It is of no surprise that many luxury brands are competing to boost their brand value and mindshare in this market. This year in June, we interviewed 2, affluent respondents in 8 countries: For the purposes of this analysis, Agility asked respondents to select from a pool of 20 popular brands which ones they associate with specific qualitative attributes, which indicate the mindshare of the brands.
More repatriation of Chinese luxury spending. Meanwhile, a study by ContactLab found that the percentage of luxury goods purchased abroad decreased year-on-year in the first four months of from 43 percent to 40 percent.
With the Chinese government aiming to earn tax revenue and luxury brands hoping to cut down on the gray marketexpect these trends to continue in the coming year.
Price-savvy Chinese shoppers will continue to follow currency changes abroad. One of the main factors driving the next hot shopping spot? Despite new tariff policies, some brands lowering their China prices, and a devalued yuan, many goods still cost more in China than they do elsewhere, and Chinese shoppers are very aware of prices and global currency fluctuations.
E-commerce will remain a bright spot for growth with a focus on mobile. E-commerce is gaining ground globally in the luxury industry, and China is no exception. Around 80 percent of luxury brands are now available online in China in some form or another, whether it bet a direct-to-consumer site or presence on a third-party e-commerce platform, while only 14 percent of fashion brands and 25 percent of watch and jewelry brands have no China e-commerce presence at all.
Mobile shopping is especially important, with mobile sales estimated to have grown by The anti-corruption campaign lives on. From Weibo to WeChat, image-sharing has long been a crucial component of influencing luxury consumers online.
But with the rapid rise of Instagram-like photo-sharing apps and live-streamingvideo and photo content will be front and center for everything from marketing campaigns to KOL partnerships.
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In case of abuse, click here to report.China's state planner, the National Development and Reform Commission, recently announced that the country aims to inject RMB2 trillion ($ billion) into the domestic travel industry by , with some help from private investors.
Apr 30, · “Luxury products may be more expensive, but they are very well-made,” said year-old Toshiko Obu, carrying her longtime Fendi bag outside the Ginza Six building, which has been drawing big crowds since last week’s opening.
Purchasing intention of Chinese consumers in the luxury brand markets: the impact of value and affect areas of consideration including consumption al., ), while from the area of luxury fashion marketing in China, Zhang and Kim ().
China's consumption of luxury fashion goods is amongst the highest in the world. The importance of the high-end Chinese market for Western luxury fashion brands has been so far the centre of.
Despite only having 11 stores in China by the end of (the fewest among the 10 brands), Chanel has landed the number 1 most popular luxury clothing and accessories brand in China, whereas Armani, with a whopping stores in the country, only managed to land 7th place.
Some luxury brands began to advertise and even tried to sell products on WeChat, one of China's most popular instant messaging app in , indicating increased input in digital development.