Ok

En poursuivant votre navigation sur ce site, vous acceptez l'utilisation de cookies. Ces derniers assurent le bon fonctionnement de nos services. En savoir plus.

4.k- Tourisme - Page 4

  • Imprimer

    Conference « Luxury & China » [06/30] Sharing the event’s most important moments [#promiseconsulting @adetem]

    [VIEW THE PICTURES ON FLICKR]

    luxury,china,promiseconsulting,fashion,jewellery

    Conference « Luxury and China: insights and perspectives for 2016 and beyond » [06/30] Sharing the event’s most important moments [#promiseconsulting @adetem]

    On Thursday, June 30, 2016, at the Café l’Adjugé in Paris, Promise Consulting hosted a conference on "Luxury and China: the challenges and perspectives for 2016 and beyond”.

    In total 40 people, professionals from top luxury brands, journalists and consultants in the world of luxury, fashion, beauty and tourism, participated in the breakfast conference initiated by Promise Consulting at the prestigious Parisian auctioneers Drouot from 8:30am to 10:30am.

    luxury,china,promiseconsulting,fashion,jewellery

    Continuing a series of lectures on trends and perspectives regarding the development of the world luxury market, Philippe Jourdan, founding partner and Chunyan Li, Senior Consultant and China specialist, combined their expertise and presented together a broad overview of the opportunities and challenges of the Chinese luxury market:

    - On the one hand, the cyclical factors were isolated from the structural ones to discern the growth opportunities in a certainly more "bumpy" economic context. Additionally, the conference outlined new and interesting opportunities for Western luxury brands.

    - On the other hand, the enriching insights of the specialist in Chinese culture took into account the emergence of new expectations, especially of those of younger generations, vs the ones of the luxury goods generations.

    THEY ATTENDED THE CONFERENCE AND SHARED THEIR OPINION 

    "UN GRAND MERCI POUR LA CONFERENCE CONCERNANT LA CHINE, AS ALWAYS INSIGHTFUL, INTERESTING, IN DEPTH AND EASY TO UNDERSTAND" - BENJAMIN, LUXENDREAM

    "MERCI ENCORE POUR HIER. C'ETAIT TRES INTERESSANT, D'AUTANT PLUS QUE LA CHINE REPRESENTE UN DE NOS PLUS GROS MARCHES.  REMERCIEZ POUR MOI CHUNYAN ET PHILIPPE POUR LEUR PARTICIPATION" - LUCAS, LACOSTE

    "JE TENAIS EGALEMENT A VOUS REMERCIER POUR L'ORGANISATION DE CETTE BELLE CONFERENCE OU NOUS AVONS APPRIS BEAUCOUP GRACE A UNE PRESENTATION TRES CLAIRE" - CAMILLE, CHANEL

    "GRAND MERCI POUR CETTE CONFERENCE TRES INTERESSANTE QUI M'A DONNE UN AUTRE REGARD SUR BIEN DES SUJET. ELLE FUT RICHE EN ENSEIGNEMENTS ET TRES CONVIVIALE. BRAVO POUR LE TIMING CAR LE FAIT QU'IL N'Y AIT PAS EU DE DERAPAGE M'A PERMIS DE PROFITER DES CONCLUSIONS" - VINCENT, KPMG

    THE SPEAKERS' POINT OF VIEW ABOUT THE CONFERENCE

     CHUNYAN LI

     

    Philippe Jourdan


    CHINA: AN ECONOMY IN TRANSITION

    Both speakers started with a reminder of some important economic indicators which are necessary to develop and establish a healthy Chinese economy in the World: a slowing but still positive growth, the recent devaluation of the Yuan but with forecasts that should take into account the political will of the Chinese authorities to reduce their dependence of the dollar (and primarily of the US debt).

    Based on this perspective, the Chinese economy is in the transition from a "Made IN China" through a "Made BY China" to a "Made FOR China" culture, although the share of GDP devoted to domestic consumption and expenditure of the Chinese government is still behind compared to those traditionally reserved for investment and net exports.

    luxury,china,promiseconsulting,fashion,jewellery, slowdown, debt, economy

    [CLICK TO ENLARGE]

    A LUXURY ECONOMY WHICH IS VERY (TOO) DEPENDENT OF CHINESE TOURIST PURCHASES

    In 2000, 10 million tourists traveled the world. During the year 2020, 200 million Chinese tourists are expected to travel abroad. In 2015, they were nearly 105 million to move beyond the Chinese borders. Of course, the first regional destination remains by far Asia. However, while the movements and trips to Hong Kong have recognized a slow-down (in response to the sinophone manifestation of the residents of Hong Kong), the Chinese tourism presents a good performance in France despite its unfavorable security environment. In the end, nearly 77% of the Chinese luxury goods purchases ("personal luxury goods") are realized abroad (24% in Asian countries nearby and 53% outside this sphere).

    luxury,china,promiseconsulting,fashion,jewellery, tourism

    [CLICK TO ENLARGE]

    CHINA: "IT IS ALL ABOUT DIGITAL, IDIOT"

    With more than half of the connected population (50.3%), nearly 3h45 spent on average per day on digital networks and 594 million Chinese connected to their mobile phones, the Internet plays a vital and inescapable role regarding the Chinese communication and information research methods. And we go even one step further: with an increasing tendency, the Chinese are getting more and more likely to realize online purchases to such an extent, that the online US trade is expected to be exceeded by the end of 2016 (forecast: $ 371 billion of Chinese purchases against $ 326 billion for the US).

    The Chinese digital landscape has obviously its specifics and is very different from the one of the Western countries. For each type of digital application developed in the West (search engines, social networks, networks of micro-chats and micro-blogging, etc.) there exists a Chinese version, which is far away from just being a clone of its Western counterpart. In particular, among all social networks, Weibo, the Chinese Twitter, and WeChat, a combination of Facebook, WhatsApp and Skype, have become the companies’ most preferred promotion tools. They have respectively reached the 222 million and 650 million active users in 2015.

    luxury,china,promiseconsulting,fashion,jewellery

    [CLICK TO ENLARGE]

    THE CHINESE CULTURE: BETWEEN GUANXI AND MIANZI

    digital, luxury,china,promiseconsulting,fashion,jewellery

    [CLICK TO ENLARGE]

    According to a Chinese proverb, “Just as a tree needs bark, someone needs his face". The culture of Mianzi ("face") attaches great importance to the various forms of respect, social acceptance and recognition. Everybody lives in and through the eyes of others: a trend of the Chinese elites is therefore to systematically compare themselves to others in terms of both criteria, professional and personal success. Luxury goods subsequently allow the wealthy Chinese to materialize and demonstrate their social status and financial situation to others and thus shape the image they wish to send to those around them (...).

    In China, "the formality must be mutual". Indeed, the Chinese highly value social relationships within their close circle, also known as the famous “Guangxi”. Having a good "Guanxi" allows the Chinese to benefit from mutual support and to proceed or solve problems faster. Finally, the favor – also called "RenQuing" in Chinese - can be a real credit or a true debit. Seen from this perspective, offering a valuable gift, no matter if it is a product or a powerful experience also enhances the "face" ("Mianzi") of the interlocutor (…).

    THREE GENERATIONS OF LUXURY BRANDS CLIENTS IN CHINA

    Nowadays there are three clearly identified generations of luxury goods consumers in China, which strongly differ in terms of their profile, expectations and their luxury experiences.

    digital, luxury,china,promiseconsulting,fashion,jewellery

    [CLICK TO ENLARGE]

    The first generation is the one of the Baby Boomers. Born between 1950 and 1964, they fully lived in the era of President Mao, wherefore their state of mind is marked by nationalism and idealism and their life shaped through the frugality they recognized during their youth. The Cultural Revolution presents for them a strong reminder of the sustainable weakening of traditional and ancestral values ​​of the Chinese society, whereby some of them reminisce still about the great famine of 1958 to 1961. Being in the position to make decisions and confident about their power, they combine both, power and wealth, which enables them to get everything they want, and of which they were deprived in the first part of their lives.

    The second generation is the Generation X (1965-1979). The children of the economic reform, initiated in 1978, were educated by MAO and trained by Bill Gates. This high tension has caused confusion and a certain sense of insecurity among them. This fact represents the reason for their opportunistic behavior and their search and need for material security. They were among the first to consume luxury goods, whereby 60% of them purchase these products to increase their self-esteem. Approximately 80 % of the Chinese private companies are run by representatives of this generation.

    The third generation is the Generation Y (1980-1995).  Since their early childhood, people of this generation benefited enormously from the economic reform, without having gone through very difficult times. Generation Y is confronted with a wide variety of consumer choices, wherefore their behavior and habits westernize, although they kept their Chinese roots. Ordering a Big Mac at McDonalds' or a coffee at Starbucks, using the iPhone or iPad to connect themselves to the Internet and chat with strangers, or buying products on WeChat or e-commerce websites, became part of their daily lives.

     THE FRENCH LUXURY BRANDS THAT REMAIN VERY APPRECIATED

    The Conference concluded with the presentation of the results of the Barometer Front Row, jointly conducted by Promise Consulting and Exane BNP. This barometer measures for different countries the Exclusivity and Desirability of Luxury Brands in the world of fashion (ready-to-wear, bags and shoes) as well as for the domain of Cosmetics (perfumes, skincare and makeup).

     [TO VISUALIZE THE COMPLETE RESULTS CLICK HERE]

    digital, luxury,china,promiseconsulting,fashion,jewellery

    TO CONTACT US

    Do you want to know more? Do you have a project on China? Do you want to know our offer on international studies in the segments luxury brands, beauty and selective distribution?

     

    luxury,china,promiseconsulting,fashion,jewellery, valerie jourdan

    ABOUT PROMISE CONSULTING

    Promise Consulting is a company specialized in marketing studies and consultancy, issued from the merge of Promise Consulting Inc., JPL Consulting and Panel on the Web.

    Promise Consulting integrates services of market research and marketing consultancy delivered with a high added value. We created an innovative measuring methodology of a brand’s performance and its return on investments (ROI): the “Monitoring Brand Assets ©”. This methodology, deployed in nearly 50 countries, has surveyed 250 brands in multiple sectors, totaling over 1,5 millions questionnaires. 

    Established in Paris, New-York and Casablanca, Promise Consulting conducts studies and services of consultancy in the whole world. Promise Consulting is mostly known for its expertise in measuring a brand’s value from the clients’ perspective.

    Promise Consulting has developed innovative techniques and models, was awarded 7 times in 10 years, by its Peers nationally and internationally. It provides insights and recommendations to the most notorious brands in luxury, cosmetics and retailing sectors, helping them develop on national and foreign markets. It is also active in several sectors of the industry, every time the brands are looking for an effective growth strategy in order to better understand the market, to reach their customers, attract them and, finally, keep them.

    Pr Philippe Jourdan, CEO of Promise Consulting, is the editor-in-chief of Adetem’s journal, the French Journal of Marketing (Revue Française de Marketing, RFM), since 2011. He publishes in academic journals internationally on the problems of the valuation of the brands in luxury, beauty and selective distribution. He also publishes in the economic press and news media (such as Le Monde, les Echos, le Figaro, l’Opinion, la Revue des Marques, etc.). Philippe is a university professor, researcher at the IRG (CNRS) and laureate of the Best Article of Research AFM 2000. He holds a certification in social media.

  • Imprimer

    Conférence "Luxe et Chine" [30/06] Partageons les temps forts de l'événement [#promiseconsulting @adetem]

    [RETROUVER LES PHOTOS SUR FLICKR]

    adjuge, drouot, chine, luxe, promiseconsulting

    Par Pr Philippe Jourdan et Chunyan Li

    Le Jeudi 30 Juin 2016, au Café l'Adjugé, au sein de la prestigieuse maison de ventes Drouot, Promise Consulting a animé une conférence sur le thème "Luxe et Chine : enjeux et perspectives pour 2016 et au-delà". 

    40 personnes au total, professionnels dans les plus grandes maisons du luxe, journalistes et consultants dans les univers du luxe, de la mode, de la beauté et du tourisme, se sont retrouvées à l'occasion d'un petit-déjeuner Conférence, de 8h30 à 10h30, donné par la société Promise Consulting. 

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

    Poursuivant un cycle de conférences sur les tendances et les perspectives de développement du marché du luxe dans le Monde, Philippe Jourdan, associé fondateur, et Chunyan Li, consultante senior, spécialiste de la Chine, ont présenté un vaste tour d'horizon des perspectives et des enjeux du marché du luxe chinois avec une double volonté. D'une part isoler les facteurs conjoncturels des facteurs structurels, afin de discerner les opportunités de croissance dans un contexte économique certes plus "chahuté" mais porteurs également de nouvelles opportunités pour les marques de luxe occidentales. D'autre part, apporter l'éclairage d'une spécialiste de la culture chinoise afin de prendre en compte l'émergence d'attentes nouvelles, en particulier celles des plus jeunes générations vis-à-vis des produits de luxe.

    CE QU'ILS ONT RETENU DE CETTE MANIFESTATION

    CHUNYAN LI 

     

     

    PHILIPPE JOURDAN

     

     

    UNE ECONOMIE EN PHASE DE MUTATION

    Les deux conférenciers ont dans un premier temps rappelé quelques indicateurs économiques qui permettent de dresser un état de santé de l'économie chinoises dans le Monde : une croissance ralentie mais toujours positive, une dévaluation récente du Yuan mais avec des prévisions qui doivent prendre en compte la volonté politique des autorités chinoises de réduire leur dépendance vis-à-vis de la monnaie américaine (et en premier lieu de la dette américaine). Dans cette perspective, la transition de l'économie chinoise du "Made IN China" vers le "Made BY China" puis vers le "Made FOR China" se poursuit, même si la part du PIB consacré à la consommation intérieure et aux dépenses de l'Etat Chinois demeure encore en retrait, par rapport à celles traditionnellement réservées aux investissements et aux exportations nettes.

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

    [CLIQUER SUR LA PHOTO POUR ÉLARGIR]

    UNE ECONOMIE DU LUXE TRÈS (TROP) DÉPENDANTE DES ACHATS DES TOURISTES CHINOIS

    En 2000, 10 millions de touristes ont parcouru le Monde. En 2020, une projection situe à 200 millions le nombre de touristes chinois qui se rendront à l'étranger au cours de l'année. En 2015, ils ont été près de 105 millions à se déplacer en dehors de la Chine. Certes, la première destination régionale reste, et de loin, l'Asie, avec toutefois un ralentissement des déplacements à Hong-Kong (en réponse aux manifestations sinophobes de la population résidente à Hong-Kong) et une bonne tenue du tourisme chinois en France, malgré un climat sécuritaire peu favorable. Au final, près de 77% des achats de produits de luxe ("personal luxury goods") achetés par les Chinois le sont à l'étranger (dont 24% dans les pays asiatiques proches et 53% en dehors de cette sphère).

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

    [CLIQUER SUR LA PHOTO POUR ÉLARGIR]

     CHINE : "IT IS ALL ABOUT DIGITAL, IDIOT"

    Avec plus de la moitié de la population connectée (50,3%), près de 3h45 passé en moyenne par jour sur les réseaux digitaux, et 594 millions de Chinois connectés depuis leur Mobile, Internet est une réalité incontournable du paysage chinois en matière de communication et de recherche d'informations. Un constat qui se double d'une autre réalité : les Chinois sont de plus en plus nombreux à acheter en ligne et devrait dès la fin de l'année 2016 dépasser le commerce américain en ligne avec une projection d'achats de 371 milliards de dollars contre 326 milliards de dollars pour les US.

    Certes, le paysage numérique chinois comporte ses spécificités et est très différent de celui de l'Occident. A chaque type d'applications digitales développées en Occident (Moteur de recherche, Réseaux Sociaux, Réseaux de Micro-Chats et de Micro-Blogging, etc.), correspond sa version - et pas seulement son clône, loin s'en faut - chinois. En particulier, parmi tous les réseaux sociaux, Weibo, le Twitter chinois, et WeChat, une combinaison de Facebook, WhatsApp et Skype, sont devenus les outils de promotion les plus privilégiés par les entreprises. Ils comptent respectivement 222 millions et 650 millions d’utilisateurs actifs en 2015.

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

    [CLIQUER SUR LA PHOTO POUR ÉLARGIR]

    LA CULTURE CHINOISE : ENTRE GUANXI ET MIANZI

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

     [CLIQUER SUR LA PHOTO POUR ÉLARGIR]

    "De même qu'un arbre a besoin de son écorce, une personne a besoin de sa face", selon un proverbe chinois. La culture du Mianzi consiste ("face") accorde une grande importance aux formes de respect et de reconnaissance. Chacun vit sous et par le regard des autres : une tendance des élites chinoises est donc de se comparer systématiquement aux autres, selon des critères de réussites professionnelles ou personnelles. Les produits de luxe permettent donc aux Chinois les plus fortunés de matérialiser aux yeux des autres leur statut social, leur situation financière et de façonner ainsi l'image qu'il souhaite renvoyer à leur entourage (...).

    En Chine, "la formalité doit être réciproque". Les Chinois attachent une grande importance aux relations sociales, autrement dit au fameux Guangxi avec son cercle de proximité. Le fait d'avoir un bon "Guanxi" permet de bénéficier de soutien mutuel et de procéder ou de résoudre les problèmes plus rapidement. Enfin, la faveur - "RenQuing" en Chinois - peut constituer un crédit ou un débit. Dans cette optique, offrir un cadeau de valeur, que ce soit un produit ou une expérience marquante valorise également la "face" ("Mianzi") de son interlocuteur (...).

    TROIS GÉNÉRATIONS DE CLIENTS DU LUXE EN CHINE

    Il existe désormais trois générations clairement identifiées de consommateurs de produits de luxe en Chine, qui diffèrent fortement par leur profil, leurs attentes et leur expérience du luxe.

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars

     [CLIQUER SUR LA PHOTO POUR ÉLARGIR]

    La première génération est celle des Baby Boomers. Nés entre 1950 et 1964, ils ont pleinement vécu sous l'ère du Président Mao et montrent un état d'esprit marqué par le nationalisme, l'idéalisme et une vie marquée dans leur jeunesse par la frugalité. La Révolution Culturelle a marqué pour eux une fragilisation durable des valeurs traditionnelles et ancestrales de la société chinoise et certains d'entre eux se remémorent la grande famine de 1958 à 1961. En position de décideurs, sûrs de leur pouvoir, ils associent le pouvoir et la richesse, qui leur permet d'obtenir tout ce qu'ils souhaitent et dont ils ont été privés dans une première partie de leur vie.

    La deuxième génération est celle de la Génération X (1965-1979). Enfants de la réforme économique entamée en 1978, ils ont été éduqués par MAO mais formés par Bill Gates. Cette tension forte a donc entraîné, chez eux, un désarroi et un certain sentiment d’insécurité. Raison pour laquelle cette génération se montre d’abord opportuniste et recherche la sécurité matérielle. Ils ont été parmi les premiers à consommer des produits de luxe, 60 % d’entre eux achètent ces produits pour augmenter leur estime de soi. Environ 80 % des entreprises privées en Chine sont gérées par des représentants de cette génération. 

    La troisième génération enfin est celle de la Génération Y (1980-1995). Elle a été la grande bénéficiaire de la réforme économique et ce, dès son enfance, sans avoir traversé de périodes très difficiles. Elle se retrouve confrontée à une grande variété de choix de consommation. Par conséquent, même si elle garde une racine chinoise, ses comportements et ses habitudes de consommation s’occidentalisent. Prendre un Big Mac au Mc Donalds’ ou un café au Starbucks, utiliser l’Iphone ou l’Ipad pour se connecter sur Internet et discuter avec des inconnus, ou encore, s’acheter des produits sur WeChat ou des sites de e-commerce, fait partie de leur vie quotidienne.

    LES  MARQUES DE LUXE FRANCAISES QUI DEMEURENT TRES APPRECIEES

    La Conférence s'est conclue sur la présentation des résultats du Baromètre Front Row mené conjointement par Promise Consulting et BNP Exane. Ce baromètre mesure dans différents pays l'Exclusivité et la Désirabilité des Marques de Luxe dans les univers de la Mode (prêt-à-porter, sacs et chaussures) et des Cosmétiques (parfums, soin et maquillage). 

    [RETROUVER L'INTEGRALITE DES RESULTATS EN CLIQUANT ICI]

    adjuge, drouot, chine, luxe, promiseconsulting, pib, chine, dette, dollars, exclusivité, desirabilite, mode

     NOUS CONTACTER

    Vous souhaitez en savoir plus ? Vous avez un projet sur la Chine ? Vous souhaitez connaître notre offre en matière d'études internationales dans l'univers des marques de luxe, de la beauté et de la distribution sélective ?

    chine,luxe,marketing,economie,yuan,mode,chanel,dior,lvmh

    A PROPOS DE PROMISE CONSULTING

    Depuis 2000, Promise Consulting, anciennement Panel On The Web, permet aux décideurs de prendre les bonnes décisions.

    Grâce à un accompagnement et des études scientifiques ad hoc, Promise Consulting renforce le lien entre les belles marques et les clients tout en maximisant leur retour sur investissement marketing. Grâce à ses équipes du Conso Lab et du Luxury Lab, Promise Consulting délivre une expertise pointue en études de marché et d’optimisation des marques dans les univers de la consommation, de la distribution, du luxe et de la beauté. La société est établie à Paris et à New-York. Elle dispose de panels online dans plus de 35 pays en Europe, Amérique, en Asie et en Afrique. 

    Elle a créé une méthodologie innovante de mesure de la performance de marque et du ROI des investissements centrés sur la marque : Monitoring Brand Assets©. Cette méthodologie a été déployée dans près de 50 pays à date, porte sur l’étude de 250 marques dans les secteurs les plus divers et totalise plus de 1.000.000 questionnaires administrés en ligne dans le monde. Récompensée 8 fois en 12 ans, par la profession au plan national et international pour ces méthodologies innovantes, Promise Consulting accompagne les plus grandes marques de luxe, de cosmétiques et de distribution dans leur développement tant sur les marchés français qu’internationaux. La société intervient également dans de nombreux secteurs d'activité, chaque fois que les marques souhaitent disposer d'une stratégie de croissance éclairée pour mieux comprendre leur marché, s'adresser à leurs consommateurs, séduire et fidéliser leurs clients.

    Lire la suite

  • Imprimer

    Chanel s'invite à la Havane pour un défilé inédit, symbole de l'ouverture au Monde de l'Ile [#promiseconsulting #chanel @chanel #luxe]

    Posted by Pureactu.com | 4 Mai, 2016 | Pure Buzz |

    Devenue The place to be, l’île de Cuba vient d’accueillir un défilé signé Chanel. Après les Rolling Stones, l’opération séduction du gouvernement cubain continue avec un défilé haute couture proposé par la célèbre maison de luxe parisienne. Un événement clinquant, symbole d’un capitalisme triomphant.

    Sur le Paseo del Prado, boulevard à ciel ouvert à 300 mètres de la mer décoré pour l’occasion, le luxe s’est imposé.

    La prestigieuse marque a choisi la Havane pour son premier podium en Amérique latine et pour dévoiler sa nouvelle collection bourrée de références à la culture de l’île avec ses sombreros typiques, ses cigares et ses vieilles voitures. Artistes et officiels cubains, mais aussi célébrités d’Hollywood, comme Vin Diesel et Tilda Swintonou, ont assisté au défilé, accessible sur invitation uniquement. (...) 

    « Finalement, le monde s’ouvre à Cuba. Tout le monde veut connaître la pomme interdite, tout le monde veut la découvrir, la savourer, en profiter, l’explorer », a déclaré à l’AFP Mariela Castro, fille du président Raul Castro et directrice du Centre national d’éducation sexuelle.

    [LIRE L'ARTICLE EN ENTIER]

  • Imprimer

    [Figure You Should Know] – +53% number of African millionnaires by 2024 [#economy #luxury #promiseconsulting]

    The number of African millionaires might be higher by 2024, numbering around 258,000 millionaires, which equates to a rise of 53%. Africa is still largely underestimated and is slowly gaining ground on that market: 80% of luxury monobrand stores are operating in Morocco and South Africa.

    Also, KPMG states that the ultra-wealthy individuals are mostly going to South Africa (Cape Town and Johannesburg) or to Morocco in Marrakech – which is attracting luxury hotel investors, as noted by CPP Luxury – and Casablanca.

    Luxury goods for men, such as men’s clothing, watches, accessories, jewellery, etc., play a major role as they still have a higher income than women and are popular amongst wealthy men of power.

    Source: Bloomberg - KPMG - CPP Luxury

    You would like to know more about Promise Consulting? Blog Promise Consulting

  • Imprimer

    Chinese travel spending shifts from Hard Luxury to Premium Necessities [#luxury #necessities #china #tourism]

    FROM THE JING DAILY - APRIL, 20, 2016 - JENIIFER JAPP

    Recent consumer surveys show that Chinese shoppers are more focused on premium everyday necessities, which is influencing how they make purchasing decisions abroad. A survey conducted by the FTConfidential Research unit at the Financial Times found that Chinese shoppers are more likely to avoid discretionary spending, especially when it comes to high-end fashion accessories like handbags, jewelry, and watches. This marks what the FT calls an “upheaval” in consumer spending patterns overseas, which is happening in tandem with changing habits at home.

    According to an article published in FT last month, there was “a 10.2 per cent year-on-year growth in retail sales in the first two months of the year, down from a full-year 10.7 per cent in 2015 and 12 per cent in 2014.” Their survey asked 1,318 overseas Chinese tourists about their spending habits, and while they reported “they were less likely than previously to buy big-ticket items such as luxury handbags, jewelry and watches while traveling abroad,” they expressed interest in spending on cosmetics, clothing, electronics, and souvenirs, similar to results from a year before.

    FT’s explanation for the reduced discretionary spending on high-end items like jewelry, watches, and handbags abroad is, in part, the rising reliance on cross-border e-commerce coupled with the fact that domestic prices for these goods are not as high as before. But the playing field is ever-changing—tax hikes on cross-border e-commerce announced early this month have thrown luxury industry professionals and shoppers for a loop.

    Still, when Chinese shop abroad, they are increasingly focused on a different type of shopping spree. This includes an emphasis on looking for homegrown luxury brands, such as Coach in the United States, according to a recent survey. But with a bigger focus on health and quality products domestically, Chinese shoppers are also searching out more premium everyday necessities that are difficult to come by at home, and some of these shopping patterns are also molded by the latest safety concerns and unmet demands for new lifestyle trends.

    After Chinese New Year, Xinhua reported on some of the most coveted items for Chinese consumers, broken down according to the various regions they were traveling to. To mitigate safety concerns, Chinese shoppers were buying items like high-end rice and sanitary pads in Japan—many consumers don’t trust the ones at home, as reports surfaced two years ago that some pads made in China contained a chemical that causes cancer. Chinese shoppers also bought condoms manufactured by the leading Japanese brand Okamoto, dodging the fakes pervading the market in China.

    Meanwhile, Chinese consumers are seeking out products that will meet heightened standards for health and wellness, like protein powder from the United States. The Wall Street Journal said GNC’s sales rose almost 43 percent last year as an interest in hitting the gym swept Chinese shoppers. Chinese consumers are also buying more electric toothbrushes—a favorite purchase in Europe according to the Xinhua survey—and taking advantage of access to basic over-the-counter health care products like painkillers and vitamins in Japan. In Australia, a Chinese firm acquired supplement maker Swisse Wellness in part due to huge demand from overseas Chinese travelers.

    These shifting shopping strategies are propelled by a group of outbound tourists whose spending outside of China is quickly rising (they spent $215 billion last year, up from $140 billion the year before), and overseas brands are clearly taking note.

    [READ THE FULL ARTICLE]

  • Imprimer

    Retrouver les photos de la Conférence Luxe et Chine, Parole d'experts, Printemps des Etudes sur Flikr

    Chers auditeurs, chers clients, chers visiteurs, 

    Vous avez aimé la Conférence "Luxe et Chine: enjeux et perspectives", Parole d'Experts, Printemps des Etudes, animée par Pr Philippe Jourdan et Chunyan Li, Promise Consulting ?

    => Retrouvez les moments forts de cet événément et téléchargez les photos: [FLICKR]

    Vous n'avez pas pu être présent, mais vous souhaitez reprendre contact avec nos équipes en vue de planifier votre présence à une prochaine réédition ?

    Vous souhaitez discuter de la possibilité de rééditer cette conférence dans vos locaux à vos équipes (en Français ou en Anglais) ?

    => Prenez contact avec Valérie Jourdan (valerie.jourdan@promiseconsultinginc.com ou +33 6-09-31-65-19) pour connaître le planning des prochaines rééditions de cette Conférence sur l'année 2016 ou planifier la possibilité d'animer cette conférence dans vos locaux.

  • Imprimer

    #Luxury goods spending by #Chinese #tourists down 24 per cent in March: #GlobalBlue [#promiseconsulting]

    PARIS - Spending on luxury goods by Chinese shoppers abroad fell last month for the first time since such records began in 2010, leading to the worst ever monthly result for the luxury goods industry's tourist sales, retail tax-refund services company Global Blue said on Friday. 

    Spending by Chinese tourists in March tumbled 24 per cent, dragged down by a 35 per cent year-on-year drop in Europe, where the Paris and Brussels attacks have kept some tourists away.

    A reduction in the price gap with Europe has also lifted spending within China.

    "The slowdown in Europe is due to a tougher comparison, the impact of the terrorist strikes and the effect of the introduction of biometric visas, although the overall growth of the Chinese consumer globally has slowed and remains a concern,"Barclays analysts said of the figures.

    Global Blue data showed that overall tourist spending on luxury items fell 14 per cent in March after rising 4 per cent in February.

    The firm's figures do not include tourism spending in the United States, Hong Kong and Dubai, which do not have value-added tax refund systems.

    Luxury goods industry leader LVMH and British luxury fashion brand Burberry both said this week that they had seen a drop in tourist spending in continental Europe.

    For some big luxury brands such as Cartier and Louis Vuitton tourists account for more than 50 per cent of customers in certain European markets. Chinese consumers account for almost a third of the global luxury goods market.

    After the attacks on Brussels and Paris, LVMH said there had been fewer visitors travelling to Europe "from the East", its term for Russia and Asia. Burberry added that tough market conditions would hit profit in the year ahead.

    Global Blue said Russian tourist spending fell 22 per cent last month, weighed on by a drop in the value of the rouble and the weak home economy which has been hit by lower oil prices and continuing international sanctions over Ukraine.

    Last week consultancy Bain & Co forecast that the luxury goods market would reach a low point this year, due to lower levels of tourists travelling to Europe, depressed trading in Hong Kong, weaker demand in China and a relatively subdued US market.

    [LIRE L'ARTICLE COMPLET]

  • Imprimer

    [Figure You Should Know] – 50 years old [#ecommerce #luxury #promiseconsulting @printempsetudes]

    Chinese consumers in the age group of 50 (or above) tend to make less online purchases than any of the other age groups. We can assume they are not technology-driven users, though it is actually not the case.

    According to a report by KPMG (2015), Chinese consumers over 50 years old are barely buying products online, even though 45% of them are quite well-off (RMB 50 000 and higher). Furthermore, 73% of them seems to never purchase products online.

    However, they are more likely to make online purchases of services such as hotel reservations (47%), restaurant bookings (35%) or domestic trips (32%), which shows that they are still quite a good niche.

    KPMG highlights an issue on that matter: older generations are overlooked by brands in their marketing strategy, although they might be a meaningful niche, especially regarding services.

    Source : KPMG

    You would like to know more about Promise Consulting? Blog Promise Consulting

  • Imprimer

    [Figure You Should Know] – 30% [#retail #brands #luxury #promiseconsulting @printempsetudes]

    Shopping is one of the main reason of travelling for wealthy Chinese consumers. Luxury goods bought overseas are either purchased for personal use, either for gifting, even though the latter is not as popular as it was two years ago, declining for 30% in two years. As a matter of fact, according to a survey by Hurun (2015), 82% of “super travelers” are shopping on their behalf.

    Xi Jinping’s anti-corruption policies had a negative impact on the luxury goods market in China, which is why gifting products from brands of high value that were used as bribes aren’t as common as they were before. Since it is strictly forbidden and is applied inside China, wealthy Chinese consumers are now shopping abroad especially for personal use.

    Source: Hurun Report - Financial Times

    You would like to attend to the Conference in Paris, 04/14, 8:30-10:30 AM[CLICK HERE]

    You would like to know more about Promise Consulting? Blog Promise Consulting

  • Imprimer

    [Figure You Should Know] - $253 Billions [#luxury #expenditures #world #promiseconsulting @BainAlerts]

    This is the amount associated to the worldwide personal luxury goods market for the last year and estimated by Bain & Co. It was expected to grow – from 2014 to 2015 – only at 1 to 2 % at constant exchange rates and 13% at current exchange rates. This market should weigh for 24% of the total amount accounted of 1 044 billions €.

    Personal luxury goods includes fashion, cosmetics and jewellery amongst others.

    Slowing down little by little over the years even though they are still among the top in this segment, China seems to suffer from this impact on its economy.

    Chinese’s preferences now went to a less materialistic way of living and are favoring traveling or spas, purchases that influences their well-being. Also, Chinese prefer to shop abroad, as the consumption tax and import tariff impede their spending and since they are willing to buy original and authentic goods that they are most likely to find outside their country.

    Source : Bain & Co, Global Luxury Report, 2015

    You would like to attend the Conference in Paris, 04/14, 8:30-10h30 AM : [CLICK HERE]

    You would like to know more about Promise Consulting? Blog Promise Consulting