Through conversations with some of our clients in the luxury industry we have identified five questions that are high on their strategic agendas for the Chinese market.
Chinese consumers account for about one-third of the world’s total spending on luxury, even though only 8% of such consumption takes place on China’s mainland. It is estimated that, by 2025, some 7.5 million affluent Chinese households will be spending Rmb1 trillion (US$147 billion) on luxury goods, this representing a year-on-year growth of 25% since 2016. It is little wonder that China is a top strategic priority for lifestyle and luxury brands.
Luxury consumption in China has been enjoying a rapid increase in the past few years. The parallel import luxury products are more popular in the market and therefore become a threat to local business of luxury brands. Find out more from the case study.
Ipsos Global Influentials (IGI) helps you understand the needs and desires of today's most powerful people - the top 20% of the world's population holds more than 90% of the total global wealth.
In this session, Javier Calvar, Head of Market Strategy & Understanding at Ipsos in Hong Kong, will share insights on how the pandemic is changing business models and potential implications for brand owners.
