中国奢侈品消费者年轻人在想什么?| Chinese Luxury Consumers Redefined


China luxury market keeps evolving fast. What do brands need to know to keep up with a new generation of consumers?

早期阶段 | Early stage


Gone are the days, when Chinese consumers sought high-priced, logoed items to show off their high status. At the beginning of the luxury era, about 10 years ago, buyers wanted to be recognized as part of a privileged social class— and that willingness drove high-end brands sales. You can also see it in the ads, where the coveted product was in the focus, surrounded by unexpressive, same-look models. The product alone was enough to engage consumers.

暴发户VS上流阶层 | New Money VS Old Money


A few years later, along with the emerging of nouveau riche spenders willing to pay any amount for their new elite status symbols, the luxury attitude started to change as well. The old money class aimed not to be associated with the emerging riches, often perceived as ‘tasteless’, and gradually shifted towards sophistication and exclusivity of luxury products.


That trend reflected a need for brands to go above and beyond. It was necessary for them to provide the stories behind the brand name, and the values and the experiences associated with their products. Unlike the first wave of luxury buyers in China, in this further stage, consumers were secure in their status, and it was up to luxury brands to prove them their worth.


One of the first luxury houses to identify the new trend was Louis Vuitton. Very early the brand shifted its positioning, promoting the idea of journey and discovery as ‘fil rouge’ of its own story. Stemming from this, already in 2010, the French company created its stunning “core values” campaign – supported by inspiring taglines, such as “Some journeys change mankind forever”. Legendary characters, who have devoted their lives to exploration and remarkable missions, replaced the same-look models in LV ads.

现阶段 | Present

2017年的奢侈品市场又是一副全新的景象。一方面,全球奢侈品市场逐渐回温,中国的“千禧一代”已成长为能够主导整个消费市场的主流消费人群。Forrester Research最新的一项研究显示,66%的中国千禧一代是高收入者,这背后蕴藏着巨大的商机;另一方面,对于80后、90后、甚至95后而言,虽然每个群体都有自己的特征,但是成长于数字时代,浸润在互联网文化土壤下的他们,拥有更加独立而多元的思想,他们更愿意花钱在获取不同的生活体验上。

In 2017, we are witnessing the new wave of luxury shopping transformation. As Chinese Millennials mature, brands have been struggling to understand how to redefine ‘luxury’ to resonate with these consumers of today and of the near future. The post-80’s, 90’s and 95’s luxury consumers are digital savvies and world travelers with a deep understanding of luxury goods and brands, which they leverage to express and elevate themselves. Thus, they relate to products with a personality that embody experiences, which speak to them.


To dig deeper, this generation has shifted from long-term life planning to “value of today”, to the enjoyment of instant gratification. This new mindset becomes even more significant if associated with the tremendous cultural and economic change, and the emerging global vision Chinese Millennials have grown up in.


It’s clear that it is now necessary for brands to build and express well a completely new system of values, which speaks to each of the core pillars that define this self-aware and thoughtful generation. Who will stand up to the challenge and get out of it with sales jump?


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