The Covid-19 crisis has significantly impacted various aspects of society, including the use of social media. Morin Oluwole, Global Head of Luxury at Facebook, sheds light on these changes, particularly in the luxury sector, at the Salon du Luxe Paris 2020 event. In his speech, Oluwole reveals new behaviors, tools, and experiences that have emerged during this time.
One of the notable consequences of the lockdown measures is the surge in digital activity. The Facebook group, which now includes platforms like Messenger, Whatsapp, and Instagram, sees a staggering 3 billion monthly users. During the crisis, the use of Messenger calls has doubled, emphasizing the increasing reliance on digital communication.
This digital acceleration is especially critical in the luxury industry, where brands have had to swiftly adapt their strategies. Oluwole highlights the impressive level of solidarity demonstrated by luxury houses and their need to transform their e-commerce approaches due to the 40% surge in luxury transactions.
While the focus is on digital, Oluwole emphasizes the importance of providing added value. Facebook aims to foster complementarity between different experiences through various tools. One of these tools is the Shops feature, which creates customized stores on Facebook and Instagram, enabling direct purchases through social networks. Oluwole also applauds the luxury sector for its continuous adaptation, citing the experiential innovations seen in the beauty industry.
Recognizing the power of omnichannel, Oluwole stresses the need to provide a seamless experience for consumers. He highlights the importance of transforming online experiences into physical stores as businesses reopen. Complementarity between the digital and physical realms is key to success.
Another notable shift is the growing importance of live videos. With social distancing measures in place, live videos have become crucial for brand digitalization. Consumers have shown a strong interest in this form of content, with a 50% increase in the number of people watching live videos since the start of the crisis. Brands have leveraged this trend by offering live store tours, launching new products, and digitalizing events and fashion shows.
In terms of innovation during the crisis, Oluwole highlights the introduction of donation stickers and gift cards by the Facebook group. These agile measures have helped businesses navigate the challenging landscape. Oluwole also identifies certain luxury brands that have excelled on social platforms.
To learn more about Oluwole’s speech and the insights shared by 55 speakers at Salon du Luxe Paris, access the event’s platform for the entirety of their speeches.
Useful links:
– Facebook – Commerce For Good
– Facebook – Gift Cards
