Chinese consumers are one of the world’s largest consumers of luxury goods. Nonetheless, their behaviors and concerns about luxury brands are different compared to other consumers.
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Quality, exclusivity and reputation are some of the most important aspects to Chinese luxury shoppers.
While American consumers are looking for bargains during their purchasing, Chinese luxury shoppers are seeking quality, according to a survey about luxury buying habits carried out by Agility Research, a consulting agency which interviewed 3000 luxury buyers.
But show the brand is not the unique important aspect for luxury buyers. Chinese consumers are very concerned about the quality product, even much more than American shoppers due to the huge number of counterfeit that invade the Asian giant, as reported by the survey.
As their purchasing power is increasing more and more, they have the necessity to distinguish themselves in some way from others. That’s why they are more willing to buy exclusive goods regardless of the price, as opposed to American consumers who don’t give great importance to exclusivity and prefer to get the best price when buying high-end brands.
Chinese luxury consumers want to feel different when they buy a luxury brand and that’s why they prefer brands with a unique story.
They want to understand the brand’s heritage, its story, craftsmanship and provenance, therefore brands that have an interesting story to tell are more attractive to Chinese luxury shoppers.
The brand story contributes to the Chinese buyers’ emotional brand attachment and Chanel is maybe the best example of brand story.
Coco Chanel, the company’s founder had a complicated life: she was very miserable during her childhood and despite to have had several men in her life, she never found happiness. In a period where the fashion world was dominated by uncomfortable corsets, she was ahead of your time and created comfortable and casual clothing inspired by men’s fashion. It was a total revolution.
Chinese consumers expect transfer the brand reputation to themselves through the purchasing of luxury brands.
Generally, Chinese population is obsessed about show their “face” to others, that means they want let people know their high social status. Through luxury brands they have the opportunity to show their purchasing power to others.
Increasingly more, Chinese luxury consumers are choosing niche brands and less mainstream stores during their luxury purchases. Celine, Tory Burch, Givenchy, Michael Kors and many others are the winners of this emerging tendency.
Nonetheless, these new shoppers have specific features. They are well knowledgeable, sophisticated and have a clear personal style. These shoppers are looking for discover smaller and niche luxury brands with the aim to show their individuality and self-expression.
Over the last years, behavior of Chinese luxury shoppers has changed. They are no longer interested in buy goods with big logos, now the trend is purchase products with more understated logos. However, Chinese luxury consumers remain considering brand recognition as a very important factor for them.
Luxury Brands should keep in mind that Chinese consumers are different than other luxury consumers, and therefore high-end brands should adapt themselves in order to offer to Chinese consumers everything that they are looking for.
If you are interested to understand Chinese luxury consumers and know how to attract them, don’t hesitate to contact us.
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