International Growth of Luxury Brands – Considerations for Expansion Through Digital Platforms, Allowing for Cultural Variances
SPARC 2022 Poster Number 11
The environment and world we live in today is ever changing and has accelerated more so in the last two years. Retailers and brands across the globe have seen many changes to their industry. Whether this is a decline or increase in sales, or growth and expansion of their business. The footprint of brands nowadays is displayed through stores, websites and social media, which gives brands the opportunity to promote themselves through different platforms and within new and different territories. Luxury brands have created an identity through their branding, heritage and marketing. How they are perceived by others is reflective of this, and although can take years to build an identity, this can just as easily change. Digital platforms, such as social media allow for a wide audience and varying demographics to be targeted when growing brand presence or awareness. With such a vast platform demographically and geographically, cultural variances are a big consideration when reviewing what brands should promote on these digital platforms, although still maintaining their brand identity. These variances can range from meaning and connections to colours, way of life and practicality of brands products or general trends and styles within countries. For luxury brands to grow internationally there are many considerations, mainly different cultures. Brands have to move forward with the changes around us, as well as maintain who they are and what they represent. Qualitative research will be conducted to understand perceptions of luxury brands within the current market and participants views on variances of different digital platforms, cultures and projection of marketing. This research will allow brands to explore and understand how best to move into new markets and expand internationally.