Even as the luxury goods sale have cooled down in mainland China (due to anti-corruption laws and the triple devaluation of the Yuan in August 2015), Chinese shoppers are still buying luxury items.
Some headlines from the report:
- They are more informed on price differential between markets and they seek better bargains abroad. More and more are doing their shopping abroad, in Asia and in Europe.
- At a worldwide level, globetrotters boost the luxury goods markets, in particular the Chinese consumers, shifting to Europe, South Korea or Japan in response to currency fluctuation.
- More than 109 million Chinese travelled overseas in 2015, up from 100 million the previous year. By 2020, this figure is set to rise to more than 200 million.
- The main demographic driving spending growth in the next five years will be Chinese millennials. The 25-34-year-olds, already represent 35% of all outbound Chinese travelers. Younger travelers aged 15-24 are another vital demographic, accounting for an additional 27%.
The World Luxury Tracking, launched by Ipsos in 2007, is an international tracking survey offering dynamic quantitative data on luxury customers over the years.
World Luxury Tracking : Do you Speak Luxury? Consumers New Luxury Culture
The World Luxury Tracking (WLT) sets the standard for luxury market studies. Every year, this global monitor analyses trends throughout the different markets and allows brands to better understand new consumer expectations. What can be said about their state of mind? And what about their experiences? What is their purchase journey? What are their expectations? The latest WLT wave covers: France, Italy, Spain, Germany, UK, USA, Saudi Arabia, the United Arab Emirate, and the emergence of maturing luxury consumers as well as a new Luxury Culture.
2015 China Luxury Forecast
Positive consumer dynamics will continue to drive Chinese shoppers as the world’s number one luxury force. The China Luxury Forecast surveys luxury consumers in the mainland China and Hong Kong. This is the most detailed survey in Greater China looking at the behaviors and attitudes in the luxury sector.
[EVENT] ESOMAR Big Data World
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