Fashion companies to increase investments in online marketing
More consumers than ever are buying fashion on the Internet. The online sales volume is expected to exceed 25 percent by 2020. Online brands currently account for 20 percent of the total retail volume of the brands surveyed.
Accordingly, the marketing budget of companies is increasingly shifting to the online area, as manifested by the joint study “Dressed for Digital: The Next Evolution in Fashion Marketing” conducted by the strategy consultancy Boston Consulting Group (BCG) and Zalando Marketing Services (ZMS). 90 global fashion brands were surveyed within the scope of this study. With 43 percent, the media budget (online area) was found to be the largest individual item overall.
Today, an average of over 60 percent of this budget pot is already being spent online. The means mainly used for advertising measures are paid social media, search engine optimization and retail media.