Luxury retailers are hesitant to get involved in the social space because it is a platform for 2-way communication with consumers—the type of marketing luxury brands typically shy away from. Social media is a playground for spreading unfiltered and opinionated information by uneducated consumers across the web, and this lack of control is the top turn-off for luxury marketers. And really, can you blame them? Luxury retailers are hyper-protective of their brands, almost to the point of remaining distant from average consumers, towering over regular joes via lofty billboards and high-society events. You might think this is elitist, but elitism is part of why they’re luxury brands. However, a few high-end retailers are participating in social media and initiating a conversation with consumers using social media sites. For example, in May 2009 Louis Vuitton released a limited edition bag available exclusively to their Twitter followers. Hooray for incremental sales, but more importantly, this gave a new platform for Louis Vuitton to engage in the conversation with consumers.

Another reason luxury retailers are not participating in the social space is because of the myth that the luxury demographic does not spend time on social sites. A recent study by eMarketer says that affluent internet users will grow from 43.7MM in 2006 to 57.1MM in 2011, while in February, Facebook identified its fastest-growing segment as women over 55, up 175% since November 2008. Luxury customers are online and participating in social media, but there is another crucial demographic influencing and participating in social media: future luxury customers. 52% of Facebook users are between the ages of 18 – 25 years old, and they will determine the future of luxury brands within the next 30 years. Luxury retailers should be communicating with the next generation, those who aspire to luxury brands as soon as they can afford them, say when they’ve graduated college and landed there first real job. And when the money does come, consumers will purchase from the brands they have built a relationship with since their teens and early twenties.

Lastly, if luxury brands do not participate in social media it likely means there is an uncontrolled brand presence being directed through unofficial groups, posts and images. Luxury brands are supposed to have all the characteristics that mass market retailers do not: customer service, unrivaled quality and an exclusive price point. If luxury brands’ products, employees and reputations are solid shouldn’t it be trumpeted from Facebook’s News Feed?