Three major trends are shaping China's luxury market today: expansion of luxury brands into everyday categories, increased attention towards niche brands and personalization, and "normalization" of online sales of luxury goods.
On August 21st, CBNData and Tmall published a report entitled “Luxury Consumption Trends in the Era of New Retail, 2017”. Using Alibaba’s consumer data to analyze consumption patterns, the report highlights several trends in changing luxury consumer demographics as well as showing the changing ways that luxury brands pursue consumers in China.
Between 2014 and 2016, the number of luxury brands using online sales channels has continuously increased; by 2021, online sales are expected to account for 13% of the luxury goods market.
Changing consumer demograp...
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