Social media has played a massive role in increasing the reach of millions of people globally. With the rise of internet users using Facebook, Twitter, Pinterest, Whatsapp, Instagram, LinkedIn, and many other social media platforms across the globe, it has become imperative for fashion merchants to tap that opportunity wisely. If the fashion merchants successfully use social media marketing strategies, it will increase their profitability manifolds.
As per Nosto's global analysis and study on this subject, Instagram and Pinterest turned out to be the most sought-after mobile platforms for netizens. Nosto used artificial intelligence (AI) and complex algorithms to derive the results that the average order value (AOV) for both of these platforms was highest among all the platforms.
Since the mobile traffic and orders based on the last click for online fashion merchants is highest on these two platforms, the e-tailers should post more posts on these platforms. These social media marketing strategies became a global trend and all e-tailers are following it now.
The AOV on Pinterest is $154 for the paid memberships and $68 for the unpaid memberships. On Instagram, the paid members purchased fashion items worth $103 per transaction on average. The same value was $65 for unpaid members.
As per the study done by Mariama Manneh of the University of Gavle on “'The Influence of Social Media on Ecommerce: Fast Fashion Multinational Companies,” Instagram turned out to be the most popular platform among all age groups.
This study also emphasized that fashion connoisseurs are rapidly moving to web platforms with the evolution of electronic commerce. It gives them the ease to compare and choose between multiple brands, styles, price points from the convenience of their homes or while on the go. Hence, even as per this study a social media marketing strategy is beneficial for fashion merchants who want to interact with more fashion enthusiasts.
In this study, the researcher collected data from the brand managers and social media managers of e-commerce portals BikBok, River Island, Monki, and Vero Moda.
According to the sales managers of BikBok, the fashion brand uses Instagram, Facebook, and Snapchat to promote its sales through social media platforms. However, as per the data received from the social media managers, Instagram is the most valuable social media platform for this fashion merchant as most of the online sales happen through this platform. Their data is based on customer engagement and conversion through these social media platforms for the last three years.
River Island uses Facebook, Instagram, and their main company‘s website to attract new customers and use them for word of mouth to spread awareness among their social media circle. This fashion merchant also uses many social media marketing strategies to market and promote their latest trends and to keep in touch with their existing customers.
According to the respondents of this fashion e-tailer, Instagram is the most valuable social media channel for them. This data is collected based on their observation for five to six years.
Fashion merchant Monki has been using social media for up to 3 years, where they have Instagram, Facebook, and YouTube accounts. Their YouTube account receives a lot of engagement and likes from the users as they can check the latest collections and how they appear on a video. Even for Monki, the most valuable social media platform is Instagram.
The respondents of Vero Moda mentioned that an effective social media marketing strategy is vital for their e-commerce sales as it is free of charge for the company. They like to have direct contact with the customers, promote and reward their followers, and get to know the company’s target market.
They don’t think social media is the best marketing tool for the company as most of their customers are influenced by the TV commercials that the company does. Most of the sales happen at the store as a result of those commercials. However, the marketing team feels that a social media marketing strategy has significantly increased sales figures. They use their Instagram and Facebook accounts to advertise their products and they have been doing it for more than two to three years now.
Since this study was restricted to the fashion brands based in Europe, the scope of the study was limited to one demography.
Most of the social media managers across the globe depend on the data produced by Datareportal. The digital trends are picking up with each passing day. While the world population stood at 7.83 billion at the beginning of 2021, 5.22 billion of them use mobile phones. Hence since 66.6% of the total world population uses mobile phones, and with the increase of smartphone technologies and the ease of procuring them, the world population is moving in that direction.
As per the statistics collected by this website in January 2021, 4.66 billion people around the world use the internet, which accounts for 59.5% of the world population. Social media marketing strategies are gaining popularity in the ecommerce world for all industries. Consumer durables, apparel, electronics, FMCG, fashion accessories, leather, and all the other portals selling products online are depending heavily on social media advertisements.
It is easier for the brands to engage with the customers in the virtual world and understand their tastes and mood. The feedback provided by them here is free from all the stress of being judged as they are the kings here. The companies need to use data analytics to gather all this feedback and churn them into usable information which impacts the top line of their balance sheet.
Since social media platforms play a huge role in influencing the buying decisions of fashion enthusiasts, every company should focus on creating more marketing campaigns based on them. It is absolutely free of cost and with the help of fashion influencers, popular YouTubers, the companies can definitely look at a constant revenue source. Instagram and Pinterest globally seem to be the most popular channels for fashion advertising. However, fashion merchants should not ignore the appeal of Facebook, Snapchat, and other channels.
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