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
LVMH CEO Bernard Arnault is still concerned that a heavy presence online will damage the reputations of the luxury brands in the group’s portfolio, and that’s shaping how the conglomerate’s digital strategy plays out globally. “We plan to continue investing in digital technology in 2018, but we need to be prudent there, so as not … More LVMH CEO still doesn’t trust that online retail won’t damage luxury brands
Now more than ever, luxury brands are making WeChat a priority. According to a recent Bain study, all 40 of the top brands surveyed had an official WeChat account. But are they doing everything they can with the tools they have? When it comes to WeChat-led omnichannel strategies, there’s some catching up to do in … More Luxury Brands Underestimate WeChat’s Importance Offline
A new report from Deloitte shows a surprising leader among China’s luxury online shopping platforms. According to “China’s Luxury Online Consumption Report”, Secoo (寺库中国), a name unfamiliar even to many Chinese e-commerce fans, has grown to 25.3 percent market. They now have a much larger slice than Net-A-Porter, Alibaba’s Mei.com or JD.com’s Farfetch. On November … More How Secoo Leaps to the Top of Luxury E-Tail in China
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?