Fashion Influencer Marketing Global Market Report 2024

The fashion influencer marketing market 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 observed in the historical period can be credited to the emergence of social media platforms, changes in consumer behavior, emphasis on authenticity and relatability, the global reach and accessibility facilitated by digital platforms, and the increased prevalence of collaborations with brands.

The fashion influencer marketing market 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 anticipated growth in the forecast period can be linked to increased engagement with micro-influencers, the dominance of video content, the emphasis on sustainability and ethical fashion, the rise of interactive and shoppable content, and the expansion of influencer marketing beyond the fashion realm. Key trends expected in the forecast period include advocacy for diversity and inclusivity, the popularity of live shopping events, a shift towards long-term partnerships over one-time collaborations, the adoption of AI-driven influencer marketing platforms, and a focus on genuine engagement metrics.

The anticipated growth in the fashion influencer marketing market is expected to be propelled by the widespread proliferation of social media. Social media proliferation signifies the rapid and extensive expansion of social media platforms, which are increasingly utilized by individuals and organizations worldwide. Social media advertising, a process that utilizes these platforms for brand promotion and lead generation, plays a crucial role in driving the growth of fashion influencer marketing. For example, as of March 2023, the global count of social media users reached 4.9 billion, according to data reported by Demand Sage, a US-based provider of data reporting and analytics solutions. Projections suggest that this number is expected to rise to 5.85 billion worldwide by 2027. Therefore, the heightened proliferation of social media platforms is a key factor driving the growth of the fashion influencer marketing market.

The expansion of e-commerce is poised to contribute to the growth of the fashion influencer marketing market. E-commerce, denoting the online buying and selling of goods and services, serves as a platform for leveraging fashion influencer marketing to endorse and promote fashion products, thereby enhancing brand visibility and engaging consumers. As of the second quarter of 2023, the U.S. Census Bureau estimated that retail e-commerce sales in the United States amounted to $277.6 billion, reflecting a 2.1% (±0.9%) increase from the first quarter of the same year. Hence, the surge in e-commerce activities is a significant driver for the fashion influencer marketing market.

Technological advancements represent a prominent trend gaining momentum in the fashion influencer marketing market. Companies within this market are embracing new technologies to maintain their competitive positions. For instance, in January 2023, KlugKlug, an Indian-based B2B SaaS platform catering to global influencer marketing companies, introduced a decision-making B2B tech platform. This comprehensive platform provides reliable global influencer intelligence, exploration, and information for social media platforms such as Instagram, YouTube, and TikTok. It encompasses over 252 million influencer profile insights and employs artificial intelligence and machine learning technologies to ensure an 85% precision rate. KlugKlug serves the influencer marketing needs of over 230 countries.

Major players in the fashion influencer marketing market are concentrating on developing connecting platforms that leverage tools such as Linkpop to enhance relationships between creators and commerce, gaining a competitive advantage. Linkpop, a link-in-bio solution, enables influencers and creators to monetize their social media traffic by establishing a social shop and promoting products. For example, in August 2022, Shopify, a Canada-based commerce platform, launched Collabs, a platform that connects merchants with influencers to boost influencer presence and address e-commerce sales slowdown. Collabs facilitates partnerships by offering a directory for merchants to discover influencers and vice versa. It utilizes Shopify's link-in-bio tool Linkpop, enabling influencers to set up a social shop and monetize content.

In February 2023, Triller, a US-based AI-powered music video app and talent discovery platform, acquired Julius for an undisclosed amount. This acquisition enables Triller to connect brands and agencies with a vast global audience through its entertainment platform and leverage Julius' expertise in influencer marketing. Julius is a US-based influencer marketing platform that provides scalable solutions driven by data.

Major companies operating in the fashion influencer marketing market report are AspireIQ, JuliusWorks LLC, Influencer DB, IZEA Worldwide Inc., Klear.com Ltd., Launchmetrics, Mavrck, Socially Powerful, Upfluence, Speakr Inc., Traackr Inc., Quotient Technology Inc., Tagger Media, Captiv8, ZINE Ltd., Influencity, HYPR, Markerly, Neoreach, Open Influence, Cohley, Revfluence, MediaMath, BrandSnob, Fashion Nova, RewardStyle, LTK, ShopStyle, Lumanu, Curalate Inc., CreatorIQ, Fohr, Hypetap, Inzpire.me, Obvious, The Brandtech Group.

North America was the largest region in the fashion influencer marketing market in 2023. Europe is expected to be the fastest-growing region in the global fashion influencer marketing market report during the forecast period. The regions covered in the fashion influencer marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fashion influencer marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Fashion influencer marketing involves various influencer types, including mega influencers, macro influencers, micro influencers, and nano influencers. A mega influencer is an individual with a social media following exceeding one million. The fashion types covered by influencer marketing encompass beauty and cosmetics, apparel, and jewelry and accessories. These influencer marketing strategies cater to both large enterprises and small and medium-sized enterprises (SMEs). The applications of fashion influencer marketing span search and discovery, campaign management, influencer relationship management, analytics and reporting, compliance management and fraud detection, among others.

The fashion influencer marketing market research report provides fashion influencer marketing market statistics, including fashion influencer marketing industry global market size, regional shares, competitors with a fashion influencer marketing market share, detailed fashion influencer marketing market segments, market trends and opportunities, and any further data you may need to thrive in the fashion influencer marketing industry. This fashion influencer marketing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fashion influencer marketing market includes revenues earned by entities promoting brands by posting fashion-related content, collaborating with brands, attending fashion events, and engaging with followers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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