China has already been one of the fastest-growing luxury retail markets in the world for years. As their spending power increases, consumers are becoming pickier, demanding premium brands at better prices, with better service. Now Le Tote, the fashion rental service backed by Andreessen Horowitz, GV and other investors, is preparing to enter the fray. … More Fashion subscription service Le Tote ventures into China’s competitive luxury retail market
Newly minted millionaires often purchase storied luxury brands as a way of expressing their arrival among a wealthy global establishment. This is especially true in China, where all money is, to some extent, new money. However, a recent report by Agility Research & Strategy suggests the best way to capture the attention of luxury millennial … More For Chinese Millennials, Tech Trumps Heritage: Agility Research
In 2017, several major luxury brands finally realized the importance of developing a comprehensive digital strategy to cater to affluent Chinese consumers, people whose daily lives are heavily interwoven with the internet. What follows is a detailed recap of major brands’ digital strategies, graded in terms of their digital sophistication. We’ve also added some suggestions … More Grading Luxury Brands’ Digital Efforts in China in 2017
Coty and other luxury brand owners scored an important victory on Wednesday in their bid to prevent retailers selling their products on online platforms such as Amazon and eBay after Europe’s top court said they have the right to do so to preserve their image. The issue is significant in Europe, whose companies account for … More Luxury brands boosted by court ruling for online sales ban
In a bid to further improve consumption structure and drive Chinese people to spend more at home, Beijing has rolled out a new round of tariff reductions on foreign consumer goods. According to an official statement released by Ministry of Finance on November 24, China plans to reduce tariffs on 187 consumer goods, including cosmetics, … More China’s Tariff Cuts Won’t Hurt Daigou Business For Now
The competition between luxury brands has been intensified. Whether you are in online or offline the situation is pretty much the same. Some of global brands are pretty nicely in both channels and even know the tricks to use in WeChat. However, the question is should you use your own ecommerce site or use the … More Should luxury brands open their own ecommerce sites or use major third-party marketplaces? What you think?
With the increasing presence of Chinese consumers in the global luxury market, an ever-larger number of luxury brands are now turning their attention to China. In hopes of crafting a more engaging shopping experience for Chinese consumers who are less familiar with the social media platforms dominant in the Western world, many luxury brands have … More Luxury Brands’ WeChat Accounts Lack Customer Engagement
Many people would associate outlets with old, cheap, discounted merchandise and remote locations. Discount labels seem to be a comfortable fit for outlet shopping malls, but the outlet empire built by Value Retail is meant to revamp the stereotype, with a concentration on Chinese customers. “The association is however totally wrong. Being visited several Outlets … More Can Outlet Malls Bring Value to Luxury Brands?
The tastes of Chinese luxury shoppers are changing rapidly as the country itself is undergoing a dramatic economic and political transformation. In 2018, luxury brands face the question of how Chinese consumers’ mentalities and behaviors will evolve. The trends having unique implications to the luxury industry can be found here Rest of the trends identified … More Consumer Trends Affecting Luxury Brands in China in 2018
With ever-improving tourism links and visa agreements with countries around the globe, the world has never been a smaller place for Chinese travelers. While a trip to Hong Kong at one point was worthy of bragging rights, it’s now become a staple destination that instills little excitement in China’s increasingly experienced travelers. Read More