According to a study conducted by Google and Kantar, videos have become a crucial part of the luxury consumer journey, especially in light of the COVID-19 pandemic. The study included 4,500 participants from seven countries and revealed that 93% of luxury shoppers conduct online research before making a purchase. This research involves offline searches as well as the use of mobile devices. Therefore, it is imperative for luxury brands to establish a strong online presence across various platforms.

The study identified seven key moments in the online consumer journey. These moments include finding a brand that aligns with the shopper’s preferences, gaining inspiration, personalizing the search for the right product, analyzing product details, considering social proof and recommendations, evaluating both online and physical purchasing options, and finally, the purchasing experience. At each step of this journey, the brand’s website emerged as the most crucial touchpoint for consumers. Thus, brands need to invest in their websites and digital presence.

Videos play a significant role in the luxury consumer journey, with 55% of participants stating that online videos are an important source of information. Trusted sources of information mentioned by consumers include product reviews, video advertising, tutorials, and digital fashion shows. Moreover, 60% of shoppers under 29 years old watch videos online before making a purchase.

When it comes to luxury purchases, brand image ranked highest in importance, followed by the reputation of the designer, craftsmanship, and product quality. The study also revealed that 56% of luxury consumers stick to a small selection of brands, with 25% showing loyalty to a single brand. This loyalty is particularly strong in the United States.

Different age groups and markets prioritize different aspects of luxury purchases. Older consumers prioritize excellence and elegance, whereas younger consumers are more interested in personalization, limited-edition products, and the values of the brand. Luxury brands should not overlook the importance of older consumers, as they often have greater purchasing power and different priorities.

The study emphasizes the significance of brands showcasing their sustainable commitments in their product manufacturing processes. It also encourages luxury brands to strike a balance between brand positioning and adaptability. Brands must cater to the diverse needs of consumers and utilize videos as a search tool and a source of inspiration.

In conclusion, the study highlights the crucial role of videos in the luxury consumer journey. Luxury brands need to comprehend the various stages of this journey and establish a robust online presence to meet consumer expectations. By prioritizing brand image, craftsmanship, and quality, luxury brands can appeal to consumers and foster loyalty. It is vital for brands to adapt to different consumer profiles and find a balance between their positioning and flexibility in the online space.

Useful links:
1. Google
2. YouTube