Social Media Marketing in Luxury Retail
This study examines the potentials of social media marketing for luxury retailers. Social media marketing tactics of three luxury retail brands (Barneys New York, Net-a-Porter.com, and Saks Fifth Avenue) were examined across three major social media sites (Facebook, Twitter and Instagram). All posts by the three retailers' posts on Facebook, Twitter and Instagram were recorded on over the course of a week. A content analysis revealed that different social media networks may be effectively used in different ways by luxury retailers. Facebook allows for the greatest connection with consumers (all three retailers had the most followers on Facebook) while Twitter allows for the largest volume of posts; consumer feedback was highest on Instagram. Overall, social media marketing proved an effective, low-cost tool for the three retailers, with payoff well justifying the effort. For example, all three retailers had over 1,200 shares and retweets on Facebook and Twitter.