2010 Consumption Characteristics Of Luxury Goods In China

Following the successful launch of the "2009 China luxury goods report" last year, Rhodes Public Relations Consultants Co., Ltd. jointly launched with the albatross Joint Business Consulting Co., Ltd. to release the latest survey report of 2010, "2010 China luxury goods report".

In addition to Beijing, Shanghai, Guangzhou, Hongkong and 17 important second-tier cities nationwide, the scope of this year's investigation has also extended to Taiwan.

The number of respondents is also 10% higher than that of last year, and their average annual income is around 250 thousand yuan.

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

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.

The report also shows that Chinese consumers' demand for luxury goods is 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.

The economic crisis has little impact on luxury goods consumption.

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 the second tier cities in Shanghai and the rapidly developing east China region 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.

The obvious advantages of traditional brands are obvious concerns about corporate social responsibility.

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 dominated by consumers in luxury brand ranking, Louis Vuitton, Chanel and Gucci ranked the top three.

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.

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

68% of respondents said that corporate social responsibility has become a new consideration when choosing luxury brands. Brand participation in charity and public welfare activities will enhance their interest in the brand.

Pleasant experience is the main driving force. Sincere advice is the key to purchase.

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 the respondents, 65% said that the luxury and enjoyment of luxury products was an important factor driving them to buy.

In addition, the taste of the product itself was also noted by 55% of the respondents.

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

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 also found that luxury goods are widely used in business gifts, and are also unique consumption characteristics in the mainland of China.

This phenomenon accounts for 28% of the respondents in the first tier cities, up to 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.

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 the respondents hoped to deepen the awareness of the brand in the consumption process and obtain more product information, while 59% of the respondents paid great attention to the friendly attitude of the sales staff.

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 wanted 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.

Luxury goods online consumption is ready to be launched. The role of Internet communication is increasingly obvious.

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 online consumption of luxury goods.

Respondents who support online shopping say that quality assurance and generous discounts are the most important for both the new and seasonal styles.

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 luxury brand is beyond the traditional print media, and 68% of respondents believe it is the best information channel to understand the brand product information.

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.

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 share luxury information and exchange feelings.

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