Celebrity Endorsements Don't Influence Luxury Purchases
In what will come as a shock to no one but marketing executives, luxury consumers say that celebrity endorsements don't make them more likely to make purchases. In fact, only 1% of consumers who participated in the survey run by the Luxury Institute in New York, while 13% say that they so dislike seeing over-hyped celebrities pitch products that it would prevent them from making the purchase at all.
The majority of consumers say that they aren't swayed either way, but there are a few notable exceptions where a high-profile endorsement can raise awareness of a product, trend or industry with good results. This is especially true if the celebrity in question has a good reputation in the eyes of consumers. These areas include fashion designers and clothing trends, watches and jewelry, cars, wealth management firms, private jets and philanthropies.