DUBLIN--(BUSINESS WIRE)--The "Affluent Insights 2017-18: China Luxury Report" report has been added to ResearchAndMarkets.com's offering.
The Affluent Consumer continues to drive the consumption of luxury goods and experiences globally. Brands need to increasingly monitor the pulse of these discerning consumers in order to win in a competitive market. In this report, we delve into the purchasing behaviour, motivations, media channels, and brand preferences of the affluent consumers when it comes to purchasing premium and luxury products and services.
We cover almost 500 premium brands across the following categories: fashion/accessories, watches, jewelry, alcohol, hotels/cruises, and skincare. The findings are based on interviews among 629 affluent individuals (with annual household income above RMB350,000), which includes 300 millionaires (those with US$ 1 million+ in investable assets). Part of the results are trended to past 2 years.
Summary
China is becoming the largest consumer market in the world. Luxury, travel, and financial services brands are all increasing their presence in the Middle Kingdom, and branching outside of the Tier 1 cities of Beijing, Shanghai, Guangzhou and Shenzhen into Tier 2 and even Tier 3 cities, where China's affluent class is growing the fastest. While many brands have relied heavily on overseas spending from outbound tourism, they are renewing their focus on their physical presence in Chinese cities, including at luxury outlets. This is not to say that the affluent Chinese are not buying luxury goods when they travel - far from it. In fact, 2 out of 3 affluent consumers still mainly buy luxury goods while they are abroad, with Japan being the most popular overseas shopping destination.
Key Topics Covered:
- The Definition of Luxury
- Experiences from Luxury Brands
- Next Luxury Purchase
- Expectations from Luxury Brands
- Luxury Purchase Preferences
- Millionaires' Luxury Preferences
- Motivations to Buy Luxury Brands
- Luxury and Social Media
- Top Social Media Celebrities/Influencers
- Luxury Category Purchasing
- Luxury Spending Outlook
- Share of Wallet
- Luxury Purchase Channels
- Motivations to Buy Luxury Online
- Buying Luxury Online
- Luxury Shopping Websites
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Preferred Online Payment Mode
For more information about this report visit https://www.researchandmarkets.com/research/dsxcc2/china_luxury?w=4
