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The Role of Social Media in the Purchase of Luxury Goods – Taking Louis Vuitton as an Example

In: Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023)

Author

Listed:
  • Jiayi Xiao

    (Durham University, Accounting and Finance)

Abstract

This research essay explores social media’s role in purchasing luxury products by focusing on Louis Vuitton (LV) as a case study. The essay reviews relevant literature on luxury marketing and new media, discussing LV’s historical development and brand message as a leading luxury brand. Then this research delves into the impact of social media on LV’s marketing strategy, analyzing how social media platforms like Instagram, Facebook, and Twitter have allowed LV to reach a wider audience and influence consumer behavior. Additionally, the essay examines the role of social media in creating brand loyalty and the impact of social media on pricing and distribution. It concludes with crucial insights and recommendations, highlighting the need for LV to adapt and leverage social media while being vigilant of the risks that come with it. This essay provides valuable insights into the role of social media in luxury marketing and its impact on a leading luxury brand like Louis Vuitton.

Suggested Citation

  • Jiayi Xiao, 2024. "The Role of Social Media in the Purchase of Luxury Goods – Taking Louis Vuitton as an Example," Advances in Economics, Business and Management Research, in: Shehnaz Tehseen & Mohd Naseem Niaz Ahmad & Rafia Afroz (ed.), Proceedings of the 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023), pages 213-220, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-246-0_26
    DOI: 10.2991/978-94-6463-246-0_26
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