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promiseconsulting

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    #Mode de #luxe : le match entre les #marques françaises et italiennes aux #USA

    CB EXPERT - PAR EMMANUEL CHARONNAT - 09 OCTOBRE 2016

    Après la France et la Chine, la baromètre luxe d’Exane BNP Paribas, réalisé par Promise Consulting étudie la perception des marques de luxe auprès des Américaines les plus riches

    Contenu accessible aux abonnés CB Expert uniquement : [Cliquer ici]

    En savoir plus sur le baromètre Luxe #Exclusivité & #Désirabilité : mailto: valerie.jourdan@promiseconsultinginc.com

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    #Exclusivity & #Desirability US Barometer of #PromiseConsulting & #ExaneBNP reinforce positive ratings on both #LVMH and #Kering.

    FROM EXANE BNP & PROMISE CONSULTING - SEPTEMBER, 07, 2016

    Luca SOLCA
    Managing Director
    Sector Head Global Luxury Goods

    Rue du Rhône 80, 1204 Genève, Switzerland
    Tel: +44 203 4308503
    Mob: + 44 7881249464
    luca.solca@exanebnpparibas.com

    Luxury goods brand desirability in America shows domestic and aspirational bias
    We find a number of surprises and a few confirmations in the results of our extensive consumer investigation in America: 1) Americans like their local champions; 2) Americans seem more attracted by fashion brands; and 3) Our analysis confirms a strong accessible luxury bias among American consumers.

    Luxury brand exclusivity perception is also quirky
    Prada, Versace, Louis Vuitton, Gucci and Giorgio Armani lead the group - with Hermès coming in only 6th place. Louis Vuitton, Burberry, Prada and Versace look strong, as they boast higher desirability than purchase - a convergent indicator of exclusivity perception.

    We are adding 'brand identity' analysis to our desirability and exclusivity research
    Louis Vuitton and Gucci rank in the top 5 of all brand identity traits we have investigated, with the exception of 'elegance', in which Chanel and Prada lead.

    Investment conclusions
    Our analysis of brand desirability and exclusivity in America reminds us of how important mega-brands remain in this industry. Louis Vuitton stands out as the strongest brand by far, followed by Gucci, which seems to have lost some of the vigour of a few years back but is likely benefiting from its successful and thorough turnaround. These results reinforce our positive ratings on both LVMH and Kering.

    Ask for the full document : philippe.jourdan@promiseconsultinginc.com

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    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.

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    #Storytelling: livre blanc pour tout savoir des bonnes pratiques et usages |#agence79c #promiseconsulting]

    [Storytelling]- L'histoire est indissociable du patrimoine des individus et des marques. Depuis que le langage existe, la narration crée et renforce le lien social entre les hommes, les peuples et les générations.

    Elle permet la transmission du savoir, la perpétuation du souvenir. Mythes, légendes, contes, etc. contribuent ainsi à nourrir la mémoire. A l'heure de l'incroyable succès de Games of Thrones et quelques années années après l'odyssée du Seigneur des Anneaux, jamais les légendes nordiques n'ont connu une telle modernité. 

    Pourquoi en serait-il autrement dans l'univers des Marques ? 

    Nous vous proposons sur les pas de Roland Barthes, pour qui le mythe est un système de communication à part entière, de découvrir le livre blanc écrit par l'Agence 79C sur le sujet. Nous avons eu le privilège de contribuer par des données d'études et des analyses récentes à ce très bel opus qui permet une synthèse des apports, des usages et des bonnes pratiques du Storytelling.

    [TELECHARGER LE LIVRE BLANC SUR LE STORY TELLING]

     

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    [Figure You Should Know] – 73.6% [#luxury #automobile #russia @russia]

    Luxury products in Russia are sold at a higher price than in other cities such as Paris (35-40% higher) or London (20-30%), as stated by Strategia & Sviluppo Consultants (2015).

    Still accounting for 73.6% of their luxury market, the car industry was strongly hit by the market crisis and lost for 40% of their sales in 2015, even though this is their least affected market (RBTH, 2015).

    Thus, in light of the economic crisis, wealthy individuals are investing in very expensive cars as the instability of the marketplace is worrisome (Reuters, 2016).

    Lire la suite

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    [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

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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

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

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    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.

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    [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

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    #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