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7-...In English of Course... - Page 17

  • 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]

  • Marriage Market Takeover and #SKII: a lesson in #humanity and #optimism [@plaubignat @ygourven @SKII_ID #promiseconsultinginc #beauty]

    I discussed in a recent post the emotion I felt when I visualized the last campaign of the cosmetics brand SKII "Marriage Market Takeover".

    What is the "Marriage Market"? This is a place where parents show off their daughters who are over 25 years old so that they can find the true love. These young women are seen as a shame by the society and even among their own families as a married woman is the main insurance for grand-fathers and grand-mothers that they will be taken care of when they get retired (as pensions are still almost inexistent in China). The pejorative term exists to design them, "Sheng Nu" which might be translated by "Takeover Women".

    marriage, marriage market takeover, skII, SKII_ID

    Well, story could have ended up like this. But sometimes there are some miracles on the social networks. I was contacted by the person in charge of the digital communication of the brand following my initial post and I was adressed a very kind mail telling me more about the brand's objectives and above all about the destiny of these women deliberately highlighted in this short documentary that sparked a huge amount of attention and conversation online.

    For those of my followers that were also removed by this story and want to know more about the fate of these young women, discover three of their individual interviews below by clicking on their image and share it with relatives and friends. 

    [HU TING - 35 years - Procurement Department of a Pharmacuetical Company]

    marriage, marriage market takeover, skII, SKII_ID

    [ZHU LI - 36 years - Editor for a Magazine]

    marriage, marriage market takeover, skII, SKII_ID

    [WANG XIAO QI - 27 years - Teach acting in a Kindergarten]

    marriage, marriage market takeover, skII, SKII_ID

    Again, thank you for this initiative and for the supplied information and material. A beautiful illustration that the CSR is not a hollow concept when it comes to defending the cause of women around the world.       

     

  • 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.

  • [Figure You Should Know] – 126% [#cosmetics #beauty #promiseconsulting]

    promiseconsulting,beauty,cosmetics,korea

    K-pop idols (Korean celebrities) appear to have an effect on the Chinese cosmetics market. As a matter of fact, a research from L2 entitled “The Beauty China: The Rise of Korean Brands” highlights the huge impact that South Korean beauty products have on this market in China – which is 126% higher than last year – and the fact that these products are now ¼ of those imported to China, mostly online.

    This skyrocketing trend can be explained by the significant impact of Korean celebrities and K-pop culture on China’s TV. This is illustrated on Kering as being a “bridge between the Chinese and western cultures” and especially on western hobbies, promoted through Korean series.

    Source : Luxury Daily - China Daily - Kering

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

  • [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

  • #Promiseconsulting and #exaneBNP, Awarded the Silver Trophy in the “Quality of the Deliverables” category for their Exclusivity & Desirability Barometer for China 2015.

    Promise Consulting wins the Silver Trophy in the “Quality of the Deliverables” category for the First Edition of “Studies & Innovations” Trophies, at the Fifth Annual Printemps des Etudes, in Paris, 14-15th April 2016.

    promiseconsulting, printempsetudes

    Valérie Jourdan, CEO Promise Consulting

    “This prize, awarded by the Profession during the 2016 edition is of particular significance.

    First of all, it is the 9th prize given to Panel on the Web, now Promise Consulting, in 15 years, carrying out a policy of continuous innovation and research in the fields of marketing and consultancy.

    For the quality of our deliverables, it holds a key dimension in our careers to which we attach importance, since our deliverables contains our expertise, added value and the strength of our recommendations to our clients.

    Finally, this prize is awarded for the “Front Row” Barometer carried out with Exane BNP to measure the exclusivity and desirability of the luxury brands in the world. This barometer, awarded for the measure realized in China, December 2015, is about to become the reference barometer in this profession for the attractiveness and the value of the luxury brands from an internal market perspective and its clients.

    See you in May 2016 for the American edition of this barometer.”

    promiseconsulting, printempsetudes

    Philippe Jourdan, CEO Promise Consulting

    “The “Front Row” study shows our desire to bring marketing closer to financial and sectoral analysis. Therefore, our barometer’s results carried out with Exane BNP are founded on two different angles of expertise, marketing and financial, which gives a unique added value to leaders and decision-makers in the luxury sector.”

    promiseconsulting, printempsetudes

    Luca Solca, BNP Exane Paribas, Head of luxury goods research

    “For luxury brands, it is a matter of desirability. The promise of luxury is to help clients in distinguishing themselves from others, since the perceived exclusivity is consubstantial with desirability. Promise and Exane joined forces to explore in-depth both of those dimensions in several countries, allowing us to monitor how the brands are ranked in the consumers’ mind.”

    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.

    ABOUT BNP EXANE

    Specializing in European equities, BNP Exane is active in three businesses:

    • Cash equities: under the brand name Exane BNP Paribas, Exane provides institutional investors with a range of services, such as research sales and execution on European equities;
    • Equity derivatives: Exane derivatives has built a robust structured products franchise, based on its longstanding leadership in European convertible bonds and options;
    • Asset management: Exane Asset Management is one of the leaders in long/short equity fund management in Europe.

    Exane works primarily with institutional clients worldwide (pension funds, fund managers for banks and insurers and hedge fund) and markets its derivative products to a broader pool of clients comprising private asset managers and investment advisors. Exane has a workforce of over 800 employees operating from offices in Paris, London, Frankfurt, Geneva, Madrid, Milan, New York, Stockholm and Singapore. Exane BNP Paribas equity research team covers c. 600 big companies. Their research receives regular acclaim in leading industry surveys.

    For further information: http://www.exane.com.

    To find out more

    Website: http://promiseconsultinginc.com

    Blog: http://whatsnewinmarketing.blogspirit.com

    Facebook: http://facebook.com/promiseinc

    Twitter: @pjourdan1967