Luxury Fashion Brands Shift Budgets To Digital

Luxury fashion brands like Gucci and Louis Vuitton — traditionally big magazine advertisers — are starting to shift more and more ad dollars to digital channels, according to The Wall Street Journal. Globally, the luxury industry spent over $1 billion on digital ads in 2016, a 63% increase since 2013, while spending on magazines declined 8% over the same period, per Zenith. As ad spending on print continues to decline, magazines viewed luxury fashion as one the last dependable categories for ad revenue, but it seems the tides are shifting as digital becomes the main way people consume content. Read more at Business Insider.