The Fashion Influencer Marketing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fashion Influencer Marketing Global Market Report 2024, The fashion influencer marketing market size has grown exponentially in recent years. It will grow from $4.55 billion in 2023 to $6.17 billion in 2024 at a compound annual growth rate (CAGR) of 35.7%. The growth in the historic period can be attributed to rise of social media platforms, shift in consumer behavior, authenticity and relatability, global reach and accessibility, collaborations with brands..
The fashion influencer marketing market size is expected to see exponential growth in the next few years. It will grow to $19.62 billion in 2028 at a compound annual growth rate (CAGR) of 33.5%. The growth in the forecast period can be attributed to micro-influencer engagement, video content dominance, sustainability and ethical fashion, interactive and shoppable content, diversification beyond fashion.. Major trends in the forecast period include diversity and inclusivity advocacy, live shopping events, long-term partnerships over one-time collaborations, ai-driven influencer marketing platforms, interactive and shoppable content, emphasis on genuine engagement metrics..
The higher social media proliferation is expected to propel the growth of the fashion influencer marketing market going forward. Social media proliferation refers to the rapid and widespread expansion of social media platforms and their increasing use by individuals and organizations worldwide. Social media advertising is the process of using social networking platforms to increase brand awareness and customer leads, which helps propel the growth of fashion influencer marketing. For instance, in March 2023, according to Demand Sage, a US-based data reporting and analytics solutions provider, the world’s social media users totalled 4.9 billion as of March 2023. It is predicted that there will be 5.85 billion social media users worldwide by 2027. Therefore, the higher proliferation of social media is driving the growth of the fashion influencer marketing market.
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The fashion influencer marketing market covered in this report is segmented –
1) By Influencer Type: Mega Influencers, Macro Influencers, Micro Influencers, Nano Influencers
2) By Fashion Type: Beauty And Cosmetics, Apparel, Jewelry And Accessories
3) By Organisation: Large Enterprises, Small And Medium-Sized Enterprises(SMEs)
4) By Application: Search And Discovery, Campaign Management, Influencer Relationship Management, Analytics And Reporting, Compliance Management And Fraud Detection, Others
Technological advancements are a key trend gaining popularity in the fashion influencer marketing market. Companies operating in the fashion influencer marketing market are adopting new technologies to sustain their position in the market. For instance, in January 2023, KlugKlug, an Indian-based B2B SaaS platform for global influencer marketing companies, launched a decision-making B2B tech platform. This platform offers comprehensive and dependable global influencer intelligence, exploration, and information for social media platforms such as Instagram, YouTube, and TikTok, with over 252 million influencer profile insights and a data platform that uses artificial intelligence and machine learning technologies to ensure 85% precision. KlugKlug can meet the needs of influencer marketing in over 230 countries.
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