, and niche. Businesses can also alter their search to find exclusively micro-influencers, ensuring that they work alongside a content creator that also adheres to the needs of their budget.
Alongside these features, this platform also sees itself as a hub for informative content. Traackr often conducts various surveys and deep dives into an abundance of lucrative sectors. As such, the platform also works to stay ahead of the curve to provide its clients with a range of valuable information.
This report is separated into a variety of different parts in order to give a unique look into the inner workings of the global fashion industry. The first section of this report explores key metrics within this industry and whether they saw an increase or decrease in popularity across 2022. This section mostly focuses on social media engagement, using platforms such as TikTok, Instagram, and YouTube to dictate whether a niche has seen adequate levels of online engagement.
Moving on to the second section, this part explores how different countries react to different fashion trends. This part uses data from the US, the UK, France, and Germany to assess which brands are performing best in their relative niches and locations. It should also be mentioned that each brand is judged on a collection of benchmark criteria in order to make the assessment less biased.
Finally, the third section of this report gives us a small glimpse into the future of fashion, presenting an array of up-and-coming trends. Traackr also collates data from over 45,000 influencers from the US and Europe to showcase how content creators are maximizing the earning potential of these viral trends.
Three Key Takeaways
Traackr offers a wide variety of intuitive insights, allowing us to gain a broader sense of how the fashion industry continues to find success on social media. Listed below are just three key findings from this report.
- Although influencer-generated content decreased throughout 2022, video views and short-form content continued to increase exponentially.
- Reselling is expected to become an extremely profitable and popular trend in 2023.
- Footwear is considered to be the best-performing niche on social media, based on video views.
What Does This Mean for Influencer Marketing?
The first finding within this report explores how even though sponsored influencer content was in decline in 2022, this did not affect the success of this content. More specifically, Traackr also informs us that although there was a 13% decrease in US influencer content, it still managed to earn a 58% increase in video views. Thus, we can assume that brands are being more selective in the types of influencers they choose to work with and are cautious not to overwhelm their audiences with sponsored posts. It also seems that global brands are only working with a small handful of influencers at one time, suggesting that businesses are more likely to form long-term relationships with content creators rather than constantly search for new recruits.
Reselling is often referred to under a plethora of different names including Upcycling and Thrifting and signifies those who purchase second-hand clothing to repurpose or to sell again for a profit. This term managed to gain a 4% increase in posts, a 3% increase in engagement, and a further 46% increase in video views. This immense increase in popularity highlights how many influencers are pushing a keen focus on sustainability and frugalness, meaning that fashion brands may also need to alter their marketing strategy in order to fit in with this ever-growing niche.
The final finding from this report expresses the prevalence of footwear on social media and how it manages to overtake other items in terms of video views. This report explains that the footwear niche saw a 74% increase in video views compared to 2021, which greatly exceeded other categories including clothing and accessories. As such, we can assume that many footwear brands are looking to collaborate with influencers for their next campaign as it seems that they have the ability to increase engagement year-on-year.
Link to the Report
The 2023 State of Influence: Fashion report can be found on Traackr’s website alongside more information about its software as well as access to its latest insights.