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.
China Luxury Market
Check out China's luxury consumers' behaviors, trends, and how you can win over this consumer segment.
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 […]
JD (Jingdong)‘s net revenues grew by 22.9% to US$122 billion in the second quarter of 2019. Its annual active customer accounts increased to 321.3 million and there is a total number of 220,000 merchants on its online marketplace. The company’s adjusted EPS rose 560% to $0.33.
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. A recent report, jointly published by Tencent Advertising and Boston Consulting Group, revealed three major pain points for luxury brand […]
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 […]
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.
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.
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 […]
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 […]
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 […]
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 […]
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 […]