A Study of the Influence of New Media on Luxury Marketing Strategy

Abstract

The overall purchasing power of people in contemporary society has been steadily increasing in recent years because of the steadily increasing social wealth accumulation and the progressive improvement of the global economy's comprehensive capability. People are now consuming and sharing information in a new way because of the advent of social media and other mobile technologies. An increasing number of luxury businesses are updating their traditional marketing strategies and entering the online sales arena to adapt to the new media landscape. For the brand to achieve its goal of serving a wider range of consumer groups, it bids adieu to the upper echelons of the consumption chain, takes the initiative to approach customer direction, and allows consumers to have a deeper understanding and involvement. This paper elucidates the impact of new media on the diffusion of brand emotional value and the enhancement of customer connection in the luxury market through an analysis of the evolution and development of luxury marketing tactics within the context. This paper concludes that the development and expansion of the luxury market are significantly aided by new media, which is indispensable.