Philosophy of Positivism
It is a fact that technology has taken over much of the global business field, and the luxury industry is one that is continuously acquiring and relying on technology in current times. The population of millennials is growing, and in a few years, they will become the majority of consumers of luxury products ( Jin, 2012) . The philosophy of positivism is based on facts, logic and mathematics, and positive data of experience. Everyone in the luxury industry begun using the internet to market and sell their products at least a decade ago. Anyone who does not fully utilize the internet in the modern age cannot be able to experience great success in an industry such as the luxury industry. The internet does not only increase sales and improve marketing but also makes making and customer experience much more effective and fun. This makes it ideal for integrating the use of the internet into the business.
The increase and growth of revenue, the continued growth of the consumer base, and the steady general growth of the business are all factual indications of positivism with regards to the integration of the internet and social media into the luxury industry. Through the internet and social media, luxury companies are able to influence and reach millions of customers from all over the globe. Louis Vuitton products, for instance, are known and valued quite highly by millions all over the world, thanks to the internet and social media ( Gastaldi, 2012) . Influential people such as popular musicians post pictures or videos of themselves wearing Louis Vuitton shoes or talk about the products in the songs, which also help send the message of the product to their fans. The internet and social media is thus a good fix for the luxury industry. The proofs in the positives such as the increase in sales, the effectiveness of market and customer experience, and the expansion of the market and the continuous growth of the customer base, all provide the facts and figures supporting its integration into the industry ( Godey et al., 2016) .
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Method
A qualitative methodology was used in the study to investigate the use and the impact of the internet and social media in the luxury industry. The study aimed to use a proper sample population made up of the target pollution, to properly investigate the impact of the internet and social media on the luxury industry. The methods consisted of the use of interviews and observations that were conducted in different regions all over the world. The target audience consisted mainly of millennials aged between seventeen and thirty-six years and older age groups aged thirty-six years and above. Another set of subjects included employees and managers in luxury companies. Interviews were conducted physically and over the internet in order to cover larger populations. Interviewees (consumers) were asked to provide their opinions on matters such as customer experience on the luxury industry websites and how the internet and social media has helped them access and acquire luxury products. Managers and employees were interviewed on how the internet and social media have impacted marketing, sales, and growth of their companies. Observations were also conducted on various social media platforms such as Facebook and Instagram to see how people reacted to luxury product posts.
Data Analysis
The data analysis method, as can be derived from the method used above, involved the use and interpretation of techniques such as interviews and observations. Interviews provided insights on the impact of the internet and social media on the side of consumers and managers. The observations conducted on the various social media sites showed the likelihood of people taking tours or conducting window shopping on product websites after they saw the products on social media platforms ( Kim &Ko, 2010) .
Results
An overwhelming majority of the consumers interviewed reported that the internet and social media have significantly improved their experience, eased their shopping experience, and made it possible and more accessible for them to acquire products made by designers from oversees. Employees, designers, and managers of luxury products also reported an increase in sales and profits, expansion of markets, and positive company and industry growth. Observations made from the popular social media sites and luxury company websites also reported a high likelihood of people having to visit product websites after seeing the products on social media.
Limitations
Various limitations concerning the integration of the internet in the luxury industry were observed. Other than millennials, most older people were found to spend less time online while some did not even own social media accounts. Even then, a considerable number of people all over the world still do not have access to the internet. Another limitation exists in the form of a distance or time constraint. Someone from another country or continent may be willing to purchase a product, but the fact that it will take days or weeks to arrive and the added costs of shipments, will discourage the individual.
Ethical Issues
Consumers are increasingly considering and applying ethics while deciding to purchase products. When people buy luxury products online, there is always a possibility that they would not get exactly what they thought they would get when they shopped on the websites ( Dauriz et al., 2014) . Luxury products are often expensive, while more and more people require them every day. The continued exploitation of natural resources may be a worry for people, which may derail the mentality of consumers.
References
Dauriz, L., Remy, N., & Sandri, N. (2014). Luxury shopping in the digital age. Perspectives on retail and Consumers Goods. McKinsey .
Gastaldi, F. (2012). Internet, social media, and luxury strategy. In Luxury Strategy in Action (pp. 108-124). Palgrave Macmillan, London.
Godey, B., Manthiou, A., Pederzoli, D., Rokka, J., Aiello, G., Donvito, R., & Singh, R. (2016). Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior. Journal of business research , 69 (12), 5833-5841.
Jin, S. A. A. (2012). The potential of social media for luxury brand management. Marketing Intelligence & Planning .
Kim, A. J., &Ko, E. (2010). Impacts of luxury fashion brand’s social media marketing on customer relationship and purchase intention. Journal of Global Fashion Marketing , 1 (3), 164-171.
