Major players in the fashion influencer marketing market are AspireIQ, JuliusWorks LLC, Influencer DB, IZEA Worldwide Inc., Klear, Launchmetrics, Mavrck, Socially Powerful, Upfluence, Speakr Inc., Traackr Inc., Quotient Technology Inc., Tagger Media, Captiv8, and ZINE Ltd.
The global fashion influencer marketing market is expected to grow from $3.33 billion in 2022 to $4.54 billion in 2023 at a compound annual growth rate (CAGR) of 36.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fashion influencer marketing market is expected to reach $14.82 billion in 2027 at a CAGR of 45.2%.
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.
Fashion influencer marketing is a type of marketing strategy that involves collaborating with social media influencers who have a large following and influence in the fashion industry to promote a brand’s products or services. This marketing technique is used by fashion brands to maximize their reach and promote their products in more innovative ways to relate to brand values.
North America was the largest region in the fashion influencer marketing market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in fashion influencer marketing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main fashion influencer marketing influencer types are mega influencers, macro influencers, micro influencers, and nano influencers.A mega influencer is an individual who has over one million followers on social media.
The various fashion type are beauty and cosmetics, apparel, and jewellery and accessories, that are used by large enterprises, and small and medium-sized enterprises(smes). The various applications are search and discovery, campaign management, influencer relationship management, analytics and reporting, compliance management and fraud detection, and others.
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.
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.
In May 2020, JuliusWorks, LLC, a US-based end-to-end influencer marketing software solution provider, acquired HYPR Brands for an undisclosed sum.This acquisition broadens, diversifies, and enriches Julius’s portfolio by establishing a world-class knowledge center for influencer marketing software, which will result in best-in-class products for our customers.
HYPR Brands is a US-based company that provides an automated marketplace for social media influencer marketing and operates in the fashion influencer marketing market.
The countries covered in the fashion influencer marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The fashion influencer marketing market research report is one of a series of new reports that 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.