Chinese Women Are Buying Luxury Goods For Themselves.
The success of Italy's jewelry maker Bulgari SpA and sports car maker Martha Lahti (Maserati SpA) in China is largely due to their depiction of their products as a symbol of male social status. (SpA)
But the two companies have recently adjusted themselves to more and more luxury brands in China.
Marketing
The strategy has begun to attract women entrepreneurs who start from scratch. This fast-growing consumer group also wants to have their own high-end love products.
Chloe says, thanks to women.
Consumer
The rise of China will become the biggest in two years.
market
。
The picture shows Chinese consumers in a Chloe luxury store in Shanghai.
Martha Lahti has been holding a private cocktail party with Giorgio Armani's cosmetics business and La Perla, a female underwear company in Italy, to entertain the newly wealthy female drivers in China, Armani.
Martha Lahti said that 30% of the 400 cars sold in China last year were bought by women, compared with 7% in 2005.
The company says that the proportion of female drivers of Martha Lahti's car in China is dwarfed by those in Europe and the United States. Only 2% to 5% of the drivers in Europe and the United States are Martha Lahti.
Christian Gobber, managing director of Chinese business, said that many people tend to think that men in China are generous gifts for women in luxury goods in China. But what we have observed is that most of the luxury buyers are women. They have achieved great success in their business. Now they are rewarding themselves with good things in the world. Martha Lahti,
A survey conducted by the consultancy McKinsey Co (McKinsey & Co.) showed that over half of China's luxury consumption of about $15 billion in 2010 was carried out by women.
When McKinsey Co conducted the survey in China in 2008, the ratio was 45%.
Compared with 2008, the average consumption of female luxury consumers increased by 22% in 2010, while the average consumption of male luxury consumers increased by only 10%.
Beijing advertising company Chang Rong Communications Limited said Bvlgari increased its advertising expenses in Chinese women's magazines to 22 million yuan in 2010, compared with 106 thousand yuan a year ago.
Bvlgari has recently been bought by Louis Weedon (LVMH Moet Hennessy Louis Vuitton SA).
China is expected to become the world's largest luxury market by 2020. In the past 10 years, China's luxury market has been driven by men.
As they buy gifts for business partners, Swiss jewelry sales of luxury brands such as Swiss watch and Cartire (Cartier), Louis Weedon and Gucci (Gucci) have been promoted in China.
Although men often buy gifts for women, they are the ones who buy gifts after all.
Seeing that women are rising as an increasingly powerful force, women who have always been targeting women are stepping up marketing efforts.
Burberry Group PLC, a British company, and the French brand Cie. (Chloe) of the Swiss luxury group, Cie. Financier Richemont SA, are holding more pre sale exhibitions to show the new fashion series, so that Chinese women can catch a glimpse of the upcoming fashion trend ahead of time.
Yuval Atsmon, McKinsey director, said women are more fashionable than men, and Chinese consumers are spending more on clothing. Most of these consumers are women.
Geoffroy de-la-Bourdonnaye, President and chief executive of the company, said that because of the rise of female consumers, China will become the largest market in the next two years.
He said that Chinese women are becoming more independent, more and more enterprising, and more and more powerful in the market.
Many retailers are testing new Internet tactics.
According to McKinsey, women are more likely to shop online than men, and their comments on blogs and social networking sites often affect other people's shopping behavior.
In March of this year, Chanel (Chanel) invited Chinese artist Zhou Yi to attend the fashion show held in Paris. He hoped Zhou Yi would pay close attention to her 3000 fashion lovers on Sina micro-blog to promote the brand.
(she did the same.
)
Louis Weedon's Givenchy set up its Sina micro-blog account in January this year, using it to contact female fans and release new products, such as the "Nightingale" leather bag priced at 16 thousand to 32 thousand yuan.
Wilfred Koo, President of Givenchy China and Asia Pacific region, said women want to experience more brands - touch, feel and interact.
The rapid growth of the world's second largest economies has created employment opportunities and revenue generating potential for both sexes.
According to data from Center for Work-Life Policy, 76% of female university graduates in New York want to hold managerial positions each year, and the proportion in the United States is 52%.
According to data from Hurun Report, Shanghai, 11 of the 20 richest women in the world are in China, and China has 153 women who are worth more than 1 billion yuan.
Sun Ningning, sales manager of GlaxoSmithKline PLC, is the target of luxury companies.
The 32 year old Beijing native recently bought a $12600 leather handbag for himself.
The price of the brown handbag is about 15% more than that of her monthly salary.
Sun Ningning said buying luxury goods has a pleasure that can not be explained.
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