Luxury: The new playground for Chinese customers
Published by CB News, 25 November 2019
Luxury brands are now facing strong demand from increasingly sophisticated Chinese customers. But what do they really want? What are their purchasing criteria and how do they find out about buying goods? To find out, the consulting firm Promise Consulting and the marketing and consumer research institute Panel on The Web went to the middle empire to survey the country’s most affluent consumers. And all the answers are in its 2nd barometer “Desirability and exclusivity of luxury fashion brands”.
Luxury is being redefined, its codes changing from one year to the next. Communication, brand accessibility, new retail strategies, if it remains a flagship sector for the wealthy, it also attracts the middle classes. But not surprisingly, it attracts above all very wealthy Chinese consumers. Thus Philippe Jourdan and Jean-Claude Pacitto from the Promise Consulting consultancy firm take stock of the new entrants and exits in this sector. And they confirm the importance of desirability and exclusivity as indicators of commercial and financial performance (for a brand).
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