In a world where e-commerce and technology continue to evolve, JD.com’s recent financial disclosures for the second quarter and interim 2023 reveal a significant growth trajectory. The company, a titan in supply chain-based technology and services, has reported impressive numbers, with some unexpected insights.
China Luxury Market
Check out China's luxury consumers' behaviors, trends, and how you can win over this consumer segment.
China’s post-90s (those born after 1990) are expected to contribute to 46% of China’s luxury purchases in 2021, according to joint research by Tencent Marketing Insight (TMI) and Boston Consulting Group (BCG). China’s post-90s already make up 50% of the luxury goods buyers in the country, with a fast growth rate of between 25-35 percent […]
Alibaba Tmall kicks off 2021’s 618 Shopping Festival on 24 May. This year’s pre-sale activities are obviously ahead of schedule. The balance will be paid on June 1, and the discount will last for 20 days.
Last year, WeChat launched WeStore, an online store mini program on WeChat. Many companies launched their WeChat stores, including luxury brands. Recently, some users found some luxury brands’ WeChat mini programs, such as Gucci and Givenchy, inside JD and Xiaohongshu (RED). Gucci’s Xiaohongshu Company Account shown in search results Clicking on the ad (the “cat” […]
Spending on luxury in China has rebounded strongly as restrictions to global travel have pushed Chinese consumers to make luxury purchases domestically rather than abroad. Growth for the mainland China luxury market is expected to climb by 48% to reach almost RMB 346 billion in 2020. This growth has driven China to double its overall […]
In Honor of Kings’ first co-creation with a luxury brand, Burberry Chief Creative Officer Riccardo Tisci has exclusively designed two skins for the mobile game’s popular heroine, Yao.
The number of “wealthy families” with at least 6 million yuan (about US$930 thousand) assets in China exceeded 5 million for the first time in 2020, an increase of 1.4% over the previous year, according to Hurun Research Institute. Beijing is still the area with the most “wealthy families” with assets of at least 6 […]
Burberry launched its first luxury social retail store in Shenzhen on July 31 and Tencent provides technical support empowering “Retail store + social networking”. The WeChat Mini Program “Burberry Social Retail Store” integrates the online and offline store operations.
Alibaba quietly launched Luxury Soho, a new channel on the Tmall e-commerce platform targeting young and value-conscious luxury shoppers. Coach, MCM among the first to join Luxury Soho Luxury Soho is named after New York’s fashionable Soho district. It’s created as a solution to help luxury brands attract younger consumers as well as those who […]
It has been 6 years since the first advertising for luxury products appeared on WeChat Moments in 2015 and the luxury sector first tested out WeChat Advertising. WeChat as a social platform has redefined luxury product marketing, allowing luxury brands to use social and digital ways to tell Chinese customers their own brand stories. Over […]
The quick spreading of coronavirus has totally changed China’s usually busy and cheerful Lunar New Year period: people were required to stay at home, inter-city transportation has been largely reduced, international flights have been cut down to minimal, almost everyone has canceled their travel (unless they were already overseas), visiting friends, and out-of-home activities. Schools […]
Feiyu Live Broadcast Competition in categories such as clothing, jewelry, and makeup is stiff in Taobao’s live streaming ecosystem and there are still opportunities in other categories such as luxury products. A Taobao Live MCN (Multi-Channel Network) Feiyu specializing in second-hand luxury products provides an excellent case for study. Since its debut on Taobao back […]
Data-driven, social media and omnichannel are the focuses of digital marketing growth for luxury brands, while “young”, “geographic concentration” and “social” are the keywords that best describe the trend of luxury brand marketing in China.
Chinese consumers were expected to contribute 40% sales to the global luxury goods market and hence drive 75% of this market’s growth. 58% of luxury goods consumers were the youthful population. 58% of them located at tier-2, tier-3, and lower-tier cities. Mobile occupied 54% of luxury goods consumers’ attention. 58% of consumers prefer collecting information online and buy luxury goods through […]
Gogoboi, a fashion blogger who has exclusively released GIVENCHY handbags on Wechat, now works exclusively with GUCCI to launch the GUCCI 2017 Holiday series. On one hand, this is the first time that GUCCI has authorized the sale of products on a third-party platform in China. On the other hand, this also indicates that the […]