The Global Fashion Influencer Marketing Market size is expected to reach $9. 2 billion by 2026, rising at a market growth of 38. 5% CAGR during the forecast period. Influencer marketing is a kind of social media marketing that utilizes endorsements and product mentions from influencers, who have a huge dedicated social following and are considered experts in their own domain.
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Fashion Influencer Marketing Market By Fashion Type, By Influencer Type, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05999866/?utm_source=GNW
The major reason why influencer marketing work, is because of the huge amount of trust that social influencers have built up with their followings and the recommendations from them helped brands to use it as social proof to their potential customers.
Fashion brands are adopting influencer marketing strategies to maximize their reach and capture a larger audience. Technological interruption in advertising practices and marketing strategies have supported companies to invest more efficiently in the marketing campaigns and receive a higher return on investment (ROI). Influencer marketing allowed fashion brands to boost their reach and promote their products in the most effective and innovative ways to relate to brand values. The increasing use of social media platforms, all around the world, is adding to the increasing benefits of influencer marketing for fashion brands. This aspect is estimated to further fuel the expansion of the market in the nearby future.
By Fashion Type
Based on Fashion Type, the market is segmented into Beauty & Cosmetics, Jewelry & Accessories and Apparel. The cosmetics and beauty category dominated the market in 2019. This attributed to the increasing focus of beauty and cosmetics companies on using social media platforms in extracting a positive brand image and increase sales. The chosen cosmetics often influenced by personal preference type of skin and skin tone, because of this, people rely more on influencers to provide the right advice through promotional videos or makeup tutorials.
By Influencer Type
Based on Influencer Type, the market is segmented into Nanoinfluencers, Microinfluencers, Macroinfluencers, and Megainfluencers. The nano influencer category made a revenue share in 2019. This attributed to a higher engagement rate and the ability to connect with niche audiences, hence offering brands a chance of penetrating the market effectively than before. Nano influencers also have more packed communities with their audiences and guarantee less risk of engaging with fake followers, which provides more filtered leads for companies.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America leads the market for fashion influencer marketing. This can be attributed to the increasing use of social media platforms and high-speed internet in the area. A significant revenue share in 2019 is captured by Europe, which can be attributed to the presence of many major luxury fashion brands like Yves Saint Laurent SAS, Christian Dior SE, and Chanel in the particular area.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IZEA Worldwide, Inc., Launchmetrics, Inc., Klear, Upfluence, Inc., AspireIQ, Inc., Mavrck, InfluencerDB Tech GmbH & Co. KG, Speakr, Inc., Juliusworks, Inc. (Hypr Brands) and Socially Powerful.
Strategies deployed in Fashion Influencer Marketing Market
Nov-2020: Launchmetrics announced the acquisition of Parklu, a leading analytics platform from China. The acquisition enabled Launchmetrics to add a new layer to its brand performance cloud, being the only genuine global service provider for the fashion, luxury, and beauty industries.
Nov-2020: AspireIQ introduced Unlimited Analytics, a free-to-use solution. This solution enables different brands to estimate influencer marketing performance by recording campaign metrics in a centralized dashboard.
Feb- 2020: AspireIQ launched Pinterest Influencer Search, a solution that creates opportunities for brands focused on influencer marketing on Pinterest.
Jul-2019: Launchmetrics introduced its new brand decisioning platform for decision-makers and C-level executives. The platform aimed to maximize the impact of brand and measures the evolution of their brand equity against competition.
Jul-2019: AspireIQ announced the launch of Brand Access Manager, the first solution. It enables brands to smoothly change branded content into paid advertisements on Instagram and Facebook. With the help of Brand Access Manager, brands could get a higher return on investment (ROI) and lower cost per action (CPA) through more genuine, customized original content.
Apr-2019: Julius partnered with Pinterest. The partnership enabled Julius subscribers to minorly changed influencer performance metrics. These metrics provide influencer and consumer insights to marketers to guide future marketing strategies in a better way and enhances campaign outcomes.
Jan-2019: IZEA Worldwide unveiled a new platform, the IZEAx Discovery. With the help of this platform, marketers can access search influencer profiles and VizSearch, IZEA’s unique content discovery engine.
Oct-2018: Klear announced its collaboration with Hootsuite, the most popular social media management solution in the world. The two companies together will give a complete set of tools to enterprise brands which are necessary for supervising their social media marketing efforts.
Jul-2018: IZEA, Inc. completed the acquisition of TapInfluence, Inc. (TapInfluence), a leading platform and online marketplace for brands and agencies to execute influencer marketing campaigns. The acquisition broadened IZEA’s software as a service customer base and delivered additional technology capabilities.
Nov-2017: Launchmetrics announced the acquisition of Style Coalitio. With this acquisition, Launchmetrics became a one-stop solution for influencers and brands to monitor the digital reach of campaigns.
Scope of the Study
Market Segments Covered in the Report:
By Fashion Type
• Beauty & Cosmetics
• Jewelry & Accessories
By Influencer Type
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IZEA Worldwide, Inc.
• Launchmetrics, Inc.
• Upfluence, Inc.
• AspireIQ, Inc.
• InfluencerDB Tech GmbH & Co. KG
• Speakr, Inc.
• Juliusworks, Inc. (Hypr Brands)
• Socially Powerful
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p05999866/?utm_source=GNW
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