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We publish analysis & reports about Luxury China, new trends, insights from marketers,Luxury Key figures, on this the number1 market in the wold : China
Luxury in China, Brands Case Studies, news analysis , advertising strategies for China.
“ The impact of a weakening economy is unlikely to stop wealthy Chinese consumers from travelling to buy their luxury goods ”
Luxury brands need to re-think their Marketing strategies for China
Due to the new Chinese economy, which is the slowing down, the financial returns of many luxury shopping mall investments are much less “attractive” now that they are not five years old. Shopping Mall and retail sales decline, luxury brands will have to re-think their growth strategy for the Chinese Clients. The implications for the luxury Brands as a whole are potentially far-reaching, given that the interior of China was once considered the tresor for the future.
If we look at China, much of the positive sales witness in the last 2 years in the developing province, 2nd and 3rd tierce cities was actually fueled by wealthy tourists . However, after the Chinese government devalued the renminbi in August 2015, China’s foreign spending power took a turn for the worse. In addition, the Chinese economy continues to cool down. These two combined challenges will impact the mix of geographic sales in the industry, which could trigger another global power shift in 2016.
The impact of a weakening economy is unlikely to prevent rich Chinese consumers from traveling to buy their luxury goods but they could change their destination of choice as well as total spending in the destination. Short-haul destinations such as South Korea and Thailand. If Chinese consumers reduce their travel abroad, we might begin to see another shift in regional balance. Spending in North America, Western Europe and Japan fell, while spending in China increased.
It is difficult to predict how the situation will develop in the future. What we want to say, however, is that according to our new research, 2015 proved to be for the most strictly critical years ever for the global luxury industry.
On 18 December 2020, the Italian house Gucci disembarked on Tmall Luxury Pavillon, owned by the Alibaba Group. Gucci will open two digital stores on China’s largest e-commerce platform. One features all its product categories in fashion, it is available from December 21; and the other that will sell beauty will be available in February…
Have you ever wondered what is the secret of a good localization strategy in China? For those who do not know, localization is the process in which a brand/company adapts to the local culture, from translation to products, to how it markets a product, etc. That is why, for example, McDonald’s menus are different from…
Yes, China’s luxury market offers great opportunities to new coming luxury brands The Chinese luxury goods market is forecast to see strong growth over 2019-2024. The expansion of the market will be driven by growing demand from Millennial and Gen Z consumers and by the growing focus of luxury brands in tailoring their innovation, marketing,…
Clothing trade fairs and exhibitions in China Chinese trade fairs for cloths are increasingly important internationally. Hundreds of thousands of business people attend these conferences from basically every country in the world hoping to buy or sell needed products and scouting for business opportunities. Trade fair as an exhibitor is hugely important for the business’s…
What is Localization? Localization is a service used to adapt a product, page, or app to a specific market. A localization strategy addresses customer behavior, purchasing habits, and general cultural differences in each country in which it operates. When a company enters a foreign market, it becomes difficult to offer buyers in a specific country…
Today we have interview Cyrielle Mohara, founder of the Agency Spectrum, high end travel planning service. Cyrielle Mohara has accepted to reply to our questions, and will give you insight of the wedding market in China. Hello Cyrielle, can you introduce yourself please. I am Cyrielle Mohara, the founder of Spectrum, a luxury event…
China’s purchasing power for Premium products has been proved once again, even during crisis. Last time the luxury brand Alexander Wang attracted a lot of attention was because they sold a basket with 5888 yuan which in cooperation with McDonald’s. This time, Alexander Wang’s newest move was registered on T-mall, which is the brand’s first…
The Chinese luxury market is currently undergoing major shifts, from the migration of customers from offline to online to the increasing percentage of consumers buying directly from mainland China. According to Forbes, 98% of all active internet users in China are mobile users. Adding on the fact, there is no age barrier for mobile penetration…
The Chinese Luxury Market is now one of the biggest in the world. With burgeoning levels of wealth and disposable income, expectations from Chinese consumers are diversifying. <p style=”font-size: 1.5rem; margin: 0 0 10px 0; font-weight:bold;”>Marketing to China it’s also an <span style=”color:#B23C2E;”>Agency</span></p><!– –><p>We are the top and most visible <strong>Web & Marketing Agency for…
In China, the barrier between art and luxury is very slim. While having a look at the fashion industry, for example, one could notice that many designers choose to make collaboration with artists in order to attract customers by insisting on the notion of exclusivity. During these last years, we can point out the significant…
Imagine the lifestyle of the Ultra-rich Chinese people is amazing! Imagine them stopping by Tiffany and Co. on the way to lunch to pick out that perfect piece of luxurious jewelry and then spending the afternoon with friends at the Ultraviolet by Paul Pairet. This is all followed by stopping by the Prada store to…
Luxury in China: Since the reemergence of consumerism in China, the presence of global luxury brands has acted as a harbinger for the nation’s wider transformation. Luxury has consistently been the symbol of arrival at the national, city and personal level. <p style=”font-size: 1.5rem; margin: 0 0 10px 0; font-weight:bold;”>Marketing to China it’s also an…
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