The increasing use of several social media apps such as Instagram and TikTok Reels is expected to grow the Global Fashion Influencer Marketing Market.
The global Fashion Influencer market is expected to develop $33.20 billion by 2030, at a compound annual increase in price (CAGR) of 38.2% throughout the forecast period.
Covid-19 Impact & Market Status
The epidemic has caused havoc in the influencer marketing sector. However, it is not time to throw away the rulebook because the majority of the changes are just accelerations of pre-existing patterns rather than market-changing upheavals. The epidemic has now accelerated trends that were already taking place, including the move toward "unfiltered" or less-scripted video, the emergence of TikTok, and the appeal of "ordinary influencers." Industries like finance, which had not previously invested substantially in the strategy, are also learning to navigate the sector. As e-commerce and social media merge, influencers will become more important intermediates, assisting firms in connecting with customers on social media is a highly resonant, real way that can give quick returns.
The Cosmetics and Beauty Segment is Anticipated for the Significant Growth in the Predicted Timeframe
In 2020, the cosmetics and beauty segment dominated the market. This is due to the increased emphasis of beauty and cosmetics firms on leveraging social media channels to create a good brand image and enhance sales. People rely increasingly on influencers to offer the proper guidance through promotional videos or beauty tutorials because their choice of cosmetics is often impacted by personal preference, kind of skin, and skin tone.
Nano Influence Segment will Hold Majority of the Market in the Coming Future
In 2020, the Nano influencer segment generated the highest revenue in the last few years. This resulted in a greater engagement rate and the capacity to interact with specific demographics, giving companies a better opportunity to effectively access the market than before. Nano influencers also have more dense networks with their viewers and minimize the danger of engaging with false followers, resulting in more filtered leads for businesses.
North America Market is projected to be a Maximum Growth Rate in the Future
This might be related to the area's increasing usage of social media platforms and high-speed internet. In 2019, Europe had a high revenue share, which may be due to the presence of several renowned luxury fashion brands in the area, such as Yves Saint Laurent SAS, Christian Dior SE, and Chanel.
Owing to the capacity to capture greater engagement rates, the growing popularity of fashion influencer marketing presents exciting development prospects to the industry.
Fashion influencer marketing is a type of social media marketing that basically focuses on product endorsements and mentions from influencers that have a significant dedicated social following and recognized experts in their professions. The main reason why influencer marketing works is due to the high level of trust that social influencers have earned with their recommendations and their followers from them, allowing them to utilize it as social proof to their potential clients.
Influencer marketing methods are being implemented by fashion firms in order to increase their reach and gain a broader audience. Because of technological disruptions in advertising techniques and marketing methods, businesses have been able to invest more effectively in marketing campaigns and earn a greater ROI (return on investment). Influencer marketing enabled fashion firms to broaden their reach and promote their goods in the most effective and inventive methods possible in order to connect with brand values. The increased usage of social media platforms throughout the world contributes to the expanding benefits of influencer marketing for fashion companies. This factor is expected to propel the fashion influence marketing market's rise in the near future.
These apps enable users to create shorter, more engaging films. Short video apps assist fashion influencers in adding additional effects to their films, assisting in content production and ensuring increased customer engagement. TikTok also released an analytics tool for Pro accounts in October 2019 to provide more specific insights into the success of content and audience interaction, allowing fashion influencers to produce material that is in step with the expectations of their fans.
The fashion influencer marketing seeks important opinion leaders and influencers with strong engagement rates and nurtures them to create content that aligns with a company's brand value. These influencers become part of the brand, assisting marketers in marketing their products to a known and devoted audience. Companies like Tmall.com have begun to use influencer incubation solutions to enhance sales for product categories such as cosmetics and clothes, providing market development opportunities.
The convergence of social media apps as well as e-commerce is also expected to boost the Global Fashion Influencer Marketing Market growth. This can be ascribed to social media platforms' digital payment functionality and their shift to 'retailtainment' sites. In China, live-streaming services such as Little Red Book and Taobao Live have begun to live-streaming, leverage social networking, and video capabilities to encourage users to discuss, communicate, and participate more effectively. Such advancements are also expected to allow fashion influencers to successfully sell their items and companies in order to cultivate meaningful relationships with their fans.
This study is being carried out to assist firms in capitalizing on and planning for potential future growth prospects. The prominent competitors operating in the Global Fashion Influencer Marketing Market are Klear, Upfluence, Inc., Launchmetrics, Inc., Juliusworks, Inc., IZEA Worldwide, Inc., AspireIQ, Inc., InfluencerDB Tech GmbH & Co. KG, Mavrck, Speakr, Inc., (Hypr Brands), and Socially Powerful.
Latest Innovations in the Global Fashion Influencer Marketing Market: a Snapshot
- In November 2020, Launchmetrics declared the acquirement of Parklu, a major analytics platform, China. As the only authentic worldwide service provider for the fashion, luxury, and beauty sectors, the purchase enables Launchmetrics to add a new layer to its brand performance cloud.
- In November 2020, AspireIQ announced Unlimited Analytics, a free-to-use product. By capturing campaign information in a unified dashboard, this system allows diverse businesses to estimate influencer marketing performance.
- In February 2020, AspireIQ released Pinterest Influencer Search, a service that generates chances for companies interested in influencer marketing on Pinterest.
The purpose of this market research inquiry is to give reliable information on the Global Fashion Influencer Marketing Market. The research decodes complicated data and illustrates the industry's present and historical status, as well as predicted market trends and size. The research looks at market leaders, investors, customers, and new entrants from various industries.
Fashion Influencer Market Scope
|Revenue forecast in 2030
|$ 33.20 billion
|CAGR of 38.2% during 2020-2030
|By Component, By Service, By Organization Size, By End-user, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Buzzoole,ScrunchSocial Beat Digital Marketing LLP,ONALYTICA,HYPR,Launchmetrics,Traackr,IZEA,JuliusWorks Inc.,Upfluence,Mavrck,Klear,AspireIQ,Lumanu Inc.
Key Segments of the Global Fashion Influencer Marketing Market
Fashion Influencer Marketing Influencer Type Overview (USD Billion)
Fashion Influencer Marketing Fashion Type Overview (USD Billion)
- Beauty & Cosmetics
- Jewelry & Accessories
Regional Overview (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa