The newly released report titled “Global Luxury Brands Analysis 2023” examines the current state of the global luxury brand market across the fashion, beauty, and watches and jewelry sectors. The analysis from Luxurynsight and Traackr covers notable trends, brand activations, influencer performance, and consumer behaviors through 2023.
The detailed report analyzes initiatives from 58 leading luxury houses, encompassing 3,102 product launches, 2,361 communication campaigns, and 463 retail activations worldwide in 2023. Its findings offer insights into strategies, consumer behaviors, and marketing best practices for brands navigating the expanding luxury landscape.
The first segment the companies analyzed was activations. According to the research, the total number of brand activations decreased slightly by 3% compared to 2022, with 5,926 initiatives recorded.
Fashion & Leather Goods accounted for 41% of activations, Perfume & Cosmetics 33%, and Watches and Jewelry 26%. However, the distribution among product, communication, and retail activations shifted moderately year-over-year.
Within the global luxury fashion market, the analysis identifies several emerging themes. Industry segment-wise, designer collaborations with famous athletes became an increasingly prevalent marketing tactic for Fashion & Leather Goods, leveraging their global appeal and authenticity.
Another key takeaway is the China reopening in 2023. After pandemic restrictions ended, luxury brands ramped up retail expansions, pop-up stores, and China-exclusive product launches to court the nation’s consumer market.
Perfume & Cosmetics witnessed a 133% surge in immersive experiences like exhibitions and light shows. Brands doubled down on artist collaborations and limited-edition products to attract younger buyers. Retail and event activations in China jumped significantly as well. The report also highlights growing interest in beauty technologies like AI-powered virtual makeup tools.
For luxury Watches and Jewelry, industry events and product collaborations with pop culture figures gained popularity as avenues to raise brand awareness. Luxury jewelry brands embraced the burgeoning market for lab-grown diamonds as a more affordable, sustainable option. Singapore emerged as a new regional hub, hosting 36% more brand activations than the prior year.
Influencer marketing intelligence reveals macro-influencers with 250,000 to 1 million followers accounted for an increasing share of voice across the luxury sectors in 2023. These mid-tier creators saw notable gains in share of influence, unlike mega influencers with over 1 million followers and VIP influencers with over 5 million followers whose shares diminished year-over-year.
The data indicates brands may be shifting investment towards mid-level creators who can drive stronger engagement rates on platforms like Instagram and TikTok among their sizeable yet more niche audiences.
Cecilia Carloni, Interview Manager at Influence Weekly and writer for NetInfluencer. Coming from beautiful Argentina, Ceci has spent years chatting with big names in the influencer world, making friends and learning insider info along the way. When she’s not deep in interviews or writing, she's enjoying life with her two daughters. Ceci’s stories give a peek behind the curtain of influencer life, sharing the real and interesting tales from her many conversations with movers and shakers in the space.
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The newly released report titled “Global Luxury Brands Analysis 2023” examines the current state of the global luxury brand market across the fashion, beauty, and watches and jewelry sectors. The analysis from Luxurynsight and Traackr covers notable trends, brand activations, influencer performance, and consumer behaviors through 2023.
The detailed report analyzes initiatives from 58 leading luxury houses, encompassing 3,102 product launches, 2,361 communication campaigns, and 463 retail activations worldwide in 2023. Its findings offer insights into strategies, consumer behaviors, and marketing best practices for brands navigating the expanding luxury landscape.
The first segment the companies analyzed was activations. According to the research, the total number of brand activations decreased slightly by 3% compared to 2022, with 5,926 initiatives recorded.
Fashion & Leather Goods accounted for 41% of activations, Perfume & Cosmetics 33%, and Watches and Jewelry 26%. However, the distribution among product, communication, and retail activations shifted moderately year-over-year.
Within the global luxury fashion market, the analysis identifies several emerging themes. Industry segment-wise, designer collaborations with famous athletes became an increasingly prevalent marketing tactic for Fashion & Leather Goods, leveraging their global appeal and authenticity.
Another key takeaway is the China reopening in 2023. After pandemic restrictions ended, luxury brands ramped up retail expansions, pop-up stores, and China-exclusive product launches to court the nation’s consumer market.
Perfume & Cosmetics witnessed a 133% surge in immersive experiences like exhibitions and light shows. Brands doubled down on artist collaborations and limited-edition products to attract younger buyers. Retail and event activations in China jumped significantly as well. The report also highlights growing interest in beauty technologies like AI-powered virtual makeup tools.
For luxury Watches and Jewelry, industry events and product collaborations with pop culture figures gained popularity as avenues to raise brand awareness. Luxury jewelry brands embraced the burgeoning market for lab-grown diamonds as a more affordable, sustainable option. Singapore emerged as a new regional hub, hosting 36% more brand activations than the prior year.
Influencer marketing intelligence reveals macro-influencers with 250,000 to 1 million followers accounted for an increasing share of voice across the luxury sectors in 2023. These mid-tier creators saw notable gains in share of influence, unlike mega influencers with over 1 million followers and VIP influencers with over 5 million followers whose shares diminished year-over-year.
The data indicates brands may be shifting investment towards mid-level creators who can drive stronger engagement rates on platforms like Instagram and TikTok among their sizeable yet more niche audiences.
Details on the full report can be found here.