Marketing

Business • Media & Advertising
In Possible New Marketing Trend, Luxury Fashion Brand Bottega Veneta Shuts Down Its Social Media Accounts
In Possible New Marketing Trend, Luxury Fashion Brand Bottega Veneta Shuts Down Its Social Media Accounts
Credit: Screenshot Bottega Veneta

Earlier this week, Kering-owned luxury fashion brand Bottega Veneta closed down its Instagram, Facebook and Twitter accounts without warning and with no explanation. It is unclear whether this is a mere marketing stunt or whether Bottega Veneta's decision may be a bellwether for an emerging trend.

Social media doesn’t work to attract the right people to a luxury brand, according to an analysis of a luxury insiders’ survey among some 500 executives working in or supporting the luxury industry.

“We have not found any marketing tool that produces leads qualified for our luxury products and service,” was among the comments in that survey. And another said, “So far nothing is working. Social media is seeing no actual move to act.”

Two possible reasons are currently discussed publically:

  • Social media is mass, not class. Luxury does not fit in the hodgepodge of divergent messages that is social media.
  • People who can actually afford luxury brands are over-marketed to and not likely to pay attention to the brand's social media posts. Bombarding them with irrelevant posts on social media is not how to be respectful of them and personalize every interaction.

GQ’s Rachel Tashjain speculated: “Perhaps the Bottega deletion is the ultimate act of stealth luxury – it will now be a brand that travels strictly by word of mouth.”

Business • Consumer & Service
Ikea to end publication of its catalogue after 70 years due to shift to online browsing
Ikea to end publication of its catalogue after 70 years due to shift to online browsing
Credit: unsplash/billow926

Ikea announced the end of the publication of its annual catalogue after 70 years due to an increasing shift to online browsing and shopping.

Konrad Grüss, an Ikea executive, said in a statement that the company has "taken the emotional but rational decision to respectfully end the successful career" of both the print and digital versions of the catalogue and that "turning the page with our beloved catalog is in fact a natural process since media consumption and customer behaviors have changed".

Ikea will release a smaller catalogue next year that will be "filled with great home furnishing inspiration and knowledge" to celebrates the catalogue's history.