Has your brand embraced social media yet?  If it hasn’t, now might be time to start thinking about it.

L2ThinkTank recently conducted a survey of “high-achieving and high-earning Gen Y adults”.  Highlights include:

• 81 percent of millennials use Facebook every day—nearly twice as many as those who watch TV or read newspaper content.
• 45 percent read blogs every day, as many as those who read newspaper content.
  Nearly half read a newspaper every day, but 79 percent access that content digitally on a daily basis.
• 42 percent watch TV shows online; 27 percent watch movies online.
• 25 percent use mobile to access social media, and one in eight watched a video on mobile in the past 24 hours.
• 63 percent use social media to engage with brands, and more than 50 percent say that Facebook, blogs, and brand videos affect their opinions about products.
• Websites are as influential as physical stores in shaping Gen Y sentiment, second only to friends’ opinions.

What does this mean for luxury marketers and brands?  Social media has arrived and it looks like it might stick around a while.  On almost a daily basis it is becoming more and more ingrained into the lives of millenials – much in the way TV and radio were for generations past.  Luxury brands need to stay nimble and react to this growing trend or risk losing market share to the competition.

Learn how your brand can connect with young, affluent consumers online.