Chinese consumers now make up around a third of all luxury purchases globally, correspondingly high end brands are forced to fine tune their China-specific marketing strategies. As per Chris Maier, MD of Analytics, Research & Insight at Publicis Media for Greater China, the vast social influence of the Middle Kingdom has shifted the ‘Made in China’ moniker to ‘Made for China’. More and more global brands, especially in the luxury sector, are creating China-specific products with local bents to cater to the key consumers.
A Publicis Media study of 1,000 luxury consumers across North Asia, including China, went deep into the way luxury resonates in the lives of consumers, including attitude, behaviour and time spent. One insight was that China continues to push ahead as the most digitally native and highly digital-social culture, particularly in the information gathering process before a purchase.
Maier says, across the consumer’s journey – from awareness to research and consideration to purchase – e-commerce reviews landed as the top touch point influence, barring reviews and recommendations on TV and OTV. Recommendations rated high, but the go-to point is online retail. To dig into the Chinese market, numerous luxury brands are now creating product lines targeted at the Chinese market. Maier points out to luxury fashion retailers LVMH and Loewe as first movers. Maier says China consumers are, justifiably, voicing specific wants for unique, locally relevant products to go with their new-found authority on the world stage. If brands are to successfully manoeuvre in this new consumer age, uniquely fitting the what, where and how together is the trifecta for success.