Three words; Thank you Google! Seriously, raise your hand if there is NO WAY you could live without Google? Most people are on this website numerous times a day searching up anything and everything. It is amazing how people could survive before the internet. How people ever pass school before it? Google is essential to society for helping find whatever anyone may need and assists you find all different things throughout the web. It is a great tool to help to look up anything your heart desires.
When big news is happening around the world, it is easy to find out very detail with one word or phrase and clicking search. Soon after pressing “Google Search”, thousands of articles related to your search will appear which ensures endless possibilities for anyone to find exactly what they are looking for. It is a great way to stay up to date with politics, entertainment, fashion, or for just everyday things someone wishes to find. With Google, the search possibilities are endless. So now let us take a moment of appreciation for the Google creators (We owe you).
People in business know the need for Google and the public’s draw to searching all things through it. It is available people to see what the hottest searches are on google at any point and time, so that is why luxury investors and analysts have started using google as a tool to find what the latest “trends” are. Growing Google search trends have historically lined up with growing sales for designers and companies, such as Gucci. In 2012, analysis’s said that Gucci was one of the most searched brands on Google for the year. Then soon after this research was released, sales rocketed for them. This made analysis pretty certain that their correlation between searches and sales was true.
Prada is another brand who had connections between revenue growth and high google searches in previous years. Many believe the reason for these links is that when a brand is searched on Google, it shows that the consumers are interested in the brand. They search the name in hopes of finding something online that they can buy. Sometimes it can be hard to keep up with the latest google search trends because of high internet use and constant changes in consumer preference.
Still, it gives Luxury investors a good indicator of how a brand is doing on the sales end of things. Crazy how they can do this just by looking into how much they are searched for on Google. Over time, the trends of searches and sales have become more concrete. This could also be because of the growing power of online shopping by customers. Consumers are now more likely now to search for brands online and shop at their online stores than go directly to the location and find pieces.
What these analyses’ look at when conducting the research are things such as the highest increase in interest over time and total searches for a period of time. They will look at past revenue growth and then compare that to the top Google searches to make relationships between them. After this is all done, the can accurately tell which brands are on the high road to top sales and which brands are plummeting into troubles.
With the help of Google and the people searching at these trends, designers are able to get an idea of when it is time to step up their game. When they see that their searches are going down and people are becoming less interested in their clothing, it gives the brand a heads-up in knowing something needs to be done.
Keep on searching!