Global Fashion Influencer Marketing Market

Fashion Influencer Marketing Market: Insights

Fashion influencer marketing refers to marketing carried out by individuals who have a large number of followers on social media. These influencers are largely content creators of fashion content and have the ability to influence the opinions and purchase behaviors of individuals who follow the influencers. These influencers have a large following and their ability to influence the purchasing behavior of individuals is useful to fashion brands. Fashion brands are increasingly turning to such influencers to increase their reach in the market. The large following of influencers enables fashion brands to increase awareness of their products among the followers by having the influencers use their products. Social media and technological advancements have disrupted the existing markets of fashion through which fashion brands were initially marketing in. This has caused fashion brands to find new avenues to advertise their products and adopt new marketing strategies. By investing in fashion influencers, fashion brands are beginning to realize a higher return on investment and get more efficient marketing campaigns. By using influencers, fashion brands can increase their renown and reach among the public and market their products in more innovative ways that relate to the values of the brand. The growing use of social media has increased the reach of fashion influencers and is expected to increase the demand for fashion influencer marketing among fashion brands. With a sizeable number of existing internet users and more importantly social media users in developed nations, fashion influencers have a large reach. With internet charges falling in various countries like India, the number of internet users and thereby social media users are expected to increase. High penetration of social media sites like Facebook and Instagram among millennials has encouraged fashion brands to adopt fashion influencer marketing strategies to adapt and take advantage of new market avenues. Instagram is extremely popular among millennials and influencers are turning to Instagram to market fashion brands. Fashion influencers allow fashion brands to market their products to a targeted group that is responsive to their products. Influencers allow fashion brands to identify the needs and opinions of their customers. Influencers interact with their followers through polls, comments, and direct messages which can help influencers understand the needs of the users which can be conveyed to fashion brands. The use of social search engines and social search optimization is also expected to further positively impact the fashion influencer marketing market. Fashion brands can build a presence on various social media sites like Facebook, Twitter, Instagram, among other sites. Social search engines and social search optimization helps users to optimize the content on social media sites to show posts, photos, and other content that are more relevant to the users. This allows influencers to promote products of the fashion brands. By optimizing their content, users can attain better insights into the products and allow them to view various influencers and fashion brands that are more to their taste.

Fashion Influencer Marketing Market: By Influencer Type

Based on the type of influencers, the fashion influencer marketing market can be segmented as mega influencers, macro-influencers, micro-influencers, nano influencers. The nano influencers segment is expected to hold the dominant share of the market during the forecast period. Nano influencers have higher engagement numbers with their followers and allow fashion brands to interact with a more niche market. This allows brands to have better penetration to markets and be more efficient with their marketing strategies. Nano influencers have followers and audiences who are more tightly knit and reduces the risks of having fake followers. This gives fashion brands a better understanding of the needs and wants of users. The micro-influencers are expected to register the fastest growth rate during the forecast period. Micro-influencers have greater flexibility and have greater followers than nano influencers. The greater number of followers allows fashion brands to better study the demographics of the users of their products. This allows them to design and create better content and products. By marketing through fashion influencers, fashion brands can improve their image among users and develop good relations with the customers.

Fashion Influencer Marketing Market: By Fashion Type

Based on the fashion type, the fashion influencer marketing market can be segmented into beauty & cosmetics, apparel, and jewelry & accessories. The beauty & cosmetics segment is expected to hold the dominant share of the market. Fashion brands of cosmetic and beauty products are turning to social media to get positive brand associations and thereby expand their sales. The choice of skincare products is influenced by personal preference, skin type, and tone. Followers of influencers can better understand the products and rely on the promotional videos and instructional videos put up by influencers. The apparel segment is expected to grow at the fastest rate during the forecast period. Fashion influencers wear the fashion brand they endorse in their content like photos, videos, and tutorials which influences the purchasing behavior of their followers. Fashion influencers create new trends and use hashtags to further increase the trend. Fashion brands can keep track of hashtags to study the impact and awareness of their products among social media users.

Fashion Influencer Marketing Market: By Region

The North American region is expected to hold the dominant share of the market during the forecast period. High usage of social media in the region combined with the availability of high-speed internet in the region has resulted in the dominance of this region over the fashion influencer marketing market. A good chunk of users in North America falls under the 18 to 34 age group which allows fashion brands greater visibility among their target audience. The APAC region is expected to register the fastest rate among all regions during the forecast period. The presence of many big fashion brands in APAC combined with the multiple fashion weeks that occur in the region is expected to increase the demand for fashion influencer marketing in the region.

Fashion Influencer Marketing Market: Share & Competitor Analysis

IZEA, InfluencerDB, Klear, Mavrck, Launchmetrics, among others, are the major vendors competing in the fashion influencer marketing market.

Please note: This is not an exhaustive list of companies profiled in the report.