With Chinese consumers massively shopping for luxury abroad and online, traditional marketing formulas have limited impact. It is time for luxury brands to rethink their go-to-market approach, putting digital at the core.
Wei proudly shows her latest catch: a colorful textured leather mini handbag she bought during her last business trip to Paris. Wei epitomizes the shopper the whole luxury industry seems to be after at the moment: a start up entrepreneur from Hangzhou and representative of China’s ‘Cultured Youth’, she is both very success driven and hungry for culture.
In fact, she is part of the upcoming generation of Chinese shoppers who are redefining luxury marketing through a triple change: structural change in the market dynamic, change in consumers attitude towards luxury and change in how they navigate the world through digital.