Tag Archives: Luxury good
The never ending quest for new sources of insight.
4 top reasons why Chinese buy counterfeit luxury goods.
From Slideshare.net: As fakes and copies are a big problem in China, counterfeit luxury goods is a topic can’t be avoid, it caused a big negative influence for luxury brands, people have lost motivation to buy a real one, as too many can be seen on streets. Based on IWOM content from a GroupM & CIC white paper, Chinese counterfeit [...]
By 2020, China’s luxury consumer base to reach 180 million.
From Strangeloop: In 2010, China’s luxury goods consumption reached US$6.5 billion, maintaining the world’s fastest growth rate for three consecutive years. [Goldman Sachs] By 2015, China is expected to overtake Japan as the world’s largest consumer of luxury goods. And by 2020, China’s luxury consumer base is expected to expand from 80 million to 180 million people. [McKinsey]
China consumes over 25% of total global luxury goods.
From China Observer: This past year’s World Luxury Association (WLA) and China Trade Development & Cooperation Center (CCPIT) report found Chinese luxury consumption from February 2010 to March 2011 reached 10.7 billion USD – equivalent to more than a quarter of the world’s total global luxury consumer spending.
How China luxury brands communicate on Sina Weibo.
Data from CIC: Based on the data collected form CIC Weibo Tracking, the luxury brands followers seem to be pretty interested in product intro and celebrity & designer contents. Check the graph we will see that for fashion brands like Burberry, Louis Vuitton and Gucci, the content of their tweets are mostly on fashion events [...]
35% Chinese luxury purchase influenced by digital & WOM.
From McKinsey‘s Insights China_Luxury Goods: As to the luxury product market in China, its in-store execution that gets most consumer attention while the internet is gaining more importance than traditional media. Meanwhile, WOM is also quite influential to China luxury product consumers. 选自McKinsey的Insights China_Luxury Goods：对于中国的奢侈品消费市场来说，实体店铺的宣传往往能收到最好的效果，而互联网上的推广也越来越收到重视。同时，中国的奢侈品消费者们对口碑传播也比较关注。
China’s Luxury Market: 840 Million Potential Customers.
According to research compiled by L2, China’s luxury market is about to explode. Interesting to note is the age groups of luxury buyers. China’s unique historical circumstances come into play, with 80% of luxury buyers under the age of 45. This makes luxury branding in China require a distinctly “young/modern” feel vs. the US and [...]
