Selena Gomez has 130-million Instagram followers, but will she sell bags?
In the chase for the millennial dollar, big retail brands are spending a fortune on celebrity tie-ups, but a hot name still needs to be backed up by a hot product
London — The image of Selena Gomez, clutching a Coach bag, is everywhere right now. Tapestry has splashed out millions of dollars to sign up the singer and actress to be the face of the brand and launch a product range. She might have 130-million Instagram followers, but will she drive handbag sales? That is the question not just for Tapestry, but for the companies from Adidas to Asos, that are rushing to work with influencers as they chase the millennial dollar. Advertisers worldwide may have spent $570m on Instagram influencers in 2016, according to research firm eMarketer. That is still tiny compared to their overall digital spending, but it is set to keep growing. The problem for brands and investors is that it is hard to know if they are getting value for money. It is all down the digital drain unless they are selling products that their followers actually want to buy. Intermediaries such as rewardStyle can help. The platform enables influencers to receive a commission every ti...
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