I like: thechinaobserver | KPMG 8 trends to watch in China’s luxury market

8 Trends to Watch in China’s Luxury Sector

Key outtakes:

  • Experience and self-reward are now as important as status seeking as a purchase motivation
  • Luxury collecting is an increasing trend
  • Digital marketing is a key battleground for consumer brands
  • Taste-maker blogs are the new fashion magazines
  • Branded real-world retail provides reassurance and a crucial part of the purchase experience for big ticket items like watches
  • Market is becoming crowded with luxury brands  – super-saturation?
  • Country brand seems to be as important as product brand – Italy does good leather work and men’s tailoring, France for women’s fashion and cosmetics
  • Brand Europe continues benefits from a strong association to luxury at the expense of other countries