In April the brand generated buzz for a campaign featuring model Bella Hadid photographed via the FaceTime video calling app, and in May Instagram posts featuring designer Simon Porte Jacquemus’ grandmother went viral. Jacquemus continues its ascent, rising four places to become the 11th hottest brand in the world, having seen a 61% increase in traffic on Lyst and 20% growth in Instagram followers since the previous quarter. Powerful brands with a distinctive aesthetic and philosophy continue to resonate well with shoppers, and those with a strong social media presence and online community did well throughout the quarter. The rapid shift to online is not exclusive to sportswear and athleisure: the consultancy Bain & Company published a report in May predicting that online sales will represent 30% of the luxury market by 2025. Nike had previously announced it intended to reach 30% digital sales by 2023, but having already reached that milestone this year, the firm has set a new target of 50% digital sales in the near future. Although the firm reported a revenue hit from shuttering bricks-and-mortar stores and shipping fewer products to wholesalers, its strong commitment to digital proves the tide is turning. The success of Nike in The Lyst Index also reflects the way coronavirus is resetting shopping patterns and habits, and accelerating the shift towards digital commerce. In a video liked over 5 million times on Instagram, Nike twisted its famous slogan to ‘Don’t Do It’ to promote its anti-racism message.
A series of powerful earned and owned brand moments boosted the brand throughout the quarter, at a time when some luxury fashion brands struggled to generate as many impressions as usual with events such as The Met Gala and men’s fashion week cancelled. Nike was propelled by a 106% increase in demand for loungewear and activewear, as consumers sought comfortable clothes to wear at home, as well as attire for exercise and outdoor activities. It’s the first time since The Lyst Index began that a luxury fashion brand has not taken the top spot. While some brands struggled to react and adapt to the changing landscape, Nike climbed two places to become the hottest brand in the world.
In June calls for greater equality and racial justice swept the world following the death of George Floyd at the hands of US police officers. The impact of coronavirus was felt sharply throughout the quarter, although consumer confidence started to return in the final months with the lifting of lockdown restrictions in some markets. Increase in traffic on Lyst for Jacquemus since Q1