Mark Ritson highlights how luxury brands including Chanel, Gucci, Louis Vuitton and Bulgari have been slow to embrace e-commerce, but are now starting to take the idea seriously.
Burberry, which has 2 million fans on Facebook, now has an iPad app allowing customers to order products well ahead of their local launch, while Bulgari uses YouTube and Twitter.
Ritson says luxury brands like to break rules in terms of fashion, but it has taken time for them innovate in their business strategies.
Source: AFR, Nov 2010
Interestingly, Ritson also suggests that Social Media is for People, not Brands. He points out that Peter Andre has more followers on Twitter than the top 20 British brands combined.
What do you think? How has social media helped with your own branding experience?
For more on Mark Ritson's experience with brands and marketing, download his podcast here.
Follow his yellow brick Tweets, for regular shots of branding knowledge.
Finally, if all this doesn't make you want to see the man in action, have a look at what you can learn from his Executive Series session, Brand Management.
Jody Evans’ current projects examine issues including branding and retail strategy in the museum sector and a resource-based view of retail competitive advantage and performance.
In January 2010, Jody Evans wrote the following, in Shopping in the Silly Season
"This time last year retailers put the tinsel out, pumped up Jingle Bells, gave everyone free tastings of Christmas cake then sat back and listened to the ch-ching of their cash registers.
Now they are having to do all that, plus deep discounting and a lot more, much sooner in the year to make up for slow sales during the year.
From a shopper's perspective this is all good news.
We used to expect great sales after Christmas. This year, there are great sales right now.
They are part of the department store strategies being used to motivate us to buy now and to reduce our value seeking behaviour of shopping around-a behaviour that's been carefully honed in the past 12 months by the global financial crisis."
To read more visit MBS News
Share your thoughts on how you think this will compare in January 2011?
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