LV CHANEL GUCCI, The Most Popular Luxury Brand, Ranks Among The Top Three Brands In The World.

Following the successful launch of the 2009 China luxury goods report last year, Rhodes public relations consultant, one of the world's largest independent public relations companies, once again joined hands with albatross joint business consulting limited, one of the leading companies in the luxury goods market in Asia, to issue the latest survey report in 2010.

The 2010 China luxury goods report shows that luxury goods symbolize people's status, and the pleasant experience and symbol of their luxury are being valued by more and more consumers.

Compared to 2009, the scope of this report has been further expanded.

In addition to the previously covered Beijing, Shanghai, Guangzhou, Hongkong and 17 important second-tier cities in the country, Taiwan was included in the survey report this year.

The number of interviewees also increased by 10% over last year, and their per capita annual income was around 250 thousand yuan.

The survey includes consumer confidence and purchasing power, consumption driving factors, information sources and product purchase channels, and analyzes and forecasts the consumption trend of luxury goods in China next year.

The 2010 China luxury goods report shows that Chinese consumers' demand for luxury goods is still rising rapidly.

With the gradual deepening and accumulation of luxury goods, people's consumption behavior has been developing from rational assessment and early maturity to rational and mature development.

Consumer confidence and purchasing power

In the post economic crisis era, luxury goods consumption had no effect.

For last year's luxury consumption, people kept optimistic views last year.

Although most people are cautious about the current economic situation, 40% of respondents said they would maintain their original consumption level, and even 38% of respondents would increase their purchasing power.

Among them, respondents in Shanghai and the 2 cities with rapid economic development in eastern China showed a particularly active consumption intention.

Among many luxury items, premium watches are most popular among consumers.

In Taiwan, 36% of respondents intend to increase the investment of wrist watch purchase in the next 12 months, and more than 20% of the respondents in other areas have plans.

In addition, 24% of the respondents in the second tier cities will spend more money on the first-line brand clothing, which is higher than other regions.

Brand recognition and understanding

The traditional international brand has obvious advantages and outstanding position.

China's luxury goods market is increasingly competitive, and more and more international brands are entering China.

However, those traditional brands with abundant product lines, deep ploughing the Chinese market and great investment are still strong and their leading position is solid.

In 2010, the top fashion apparel products took the absolute advantage when consumers considered luxury brand ranking. LOUIS VUITTON, CHANEL and GUCCI were the top three brands.

The survey also found that in the field of jewelry and watch, many respondents included some well-known high-end consumer goods brands in luxury products.

These brands make use of the characteristics of their own valuable products, and through effective marketing and marketing, their brand positioning is closer to luxury products.

Consumers began to pay attention to corporate social responsibility

In recent years, the significance of corporate social responsibility has been recognized by more and more consumers.

According to the survey, 68% of respondents said that corporate social responsibility has become a new consideration when choosing luxury brands. The charitable and public interest activities that brands participate in will enhance their interest in the brand.

Consumption driving factors

Luxury consumer motivation is changing.

Most respondents still think that buying luxury products can highlight their honorable status and are the driving force of their enthusiasm for consumption, but "face" is no longer the only major factor driving the purchase of luxury goods.

In the process of investigation, people's attention to luxury products enjoyment and experience is unexpectedly high.

Of all respondents, 65% said that luxury enjoyment and pleasure experience was an important factor driving them to buy.

In addition, the appreciation of the product itself is also noted by 55% of the respondents.

Pleasure experience, identity and taste symbol constitute the three driving forces of luxury consumption in China.

Business gifts are still important for purchasing luxury goods.

Of all the luxury goods consumed by the respondents, 29% accounted for 28% for the relatives and friends and the business partners.

In addition to my own use, gift giving, especially business gifts, is still one of the most important purchases of luxury goods.

The survey found that the wide application of luxury goods in business gifts is also a unique consumption feature in the mainland of China.

This phenomenon accounts for 28% of the respondents in the first tier cities, and 36% in the second tier cities, more than 3 times in Hongkong and Taiwan.

Among them, the data in Southern China and West China's second tier cities are more than 38%, ranking first in the country, followed by 36% in Guangzhou.

Among the luxurious varieties suitable for gift, one of the most popular clothing accessories and small leather goods is the most popular.

37% of the respondents believe that the price of the products such as high-end wallets, scarves, neckties, glasses and so on is appropriate and respectable.

Sincere, professional buying advice and friendly sales attitude are the key to luxury consumption.

The report shows that 73.9% of respondents believe that salesperson's sincere advice is the most important factor in the purchase behavior of luxury goods.

69.3% of respondents hoped that they could deepen their cognition of brand and acquire more product information in the process of consumption, while 59% of respondents attached great importance to the friendly attitude of salesmen.

Because of the relatively limited access to luxury goods, consumers in second tier cities are more concerned with salesmen's professional advice than in the first tier cities.

43% of the respondents in the second tier cities hope to know the history and value of luxury brands through salesmen, so as to improve their knowledge of products.

In the Hongkong market where the luxury goods market is mature, only 30% of the respondents will adopt the professional advice of the salesperson, and the sales attitude is the primary consideration factor. 52% of the respondents require the salesperson to have a positive sales attitude.

Internet channel

Luxury consumer spending is on the way.

At present, luxury goods online purchase has developed and matured abroad.

It is foreseeable that this new model will soon come to China.

The report found that nearly half of respondents were willing to buy luxury goods online, and 54% of Beijing respondents and 47% of Shanghai respondents were prepared for this.

The number of female consumers is relatively high, which is 10% higher than that of male consumers.

Data show that the reliability of products and the uncertainty of physical objects are the biggest concerns of respondents on luxury online consumption.

As for the driving force of online consumption of luxury goods, respondents who support online shopping say that the quality guarantee and the generous discount are the most important for both the new product and the seasonal style.

The role of network platform in the dissemination of luxury brand is becoming increasingly evident.

The survey once again confirms that the diversified Internet has become one of the main channels to acquire luxury goods, and Internet communication has maintained a strong position last year.

The official website of the luxury brand is more than the traditional print media, which is considered by 68% of the respondents as the best information channel for understanding the information of brand products.

In second tier cities, the figure is as high as 71%.

The importance of fashion vertical websites and news portals is also increasing for information acquisition of luxury goods.

For mainland Chinese consumers, the vogue vertical website is very important. Ruili net and Yau card net are the most frequently visited fashion websites.

Among the many portals in the mainland, Sina has received the highest attention among luxury goods consumers in China.

The research also found that the popular social media websites are gradually mature as the information channel of luxury goods.

Although the importance of social media websites is still not up to the brand official website, fashion websites and portals, its development prospects are limitless.

Through social media websites, consumers can quickly and freely get luxury information and exchange feelings.

Data show that respondents in Hongkong have the highest degree of trust in social media sites.

According to the findings of this report, Christophe Cas, executive director of albatross consulting company, said: "although the impact of the financial turmoil is still continuing, we are glad to see that the luxury goods market in China is still developing vigorously through the latest data survey this year. Chinese consumers are becoming more sophisticated about luxury products, and luxury buying behavior is becoming more rational."

Rhodes, chairman of Asia public relations of Jean-Michel public relations (Dumont), pointed out: "the huge market potential of China's luxury goods remains to be explored in every brand by Dumont.

In the second tier cities, we should enrich and expand the channels of dissemination and promotion of luxury goods, and the distance between consumers and consumers through corporate social responsibility, and the promotion of luxury consumption through the Internet in the era of Web 2.

Whether or not these questions can be handed out satisfactorily will directly affect the future development of the brand in China.