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.
MARKETING TO CHINA AGENCY
We are the top and most visible Web & Marketing Agency for China you will find on the web. Our Services: E-Commerce, Search Engine Optimization, Advertising, Weibo, WeChat, WeChat Store & PR.
China is a country of luxury, and it’s not limited to brands. Consumers in China are embracing the new wave of luxury with open arms. As Western brands continue to enter the Chinese market, they should look at how consumers in China use WeChat as an avenue for purchasing items that define their social status….
Nowadays, almost every aspect of Chinese people’s life is linked to digital devices. Millennials and Gen Z are more than ever driving China’s growth in terms of innovations and digital trends. Surfing on this tendency, luxury brands are trying to integrate AI tools both in their offline and online stores. By providing seamless and personalized…
Let’s dive into the wonderful opportunities that represent the Chinese jewelry market to foreign luxury brands and find out what are the best practices to succeed in the middle kingdom. According to figures from the China Industry development and Research website, the precious metal accessory market swelled from RMB567 billion in 2014 to RMB737 billion in…
Today, luxury would be nothing without the tremendous sales generated by Asia, and especially China. According to Bain & Company, the Chinese should account for 50% of the worldwide luxury purchase in 2025. In our fast-moving and the hyper-digitalized world, 2025 is tomorrow. China is evolving fast; more and more people improved their living conditions….
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,…
China luxury car market is flourishing The automobile market in China is attracting huge investments from domestic and foreign companies. The boom in the market has been fueled by sales of cheap local vehicles, but recently the luxury car market has also taken off. By now, most major luxury brands see China as the fastest-growing…
Burberry is using virtual reality in China to improve the customer experience. The company has launched a VR lounge in Shanghai that will allow customers to explore different aspects of the brand. This is an interesting move, and it will be interesting to see how it affects sales in China’s luxury market. Virtual reality stores…
In global comparison, most revenue in the Jewelry segment is generated in China (US$17,961m in 2020). The market is expected to grow annually by 4.2% (CAGR 2020-2023). With such a large number of “New rich” with high spending potential, and with an increase in the importance of self-expression among young people, China is undoubtedly a…
China today seems to be in a better position to recover from the economic crisis caused by the global pandemic. Therefore, the situation is better than many western countries that are now starting to face the problems resulting from the pandemic. In fact, markets are positioning themselves for the rebound, just note that the Shanghai…
Luxury brands in China are at risk of losing customers due to a lack of localization. This blog post will discuss the importance of localization for luxury brands, and how it can help them avoid problems like this. First, we’ll look into why localizing is important when marketing to Chinese consumers. Second, we’ll examine what’s…
Let's Discuss Your Project?
We are the Most Visible Digital Agency in China
Contact us
