In such a context, knowing what Chinese consumers want is crucial. Marketers can’t afford to ignore their infatuation with social commerce , live streaming, and key thought leaders . Above are a few examples of live streaming campaigns Namibia WhatsApp Number List on Taobao Live , a built-in feature of the Taobao e-commerce platform, including Tmall. In China, Internet users appreciate live video content so much that video social networks like Douyu, Huya, YY, Douyin and Taobao Live are now part of their daily life. Chinese customers accounted for 90% of global market growth in 2019 and 35% of the value of luxury goods sold globally .

Source: Bain & Co. It is a new generation of Chinese consumers, new to luxury brands , who will finance the market in the years to come. This new wave is rich in opportunities for brands, but it will also confront them with new challenges. Luxury brands certainly have a wide range of tactics to approach these new segments and make them aware of their values ​​and commitments. But historic luxury homes will still need to pay close attention to what’s going on and keep up with trends to stay competitive and relevant. In the world of digital acceleration, ruled by data and AI, luxury marketing must know how to offer convenience, create links, anticipate what consumers want and offer it to them before they even have it.

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Investment Luxury Brands Target Two Customer Segments

have expressed. 50% of total luxury consumers will be millennials by 2025. Today, Generation Y represents 32% of luxury consumers, but their percentage will increase over the next 5 years. Source: 2019 True – Luxury Global Consumer Insight 6th Edition . 4% of luxury consumers are members of Generation Z, but this demography is expected to increase to 8% by 2025 . Despite this relatively low proportion, Generation Z remains at the heart of all luxury marketing strategies as this audience segment has a strong influence on society as a whole.

Its preferences and consumption habits influence the entire luxury market. Source: Forbes . One of the luxury brands that capitalizes on Generation Z is Gucci. Kerig’s fastest growing label, Gucci enjoys excellent conversions and sales, online and in-store. The HENRY 43 years is the average age of a HENRY. The HENRY (High-Earners-Not-Rich-Yet), that is to say people with high incomes but not yet rich, constitute a class of consumers which started to increase and which will become extremely relevant in the years. future. With a current income of $ 100,000 to $ 250,000, the HENRYs will soon become the richest demographic in the world.

For The Middle Class, Access To Luxury Is Rather Intended To Offer A Unique, Inspiring Experience – It Is A Rarer Pleasure.

Luxury brands have therefore already started to target them by cultivating their appreciation for authenticity, craftsmanship and heritage. Source: Deloitte Global Powers of Luxury Goods 2019 . HENRYs take advantage of technology. They pay online using mobile devices, they prefer credit cards with rewards, and they don’t save a lot because they have no problem with debt. When shopping online – which is a common activity for them – HENRYs opt for clothing and shoes, home furnishings, cosmetics, pet supplies, books, entertainment, and more.

HENRYs need an engaging shopping experience that works seamlessly across multiple channels and touchpoints. HENRYs do more than just basic functions of digital platforms and applications. Their favorite brands are now using emerging technologies to stage a narrative and arouse emotions that integrates them into the creative process and maintains their proximity. Luxury brands like Lolo Chatenay today combine 3D technologies with mass customization to offer tailor-made products to their customers. Here, a simplified 3D bag configurator demonstrator.

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