Luxury Goods e Marketing in China

How do you think about China?   if the first thing came into your mind was 'a developing country', then my findings will surprise you ~

China is expected to account for over 20% of the world's luxury goods market by 2015, according to recent research conducted by McKinsey. Accord to CCTV- international indicated that, China has overtaken the US  to become the world's 2nd Largest Luxury Market...  < read more please click here... China-the world's 2nd largest luxury market>

As can be seen in the graph above, we see a realistic, “addressable” market amongst the world’s populace who have an income of over US$30,000. 
Red color stand for China -- is the only region that’ll experience exponential forecaste growth from now to 2025. 
These figures point to how crucial it is for a brand – especially in the luxury sector – to follow the new money to China and other parts of Asia.




As Uché Okonkwo, Executive Director, said that
"Luxury is neither a product, an object, a service nor is it a concept or a lifestyle. It is an identity, a philosophy and a culture.”


In my opinion, Luxury marketing is difference from other retailing marketing; furthermore, China luxury market is difference from other countries' marketing, in particularly, social media.


Digital is Different
In China, not a single global Internet leader is No.1
The proliferation of SNS plaforms, BBS sites, and other digital channels present a challenge to marketers. The environment favors brands that adopt nimble. 


The social media landscape in China is dramatically different --
Industry leaders, such as Facebook, Google, Youtube and Twitter are non-factors in Chinese Luxury goods market? the main reason I think is because of most of these social media are blocked in Chinese Internet > 0 <   instead of them are Chinese local platforms like Baidu, Youku, Sina Weibo.

L2 also compiled a list of the brands with most followers on Sina Weibo in which the ex-Swedish, now Chinese brand Volvo is at #8:

Actually, doing social median in Sina Weibo is similar to my last topic viral market. The followers in Sina Weibo are a group of fans of luxury brands, and these followers will share the luxury brands' Weibo site to her/his friends to join in.    

Personally, I log in Sina Weibo everyday and frequently; I have more than 400 audiences follow me in my site, meanwhile 6 of them are luxury goods' purchasing agents who from difference countries. The luxury goods' purchasing agents will update frequently  in Sina Weibo about their new arrival luxury goods brought from other countries and @ me (which means their message will appear in your homepage when you open your homepage), they offer cheaper prices than in Australian luxury retailing stores.