Most popular luxury brands on social media worldwide, by social media audience 2022

Based on the combined number of followers on their Facebook, Instagram, Twitter, and YouTube pages as of April 2021, Chanel was the most popular luxury brand on social media worldwide, with an audience of 89.1 million subscribers. Chanel was followed by Gucci, which had over 78 million followers on social media platforms.

The state of online luxury retail

  The value of online luxury goods retail had a continuous increase throughout the last decade and saw an increase of approximately 50 percent in 2020 compared to 2019. As of 2020, the online sales channel had roughly a quarter share of the entire luxury goods market sales worldwide. In the same year, the market share of online luxury goods retail accounted for a global sales value of about 50 billion euros. Even though the luxury goods market offers a wide selection of items, shoppers seem to be mostly purchasing accessories and apparel online.

The future of the luxury market

  Although COVID-19 pandemic took its toll on it, the global luxury goods market still is a multi-billion-euro industry. According to the forecasts, the market is expected to rebound and will show positive growth over the next five years. However, it is yet to be seen how the post-pandemic world will affect luxury goods consumption.