How luxury magazine exposure is helping to boost brand image
Luxury magazine exposure has helped boost brand equity and sales in a number of recent quarters, according to an analysis of media and marketing data by industry analysts at Credit Suisse Group AG.
In the first three quarters of this year, luxury magazine revenue rose by 6% to $10.6 billion, and the overall magazine industry’s exposure to the media increased to a whopping $5.3 billion, up from $4.6 in the previous quarter, according the research firm.
In a separate report released Tuesday, Luxury Magazine said that magazine sales have climbed by 12% to 4.7 million copies, while revenue grew by 18% to a record $8.2 billion, thanks to increased exposure to consumers.
In its report, Credit Suse said exposure to luxury magazines was also a big driver of the rise in the magazine’s sales.
For example, a quarter earlier, the magazine had sold more than one million copies of its flagship “Vogue” magazine.
In addition, luxury magazines are the most valuable brand name for retailers and are a key factor in brands’ growth.
Luxury magazines are viewed as a “must-have” in the marketplace because they are perceived as being a “truly luxury brand,” according to Credit Suce.
“In recent years, luxury brand exposure has been driven largely by magazines, and brands with this exposure are more likely to have strong sales growth and revenue growth,” the analysts said.
“The success of magazines in this respect is also consistent with the success of luxury brand brands.”
In the past few years, many luxury brands have seen growth in magazine exposure, said Andrew P. Zimbalist, an associate professor of marketing at the University of Michigan.
“The media is a big factor, and a brand with a strong magazine exposure in the United States is likely to be viewed favorably by consumers,” Zimblist said.