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 […]
luxury
Alibaba e-commerce marketplace highlights for Q3 2018
Alibaba’s annual active consumers increased by 25 million and reached 601 million in the 12 months ended September 30, 2018. Alibaba delivered robust revenue growth of 54% for quarter Q3 2018. Taobao mobile app saw a total of 666 million MAUs.
Chinese luxury e-commerce platform Secoo’s active customers almost doubled in Q2 2018
The leading Chinese luxury e-commerce platform Secoo’s active customers almost doubled in Q2 2018 to 255.5 thousand from 129.3 thousand for Q2 2017. Its GMV reached 1,653.4 million yuan (US$249.9 million), representing an increase of 44.7% from 1,142.6 million yuan in Q2 2017.
How Gucci promotes its product via key opinion leaders (KOL) in China
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 […]
China’s luxury consumption trends in the new retail era
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 […]
China online luxury consumption trends 2018
Deloitte released the “2017 China Whitepaper on Luxury Consumption online”, hoping to answer two questions: Who are the consumers buying luxury goods in China, and what are their consumption habits? The answers may be surprising; China is second only to the United States as the world’s largest market for luxury goods, and the average age […]
High-end retail should focus on high-value-added goods and services in China
China’s retail market has seen huge shifts in consumer preferences and buying habits over the past decade, a trend which has only accelerated in the past few years. To cope with the changes, retailers are rushing into the high-end market and integrating on- and offline retail experiences into a seamless package, selling experiences and quality […]
Powers of luxury goods 2017: China vs. Global
US dollar-adjusted prices for equivalent items are on average over 50 percent higher in China than in Italy and France.The price difference can vary widely across countries, eg. between China and France. Both Mainland China and Hong Kong experiences a slowdown in luxury goods spending continually, with economic uncertainty dampening consumer confidence. Background on Luxury […]
INSIGHTS Chinese fashion KOL pivot from marketing to direct sales
China’s fashion bloggers maximize their business value – from sashaying down the fashion walkways as models, designing their own clothing line, acting as brand ambassadors and now to even doing direct sales of luxury goods. Besides engaging influencers (commonly known as KOL) as brand ambassadors or design collaborations, luxury brands now can sell their bags […]
Key stats for JD.com Performance in Q2 2017
Jingdong (JD.com) net revenues for the second quarter of 2017 were 93.2 billion yuan (US$213.7 billion), an increase of 43.6% from the second quarter of 2016.
KOL marketing rising in China’s luxury fashion industry
With the engagement of Internet celebrities and key opinion leaderships (KOLs), a new way has been paved in luxury brand marketing in China. Other than inviting online celebrities and KOLs to endorse the products and sometimes collaborating with them to produce new designer items, luxury brand companies have also started to sell their designer products […]
French beauty brand L’Occitane to open its first Café in China
Recently, French beauty product retailer L’Occitane is opening the first Café in mainland China (Nanjing). As the brand competition becomes more and more fierce, skincare brands have to develop various by-businesses to attract and maintain more customers. The L’Occitane Café in B1 floor of Nanjing Deji Plaza is still under decoration. The decoration enclosure plate […]