Boohoo Splashes £80m On Social Media Celebrities As Sales Soar
We all know that influencer marketing usually results in soaring sales, but nobody expected the results that it gave Boohoo. The online fashion retailer posted a 48pc jump in sales, which massively beat analysts expectations, and the brand are putting it all down to influencer marketing.
“Our collaborations with celebrities must be successful because you see it in the numbers.” says co-founder Carol Kane, which is undoubtedly true. The impressive number of sales that Boohoo have managed to gain this year demonstrates the changing nature of shopping habits, as the high street sees a decline where online is thriving.
Boohoo have no plans to stop collaborations with celebrities, and have actually spent a whopping £80 million on influencer marketing to ensure that sales continue to rise. We want to know whether this type of marketing can continue making the current profits in the future, especially now that there are significant changes being made to social media sites such as Instagram.
Facebook announced a number of huge changes at F8 this year that may be the first in a series of adjustments to social media sites. The changes that were made include changing the like count and comments on Instagram posts to private in an attempt to encourage creativity rather than focussing on how many likes a post gets. This change is currently being tested, however, could massively affect influencer marketing in the future, as it becomes harder for companies to discover influencers. Could pumping money into an unsure market be a problem for Boohoo?
Probably not. Despite the changes that are being made to social networking sites, it is unlikely that influencer marketing will come to an end (at least, not in the near future) because it is doing so well. The numbers are rising, and Boohoo’s profits are telling, is this down to influencer marketing? Probably.
It appears that influencer marketing may be the golden rule to marketing in the 21st century, and no amount of changes to social media sites are going to stop it!
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