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The Influencer Economy Hurtles Toward Its First Recession

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https://www.wired.com/story/influencer-economy-hurtles-first-recession/

wired.com

The Influencer Economy Hurtles Toward Its First Recession
Faced with a pandemic on the one hand and slashed budgets on the other, some industry insiders say it’s time for influencing to evolve.

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Influencer industry

The influencer industry has operated in boom times. As more Americans have taken their cues from social media about where and what to buy, brands started to use their marketing budget on influencer...

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Reason for the negative impact

  • There is less money to go around. Since March, about a third of influencers were already seeing fewer collaborations.
  • This is also an awkward time to advertise, while so many are un...

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Broad branding campaign

If a recession brings shopping to a standstill, marketers may not return to the type of broad branding campaign currently used in the influencer world.

Marketers are still in demand, but bra...

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Influencers can still be influential

In some ways, influencers are more influential than ever. They get more reach now from self-isolating fans.

The recession stands to remake the industry and force it to mature. Massive follow...

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The influencer

The influencer

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Democratizing fame (and fortune)

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Valorizing “real”

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The shift from traditional

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