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china - Page 2

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    [Figure You Should Know] – 630 M[#economy #promiseconsulting @printempsetudes]

    According to McKinsey (March 2014), by 2022, middle class in China will change considerably, mainly geographically.

    Tier 1 cities (Beijing, Shanghai, Guangzhou, Shenzhen) might see their share of urban middle class decline (from 40% in 2002 to 16% in 2022) while it should be rising in tier 2 and tier 3 cities (for the latter, from 15% to 31%). This middle class could reach up to 630 million people in 2022, which is accounting for around half of the population in China, thus making China a middle class country.

    Since they are now spreading, brands looking for customers will have to focus more on tier 2 and tier 3 cities and especially on middle class customers.

    Source: Mc Kinsey

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    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]

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    [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

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    #Watch: Louis Vuitton’s Chinese Documentary Series Stars Liu Wen and Fashion ‘Muses’ [#LouisVuitton#LiuWen]

    March 2, 2016, JING DAILY

    liu wen, louis vuitton, china, luxury, watch

     

    In an industry where fashion and art often collide, it’s hard not to think of Louis Vuitton. The brand has been busy blazing trails in this way in the last few years, opening an art museum outside of Paris in 2014 that would eventually lead to a collaboration with Beijing-based Ullens Center for Contemporary Art for an exhibition of Chinese contemporary artists. Art&Business magazine called the brand’s “love affair” with art one of the most “amorous,” highlighting the fact that over the years, Louis Vuitton has had partnerships with artists from around the world in exchange for using designs in its collection.

    It should come as no surprise, then, that Louis Vuitton has sponsored a five-part documentary series on China’s CCTV9 that stars women who have been key figures on the international stage of fine arts. Titled in Chinese Journey of a Muse and Craft a Destiny in English, each episode of the series follows a different woman on the road to self-discovery. These include Chinese supermodel Liu Wen; Karen Blixen, the Danish author best known for the novel Out of Africa about her life in Kenya; Yayoi Kusama, a contemporary artist and writer from Japan; Song Huaigui, a pioneer in the Chinese fashion industry who played a huge part in bringing Pierre Cardin to China for a runway show in 1979; and Dadawa, a contemporary Chinese musician who has earned global recognition as well as an MTV award for her work.

    Some of these leading ladies have been involved with the Louis Vuitton brand in some shape or form. Yayoi Kusama took her signature bold spots and applied them to a playful collaboration with the French fashion house in 2012. Karen Blixen was a known fan of bringing along Louis Vuitton luggage on her iconic journey. And Liu Wen has modeled for the brand on multiple occasions, most notably in 2013 for a scarf capsule collection featuring colorful designs by renowned street artists.

    [READ THE FULL ARTICLE ONLINE]

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    [Figure You Should Know] – 1st tier [#brands #luxury #promiseconsulting @printempsetudes]

    First-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen (“The Big Four”), are defined by their economic development, number of inhabitants, industries and well-known brands settled in and per capita Gross Domestic Product, among other factors.

    This classification is quite handy to luxury brands, as they will settle in first-tier cities to win over potential luxury clients. A report by Accenture (2013) has shown that consumers from these cities tend to buy expensive brands more than those from second and third-tier cities, whom are satisfied with products worth 1000 yuan or less. Finally, they are more demanding regarding the quality of the product, its authenticity and uniqueness.

    However, this trend is beginning to turn around, as bigger brands are getting interested in second and third-tier cities. Their consumers are looking for conspicuous logos and products worn by celebrities whereas they are less knowledgeable on that subject than consumers from first-tier cities, which may give an opportunity to luxury brands on creating a new fashion image.

     

    Source : Accenture - JingDaily

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    SK-II Addresses China’s Leftover Women in ‘Marriage Market Takeover’ Film [#SKII #changedestiny campaign #ad #china #skincare]

    April 7, 2016 from Jing Daily

    A new ad campaign by luxury cosmetics brand SK-II addresses a social issue in China that doesn’t usually receive much attention in the country’s commercial scene: the plight of sheng nu, or “leftover women.”

    20160409 0751.png

    If one wasn’t aware of how twenty-something single women are traditionally viewed by their parents’ generation in China, the start of the four-minute-long video ad strikingly makes it clear. It begins by juxtaposing a montage of photographs of young girls with audio phrases from their parents, such as, “I won’t die in peace unless you are married,” “Don’t be so free willed,” and “You’re too picky.”

    Chinese women are put under an incredible amount of social pressure to get married, so much so that businesses pop up around Chinese New Year that give single women (and men) the opportunity to rent a boyfriend or girlfriend to fool and appease their family over the holidays. The term sheng nu is a derogatory one used for those who haven’t found a husband by their mid to late twenties.

    For the women featured in the film, this term brings on feelings of guilt. “Not getting married is a sign of disrespect,” says one woman before tearfully apologizing to the camera for disappointing her family.

    Then, in an emotional turn of events, the women head to the Marriage Market in Shanghai, where parents normally go to browse the “resumes” of potential suitors for their daughters. This time, however, the women would be the ones delivering a message to their parents.

    The parents find beautiful photos of the women at the market, each paired with statements of confidence like, “I don’t want to get married just for the sake of marriage. I won’t live happily that way.”

    This touching film, produced by Swedish ad agency Forsman & Bodenfors, is the latest installment of SK-II’s global #changedestiny campaign, which encourages women to “change their DNA” to take control of their future. SK-II’s website has additional short films that show women having courage to change their DNA, including one starring Chinese actress Tang Wei and another featuring Chief Strategy Officer for Ebay Greater China Vvivi Hu.

    In the case of the sheng nu campaign, the confident subjects behind #changedestiny speaks volumes to affluent Chinese women. A 2014 report by Grant Thornton International showed that about 63 percent of Chinese businesses have female CFOs, and women are going to great lengths to have their own eggs frozen so that they can put things like having children—and marriage—second to their successful careers.

    So far, the “Marriage Market Takeover” Youtube video has more than 250,000 hits after two days of being released, and its WeChat post is quickly catching up with more than 100,000 pageviews and a growing number of comments of encouragement from supportive fans.

    Credits:

    Brand Director: Kylene Campos
    Art Direction: Sophia Lindholm and Karina Ullensvang
    Director: Floyd Russ
    Digital Producer: Peter Gaudiano
    Film Editor: Cut + Run
    Production: Tool of North America
    Producer: Alexander Blidner

    [READ THE FULL ARTICLE IN JING DAILY]

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    How the Korean Innisfree Became the Most Popular #Beauty #Brand on #Baidu in China [#cosmetics #Korea #China]

    FROM L2 / THE DAILY THURSDAY / MARCH,31, 2016

    beauty, brand, cosmetics, korea, china, baidu, digital

    Innisfree is one of the most popular Korean beauty brands in China, as evidenced by its high search volume on Baidu, Taobao, and Youku. (Innisfree was the top Beauty brand according to both the Taobao and Baidu Indexes.) L2 research finds the success of Innisfree to be a result of robust digital properties on the brand site, mobile, in-store and on social media.

    Innisfree maintains a sophisticated brand site designed for consumers to spend time on; a gamified cross-channel loyalty program, user-generated content syndicated from multiple social platforms, and video libraries are among the features offered. Furthermore, the brand site ensures product research and purchases are seamless with grid pages that include quick-view and product pages featuring reviews and recently-viewed products. The brand’s site is also mobile optimized with swipeable carousels and mobile-specific offers.

    Social media also plays an important role in Innisfree’s success. Consumers can create a customer profile by logging in with their Weibo, QQ, or Alipay accounts. These accounts allow Innisfree to create an omnichannel loyalty program that tracks online and offline purchases. Users can also gain points by engaging on social media or checking into a brand site.

    Innisfree’s Spring 2015 social campaign “Summer Love”, featuring Korean influencers Lee Minho and Yoona, became one of the most successful campaigns among Korea Beauty peers. The campaign promoted the Innisfree Summer Foundation Cushion with five videos on Youku with the storyline of a young couple. The two most viewed videos from the campaigned averaged 181,000 views, more than four times the brand’s average video view count. The Youku campaign was supported by desktop and mobile advertising, as well as WeChat and Sina Weibo promotions. The most successful WeChat post was viewed 10,600 times while the campaign’s Sina Weibo post remains the brand’s most engaging post with 2,000 interactions. But much of the success is evident in the sheer number of users who spread the word; the campaign hashtag #innisfree received 17.7 million impressions and 36,000 mentions on Weibo. Yet, Innisfree expanded the campaign beyond just promotions, and connected the buzz to shopping. The popular couple remains featured on the Innisfree Tmall site to promote products and maintain brand buzz.

    [READ THE ARTICLE ONLINE]

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    SK-II Addresses China’s Leftover Women in ‘Marriage Market Takeover’ Film [#SKII #changedestiny campaign #ad #china #skincare]

     April 7, 20, Jing Daily

    “I won’t die in peace unless you are married,” says one parent in new SK-II ad about “leftover women” in China

    skII, china, cosmetics, ad, campaign, change your destiny

    A new ad campaign by luxury cosmetics brand SK-II addresses a social issue in China that doesn’t usually receive much attention in the country’s commercial scene: the plight of sheng nu, or “leftover women.

    If one wasn’t aware of how twenty-something single women are traditionally viewed by their parents’ generation in China, the start of the four-minute-long video ad strikingly makes it clear. It begins by juxtaposing a montage of photographs of young girls with audio phrases from their parents, such as, “I won’t die in peace unless you are married,” “Don’t be so free willed,” and “You’re too picky.”

    Chinese women are put under an incredible amount of social pressure to get married, so much so that businesses pop up around Chinese New Year that give single women (and men) the opportunity to rent a boyfriend or girlfriend to fool and appease their family over the holidays. The term sheng nu is a derogatory one used for those who haven’t found a husband by their mid to late twenties.

    For the women featured in the film, this term brings on feelings of guilt. “Not getting married is a sign of disrespect,” says one woman before tearfully apologizing to the camera for disappointing her family.

    Then, in an emotional turn of events, the women head to the Marriage Market in Shanghai, where parents normally go to browse the “resumes” of potential suitors for their daughters. This time, however, the women would be the ones delivering a message to their parents.

    The parents find beautiful photos of the women at the market, each paired with statements of confidence like, “I don’t want to get married just for the sake of marriage. I won’t live happily that way.”

    This touching film, produced by Swedish ad agency Forsman & Bodenfors, is the latest installment of SK-II’s global #changedestiny campaign, which encourages women to “change their DNA” to take control of their future. SK-II’s website has additional short films that show women having courage to change their DNA, including one starring Chinese actress Tang Wei and another featuring Chief Strategy Officer for Ebay Greater China Vvivi Hu.

    In the case of the sheng nu campaign, the confident subjects behind #changedestiny speaks volumes to affluent Chinese women. A 2014 report by Grant Thornton International showed that about 63 percent of Chinese businesses have female CFOs, and women are going to great lengths to have their own eggs frozen so that they can put things like having children—and marriage—second to their successful careers.

    So far, the “Marriage Market Takeover” Youtube video has more than 250,000 hits after two days of being released, and its WeChat post is quickly catching up with more than 100,000 pageviews and a growing number of comments of encouragement from supportive fans.

    Credits:

    Brand Director: Kylene Campos
    Art Direction: Sophia Lindholm and Karina Ullensvang
    Director: Floyd Russ
    Digital Producer: Peter Gaudiano
    Film Editor: Cut + Run
    Production: Tool of North America
    Producer: Alexander Blidner

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    Generation Z spells trouble for brands relying on Chinese tourists [#GenZ #China]

    By Forrest Cardamenis, Luxury Daily, March 09, 2016

    In a reversal of the more materialistic tendencies of their parents, almost 95 percent of Chinese Generation Z consumers say it is essential for brands to be sustainable and environmentally conscious, according to a report by RTG Consulting.

    The continued growth of China over the next several years will ensure that its consumers remain prime targets for brands for the foreseeable future, as even a slowed China exceeds the growth rate of western nations. As a result, brands will need to make a connection to this group, the first born in a fully modern China, in the interest of long-term success.

    “We have noticed that the meaning of success is being redefined where career and financial achievement are no longer the main drivers,” said Marc-Oliver Arnold, head of research and business consulting divisions at RTG Consulting Group. “Our research shows that more than 62 percent of Gen Z already believe that ‘success no longer means financial wealth’; instead, there is an emerging shift in mindset where it is more about how you live your life that matters.

    “Not only does this mean they want to live a multi-faceted and enriching lifestyle, but that they also see the value in taking responsibility for caring for the world and their environment,” he said. “This awakening fuels this generation’s desire to be mindful of the present moment and rediscover the meaning of happiness in daily experiences.

    Generation gap
    As millennials have begun to accrue wealth, they are now the target market for many brands, which recognize that making the connection could sustain several decades of good business. However, the potential of the subsequent generation, particularly in booming market such as China, is enormous.

    Additionally, the present reliance on Chinese tourists, a result of the country’s enormous population and booming economy as well as laws, taxes and limitations of distribution that raise the price of luxury goods in the country, means brands must be equipped to reach these consumers when their behaviors and desires change.

    While Chinese millennials are heavy travelers and see luxury items as status symbols, tomorrow’s Chinese consumer will more closely resemble today’s western youth, a worldly, socially conscious consumer with alternate definitions of success.

    Good news for brands is that many of the techniques currently being used to court millennials, namely emphasizing sustainable measures, will prove effective on China’s Gen Z. Brands that have not yet begun to prioritize sustainability and reduce their carbon footprint and have instead banked on a globalizing economy and/or Chinese tourists will only be more pressed to adapt as time goes on.

    Although environmental concerns are the largest marker of China’s Gen Z consumers, it is far from the only one. Barely a quarter of these consumers object to same-sex marriages, an opinion that is at first glance divorced from consumer culture but is in fact important to note for marketing materials, which still overwhelmingly suggest heterosexual couplings.

    While “word of mouth” was and remains the best form of advertising a brand can hope for, the phrase is quickly becoming an anachronism. Only 10 percent of consumers surveyed spend more time interacting offline than online with friends.

    Marketers are already going after consumers on social media, but proficiency with the various platforms and a quick adoption rate will be crucial moving forward. With interaction moving online, brands will need to find ways to generate buzz in an organic an unobtrusive way even more so than they do today.

    Chinese consumer using WeChat

    “As digital natives, China’s Gen Z currently lives and breathes mobile, and so [a brand’s] approach must be inherently mobile, with the goal of becoming part of their digital lifestyle,” Mr. Arnold said. “This means offering engaging, meaningful and inspiring creative content as well as distinct experiences.

    “In addition, we foresee brands to increasingly become more of a platform for people to build deep and personal human connections.”

    Perhaps most alarmingly, around half of respondents say that a more interesting job would be preferable to a high-paying job and only 11 percent agree that wealth indicates success. The overall shift from materialism to mindfulness could be a major obstacle for many sectors, which will need to find a way to tell consumers that a handbag, jewelry or a car is more than a product or sign of wealth.

    Brave new world
    Although this data connects China’s Gen Z to global Gen Y consumers, China’s own millennials are generally far more consumerist than those in the United States and elsewhere.

    Following Gen X’s economic breakthrough, Gen Y was presented with a world in which they could buy previously unthinkable luxuries. Those born into such a world, however, have turned their attention to non-material aspects of happiness.

    [READ THE FULL ARTICLE]

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    The high-end luxury brands are catching on in China [#promise #fashion #luxury]

    Some say that when China sneezes the rest of the world catches cold, but the high end luxury brands are catching on in China, becoming the most exclusive and desirable ones in fashion according to the wealthiest Chinese women.

    Still, our ranking also reveals a stronger competition that is accentuated by the wealthy customers’ increasingly stronger maturity.

    Take 3 minutes to watch the Video Release by Pr Philippe Jourdan

    china, luxury, hermes, prada, chanel, louis vuitton, fashion, bnp, exane, promise, desirability, exclusivity

    Have a quick look at the Press release & the main insights

     china, luxury, hermes, prada, chanel, louis vuitton, fashion, bnp, exane, promise, desirability, exclusivity

    Download the infographics

    china, luxury, hermes, prada, chanel, louis vuitton, fashion, bnp, exane, promise, desirability, exclusivity

    The International luxury press echoes results: take a look

    china, luxury, hermes, prada, chanel, louis vuitton, fashion, bnp, exane, promise, desirability, exclusivity

    This barometer Promise Consulting / BNP Exane classifies the 15 most exclusive and desirable brands in China in the universe of feminine Fashion. This Barometer is conducted amongst the wealthiest Chinese women, and is about the 30 luxury brands in ready-to-wear/handbags/shoes/accessories that have invested the most in communication (source: Industry Interviews, Exane Paribas).

    Promise and BNP Exane already conducted the same survey amongst French wealthiest women in May 2015 (see: http://bit.ly/1ESTZGu).

    This barometer in association with BNP Exane reflects our determination to move closer to the marketing and cross-section financial analysis. Our Monitoring Brand Assets® approach itself features very complementary analyzes with those conducted by BNP Exane’s experts. Hence, the obtained results from our joined barometer are based on two different angles of expertise, marketing and financial, which brings a unique added value to the managers and decision-makers in the Luxury sector. More concretely, our measure of the exclusivity of a brand takes into account the upper and more constant quality of products, the strong and unique valuation of the customer, the brand’s prestige, but also a matchless “savoir-faire” that justifies a very high price premium associated with top luxury.

    "Finally, our measure of desirability synthesizes the dimensions of attractiveness of an intimate, social and symbolic nature, which are the strengths of exclusive brands, and characterize the particular relation that they maintain with their customers. In this respect, our Barometer synthesizes, in two proven scales, the numerous criteria to establish a ranking between the high-end brands from their customer’s point of view", states Pr. Philippe Jourdan, Promise’s CEO.