luxury in china: get rich is glorious
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w w w . t r e n d b u e r o . c o m >> 1
TO GET RICH IS GLORIOUS Being rich a state of mind
w w w . t r e n d b u e r o . c o m >> 2
TO GET RICH IS GLORIOUS
Being rich a state of mind
Trend Insight Report
September 2008, Beijing
w w w . t r e n d b u e r o . c o m >> 3
100 million Chinese
luxury consumers.
“The money is there.” Glen Murphy, managing director at AC Nielsen in Shanghai
Sourc
e: M
org
an S
tanle
y, 2
006
Introduction
w w w . t r e n d b u e r o . c o m >> 4
“The money is there.” Glen Murphy, managing director at AC Nielsen in Shanghai
Already the third
largest luxury market
in the world. Introduction
w w w . t r e n d b u e r o . c o m >> 5
The world's top
luxury market by
2015.
“The money is there.” Glen Murphy, managing director at AC Nielsen in Shanghai
Sourc
e: G
old
man
Sac
hs,
2007
Introduction
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To Get Rich is Glorious
115 US$-billionaires
in 2007...
Introduction
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To Get Rich is Glorious
The only country
where consume
more luxury than . Introduction
w w w . t r e n d b u e r o . c o m >> 8
To Get Rich is Glorious
The world’s youngest
luxury market, with
in their 30’s. Introduction
w w w . t r e n d b u e r o . c o m >> 9
To Get Rich is Glorious
¥ $ = ? ? ?
Introduction
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Chinese on the move
What’s Next?
Introduction
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Chinese on the move
The next
generation...
Introduction
w w w . t r e n d b u e r o . c o m >> 12
Chinese on the move
Introduction
w w w . t r e n d b u e r o . c o m >> 13
Chinese on the move
Introduction
w w w . t r e n d b u e r o . c o m >> 14
Chinese on the move
Introduction
w w w . t r e n d b u e r o . c o m >> 15
Chinese on the move
Introduction
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Chinese on the move
... they will look and
buy different.
Introduction
w w w . t r e n d b u e r o . c o m >> 17
Chinese on the move
But how?
Key Questions
w w w . t r e n d b u e r o . c o m >> 18
To identify the potential for
your brand behind these over-whelming figures, you need to
understand what luxury buyers try to achieve and sell them
what they need to succeed.
Introduction
“If you are looking for quick profits, don't go to China. It takes a long time to be profitable.” Nigel Luk, Cartier's managing director for China
w w w . t r e n d b u e r o . c o m >> 19
Therefore CIMG and Trendbüro
investigated upcoming needs and rising desires of Chinese
luxury consumers as well as its impact on China’s luxury
market.
Introduction
Research is based on desk research, 24 focus groups, in-depth interviews as well as expert interviews.
w w w . t r e n d b u e r o . c o m >> 20
Key Questions
Analyze changing life drivers and desires of Chinese luxury consumers to identify upcoming consumer requirements towards luxury brands.
– Which social changes shape the life
drivers and motivations of China’s
consumers?
– Which new consumer needs will
challenge China’s rising luxury market?
– How to address to these needs with
products, marketing and services?
w w w . t r e n d b u e r o . c o m >> 21
1. People’s Republic of Change
2. Luxury in a Shift
3. Faces of Luxury 2010
Agenda
Trend Insight Report: To Get Rich is Glorious
w w w . t r e n d b u e r o . c o m >> 22
Within the last 60 years
Chinese consumers underwent two major value shifts, which
significantly impacted their lives, beliefs and buying habits.
People’s Republic of Change
The future of luxury is based on a fundamental change of social values from the past to the present.
w w w . t r e n d b u e r o . c o m >> 23
People’s Republic of Change
Three decades of communism were followed by three decades capitalism. Now China slowly transitions into three decades of consumerism.
w w w . t r e n d b u e r o . c o m >> 24
1. Baby Boomers
2. Generation X
3. Generation Y
People’s Republic of Change
The Chinese market is influenced by three generations, who possess contrary ideals.
w w w . t r e n d b u e r o . c o m >> 25
People’s Republic of Change
Baby Boomers (1950 - 1964): Dominated by political figures and movements. They respond to politics and believe in heroes.
w w w . t r e n d b u e r o . c o m >> 26
Serving the people
Between the Chinese liberation in 1949 and the opening in 1978 Chinese consumers were mainly faced with instability and economical chaos.
The Great Leap Forward, the Famine and the
Cultural Revolution threatened China for three decades. In that period, people lost their identity, their privacy and even their right to an education. The only things that couldn’t be banned were their dreams.
Deficiency and limitation of goods shaped daily
life. Even money could not open all doors. Political power was the only accepted currency during this time.
People’s Republic of Change
„The Song of Lei Feng” romanticizes selflessness which shaped the whole
generation until the 80s.
w w w . t r e n d b u e r o . c o m >> 27
Money is power and power is everything
The baby boomers are hopeless romantics and fiercely nationalistic. While their romanticism of the Chinese Revolution might have turned into cynicism due to the Cultural Revolution, their
nationalism remained undiminished.
The baby boomers are frugal people, trained not to desire material goods and creaturely comfort. Nowadays some of them are the richest people in China. They splurge to impress. Money is power to them, and power
is everything.
Today, baby boomers are still the policy-makers and the parents who shape the mindset of the next generation.
People’s Republic of Change
This generation lost its creativity with the Cultural Revolution. Following and imitating others was the only way for social development.
w w w . t r e n d b u e r o . c o m >> 28
People’s Republic of Change
Generation X (1965 - 1979): A generation of realists woke up after Tiananmen Square protests, who believe only in themselves.
w w w . t r e n d b u e r o . c o m >> 29
People’s Republic of Change
In their young adulthood only some Western movies where available. But “Pretty Woman” came to China and libarated the Chinese dream.
First come, first serve
Generation X is influenced by the liberal spirit of the 80s, growing-up while China transitioned from a planned economy to market economy.
These entrepreneurs lived the Chinese dream. But after 1989 they underwent a value shift
from an idea of collective wealth to a focus on self, driven by political reforms as well as the privatization of China’s economy. New business opportunities replaced their enthusiasm for society and turned their hearts
to a single purpose: make money, and make lots of it.
They went from 20 years of depreciation and food coupons to over-supply. From 1,300 private car owners in the entire nation to three million in Beijing alone.
w w w . t r e n d b u e r o . c o m >> 30
People’s Republic of Change
Mr. and Mrs. X are opportunists. They were educated by Mao and trained by Bill Gates. They are open to new things and appreciate originality.
Money can change your life!
Generation X suffers a collective insecurity from living through so much change. They therefore trust in material security and status. 60% of them buy luxury goods to
increase their self-confidence1.
Their heroes are the rich and famous entrepreneurs who made it. They believe in Darwinism and they know how to work the system to their benefit. For them there is only an up or down but nothing in between while
the government dismantles its cradle-to-grave welfare system.
Generation X is the majority of these who keep the 80% of Chinese private business running. They make the money, show off the money, and spend the money. 1
TNS,
2006
w w w . t r e n d b u e r o . c o m >> 31
People’s Republic of Change
Generation Y (1980 - 1995): Possesses a Chinese mindset but a global lifestyle shaped by McDonald’s, Google and MBAs.
w w w . t r e n d b u e r o . c o m >> 32
People’s Republic of Change
Self-made web-clips offer the best insight to China’s youth detailing their dreams and believes first hand: dv.ouou.com
I am what I am. Your are serving me!
Generation Y is the first Chinese generation born into consumerism. They grew up in the information age with internet and mobile phones.
They are overwhelmed with information and
personal choices. Are you Hello Kitty or Rebel? Gym or Yoga? Stay in China or go abroad? Artist or businessman? Fake or real?
They are the first generation with the right to choose their career, lifestyle and cultural affinity. No wonder that 85% of them see
themselves as their role model.1 Consequently, the first generation of only children grows up in a modern environment, full of confidence in their future?
Sourc
e: 1
Sev
ente
en R
eader
s Po
ll, 2006;
Pic
ture
: htt
p:/
/dv.
ouou.c
om
w w w . t r e n d b u e r o . c o m >> 33
People’s Republic of Change
For Generation Y there is nothing wrong with hedonism and self-rewards.
Money gives access but no satisfaction
They buy because the product emotionally bond with their self identity, because of peer pressure, because it’s a fad.
They are often educated outside China and will spend more on luxury products, because they
won't know what it means to be without money. They are not frugal, nor do they buy status, believing that consumption is a part of self-expression.
Generation Y represents the future of China. Today, they are the ones dictating what is cool
and what is not. This generation will be the first where business and political elites will be surpassed by design and style elites.
w w w . t r e n d b u e r o . c o m >> 34
People’s Republic of Change
China’s culture today is mainly determinated by security, harmony, control and formation than lust, strangeness or sensuality.
Censorship
Communism
Selflessness
Growth
Disparity
Status
Nationalism
Capitalism
Community
Tradition
Sourc
e: S
EMIO
BEN
CH C
N b
y Tr
endbüro
w w w . t r e n d b u e r o . c o m >> 35
People’s Republic of Change
The next generation will open the door for a value shift towards consumerism, self-expression and hedonism.
Censorship
Communism
Selflessness
Growth
Disparity
Status
Nationalism
Capitalism
Community
Tradition
Consumerism
Self-Expression
Hedonism
Sourc
e: S
EMIO
BEN
CH C
N b
y Tr
endbüro
w w w . t r e n d b u e r o . c o m >> 36
The fundamental value shift
from communism to capitalism to consumerism will unleash a
new type of consumer with advanced preferences towards
brands, products and services. People’s Republic of Change
China turns into a global society
w w w . t r e n d b u e r o . c o m >> 37
1. People’s Republic of Change
2. Luxury in a shift
3. Faces of Luxury 2010
Agenda
Trend Insight Report: To Get Rich is Glorious
w w w . t r e n d b u e r o . c o m >> 38
Luxury in a Shift
This new luxury will possess elements of showing one’s status and self-reward. But the way to achieve it will shift to the next level.
w w w . t r e n d b u e r o . c o m >> 39
Luxury in a Shift
There are four different types of luxury consumers based on social background, luxury experience and income level.
Understaters Nouveau Rich Connoisseurs Spirituals
w w w . t r e n d b u e r o . c o m >> 40
Luxury in a Shift
While most of Chinese luxury shoppers are the nouveau rich, many of them are still looking for their place in the world of lux.
Nouveau Rich
Understaters
Spirituals
Connoisseurs
Sourc
e: S
EMIO
BEN
CH C
N b
y Tr
endbüro
w w w . t r e n d b u e r o . c o m >> 41
Luxury in a Shift
Nouveau Rich: Showing-off works! 65% of Chinese are convinced that people who own luxury brands are successful people.1
1 T
NS,
2006
w w w . t r e n d b u e r o . c o m >> 42
Luxury in a Shift
Nouveau Rich: Movie star Fan Bingbing is preferred star in advertisements and one icon for the Nouveau Rich in China.
I want to stand out!
Background: Entrepreneurs, celebrities or young businessmen who are the first in their family, who can afford luxury. They still rank themselves with “average” people.
Motivation: They want to show their success
and want to stand out from the mass. They don’t care about others, but due to their cultural background formation still rules.
Habits: To balance formation and their longing to be special they buy the most popular brands with high mass reputation
(Armani, BMW, Mercedes, Rolex, Gucci).
w w w . t r e n d b u e r o . c o m >> 43
Luxury in a Shift
Understaters: Not show but know! About 70% of Chinese believe that owning luxury brands doesn’t necessarily mean one is fashionable.1
1 T
NS,
2006
w w w . t r e n d b u e r o . c o m >> 44
Luxury in a Shift
Understaters: Successful actor Lu Yi spends his time with his family instead on superficial glamorous events.
I want to fit in!
Background: Successful creatives, rich people from behind the scene or experienced luxury consumers. They are international, speak English and understand luxury as a lifestyle.
Motivation: They want to fit in to a
sophisticated group of international and stylish people. They want to differentiate themselves from superficial show-off attitudes.
Habits: They mix established brands with niche brands to create their individual style
as long as it fits into the peer group. They tend to be a bit artistic and edgy (MINI, Y-3, Issey Miyake, Marc Jacobs, MIU MIU).
w w w . t r e n d b u e r o . c o m >> 45
Luxury in a Shift
Connoisseurs: Already today about 60% of luxury consumers buy luxury to reward themselves.1
1 T
NS,
2006
w w w . t r e n d b u e r o . c o m >> 46
Luxury in a Shift
Connoisseurs: Jiang Wen is a famous movie director and a king of the Chinese film. He enjoys his life away from the hustle and bustle.
I want to enjoy my life!
Background: Either they are self-made businessmen with a good self-perception or they grew up in a financial hedge. Money is seen as a key not as a treasure.
Motivation: They want to enjoy their life. Life balance and sensuality are very
important. “Soft luxury” is highly appreciated.
Habits: They often live a quite life, enjoy
excellent foods, traveling but also doing charity activities. Luxury brands have to offer them a personal relationship, a buying experience and high quality (Bulthaup, Patek Philippe, Ferretti Yachts, Cohiba, Hennessy).
w w w . t r e n d b u e r o . c o m >> 47
Luxury in a Shift
Spirituals: They are often overseas born Chinese. With a growing number of Chinese returning back home this group is slowly rising.1
1 F
rom
yea
r to
yea
r th
e num
ber
of
retu
rnin
g C
hin
ese
is r
isin
g –
30,0
00 p
eople
in
2005,
Blu
e Book,
2007
w w w . t r e n d b u e r o . c o m >> 48
Luxury in a Shift
Spirituals: Wang Fei is a talented singer who incarnates Asian musical culture. She lives an international, individual and edgy lifestyle.
I want to find myself!
Background: Grow up in a well off environment or with an artistic background. Financial problems are not relevant. Luxury goods are nothing more than commodities for
them.
Motivation: They want to find the meaning
of their life. They are looking for authenticity and spiritual experiences.
Habits: Spirituals are often involved in charity and fundraising. Though they are highly individualistic, striving for spiritual adventures and bored by the superficial world of luxury. Reversion to nature and the
primordial dominates their lives (Yö, Linda Loudermilk, Leica).
w w w . t r e n d b u e r o . c o m >> 49
Luxury in a Shift
Brand preferences of different consumer types.
Nouveau Rich
Understaters
Spirituals
Connoisseurs
Sourc
e: B
rand p
osi
tionin
g is
bas
ed o
n f
ocu
s gro
ups,
in-d
epth
inte
rvie
ws,
exp
ert
inte
rvie
ws
w w w . t r e n d b u e r o . c o m >> 50
Luxury in a Shift
China’s luxury market will be dominated by the Nouveau Rich and Under-staters, but Connoisseurs will have a significant impact on them.
Nouveau Rich
Understaters
Spirituals
Connoisseurs
Sourc
e: B
rand p
osi
tionin
g is
bas
ed o
n f
ocu
s gro
ups,
in-d
epth
inte
rvie
ws,
exp
ert
inte
rvie
ws
Consumerism
Self-Expression
Hedonism
w w w . t r e n d b u e r o . c o m >> 51
Luxury in a Shift
China’s luxury market will give birth to new attitudes towards luxury to keep pace with developing mindset of Chinese luxury consumers.
Nouveau Rich
Understaters
Spirituals
Connoisseurs
Consumerism
Self-Expression
Hedonism
Sourc
e: S
EMIO
BEN
CH C
N b
y Tr
endbüro
w w w . t r e n d b u e r o . c o m >> 52
Luxury in a Shift
These upcoming attitudes are the output of a sustainable shift in the mindset of luxury consumers.
Sensuality: Authenticity
Lust: Enjoyment
Strangeness: Experience
w w w . t r e n d b u e r o . c o m >> 53
Luxury in a Shift
With a rising consumers variety China’s luxury market will be more diversified.
Luxury
Premium
Masstige
True Premium
Prêt-à-Premium Luxury for beginners
Über-Luxury Celebrated excess
The promise of
The cheap has to be more attractive
Hard Discounting Basics have to cost next to nothing
Personal Luxury Personal wellbeing
w w w . t r e n d b u e r o . c o m >> 54
Luxury in a Shift
Those who want to succeed in China’s upper luxury segment they have to contribute sustainable value for a global luxury lifestyle.
China’s luxury shoppers of
tomorrow are brand savvy. For them the big price tag and an
even bigger label name doesn’t make a product luxury.
w w w . t r e n d b u e r o . c o m >> 55
1.People’s Republic of Change
2.Luxury in a Shift
3.Faces of Luxury 2010
Agenda
Trend Insight Report: To Get Rich is Glorious
w w w . t r e n d b u e r o . c o m >> 56
Faces of Luxury 2010
63% of the young Nouveau Rich want to enjoy the present moment as much as possible and 76% would pay more to buy natural healthy foods.1
The experiential, authentic and
enjoyable side of luxury products and brands will
determine if consumers consider them luxury or not.
1 M
cCan
n W
orldgro
up C
onsu
mer
Insi
ghts
and M
arke
t In
tellig
ence
, 2006
w w w . t r e n d b u e r o . c o m >> 57
Faces of Luxury 2010
Marketing will be dominated by seduction, education and establishing a 1-to-1 customer relationship.
Marketing Approaches
– In the future luxury consumers will save as much as possible, adhering to the motto: Make luxury an investment to make most of one’s life.
– Encourage national pride but don’t try to be Chinese.
– Revive your brand with enjoyable and entertaining content not with a painful
interruption of it.
– Take over responsibility and share your success. Charity is highly appreciated within the community of luxury buyers.
– For the majority of China’s upper class1 luxury will be out of reach. Affordable accessories will be a market to target. 1
15 m
io. Ch
ines
e w
ith a
nnual
inco
me
about
$ 3
2,0
00;
AC
Nie
lson,
2006
w w w . t r e n d b u e r o . c o m >> 58
Faces of Luxury 2010
Service makes the difference between counterfeit and original. Innovative services will be key in strong customer relationships.
Service Approach
– The rich has less time. Time saving services and efficiency at the POS are appreciated by customers.
– Chinese are comfort junkies. Space, silence and customization are important.
– Escapism is common in darwinistic China. Offer a shopping experience which allows to escape from reality for a moment.
– Luxury buyers adopt a global lifestyle and
are eager to learn about a brand. Coaching is more than welcome.
– Nowadays loneliness is pervasive in all social classes. Make your brand to a place where customers find kindred spirit.
w w w . t r e n d b u e r o . c o m >> 59
Faces of Luxury 2010
Products give brands a body and an appearance to make brand values alive. Therefore authentic luxury needs to be an experience for all senses.
Product
– Packaging is often the first brand experience for luxury consumers and therefore most important.
– China’s hyper-growth left a lack of pureness and authenticity. Products that tell a story about their origin and ingredients promise
a desirable piece of pureness.
– Chinese consumers live between national
pride and global attitudes. Global luxury goods touching Chinese tradition will find a grateful audience.
– Chinese are opportunists and believe what they see. They don’t just buy a product, they buy a bit of an admirable world of lux,
not made in China.
w w w . t r e n d b u e r o . c o m >> 60
Faces of Luxury 2010
Many brands which are successful in the West, flop in China. Therefore, fine-tune global strategies to regional distinctions.
The following seven cases
illustrate a scenario of the Chinese world deluxe in
2010.*
* A
ll c
ases
are
fic
tional
and n
ot
alig
ned
wit
h t
he
nam
ed b
rands.
w w w . t r e n d b u e r o . c o m >> 61
Gucci re-opens factories in Italy
Insight: 70% of Chinese appreciate the superior
quality of luxurious brands1 but doubt that
superior quality can be made in China.
Solution: While brand awareness is still low,
the country of origin is more important.
Therefore Gucci decided to re-establish some of
their factories in Italy. An Europe made Gucci
bag not only guarantees for superior quality but
can be easily identified as a counterfeit.2
Output: The trust in the quality of Gucci
products increased while the number of
counterfeits slightly declined.
Faces of Luxury 2010
Authenticity of a brand means consistency in design, communication, service and also manufacturing.
1 T
NS,
2006; 2
Man
y co
nsu
mer
s ar
e co
nvi
nce
d t
hat
som
e lu
xury
goods
sold
on b
lack
mar
ket
are
origin
als
stole
n f
rom
Chin
ese
fact
ories
.
w w w . t r e n d b u e r o . c o m >> 62
Oppenheim sold stamp edition in 30 days
Insight: After two decades of Westernizing
Chinese consumers rediscover their roots and
appreciate luxury that revive their tradition.
Solution: Oppenheim, maker of high-quality
writing instruments, released an edition of
signature stamps, which have a long tradition
in China. After launching a jade made USB-stick
last year, Oppenheim proved again its excellent
consumer understanding.
Output: Customers appreciate the classical look
of the black-white stamp but also the high
quality of the stamp signature, which is
handmade in China’s oldest stamp factory.
Faces of Luxury 2010
An individually made stamp and personally delivered by Oppenheim’s factory – an experience customers are willing to pay for.
Pic
ture
: Des
ign/R
ender
ing b
y XLP
lus
Des
ign,
Shan
ghai
; Co
nce
pt
by
Tren
dbüro
w w w . t r e n d b u e r o . c o m >> 63
Many women felt in love with Hermes
Insight: In a rushing, anonymous world with
over populated cities also luxury consumers are
looking for attention and unique experiences.
Concept: Hermes took-up this desire when they
introduced its new collection of luxury finesse.
With a handwritten, poetic letter store manager
Li Dan indulged the senses of Beijing’s luxury
elite. It took three days to write all letters but
in response many women felt in love with the
French luxury brand Hermes.
Output: And as its said Li Dan indulged not
only the senses of his upscale clients but also
their wallets and credit cards.
Faces of Luxury 2010
Luxury market is like a dating; it’s about long-term relationships. If customers think you just want money, they want a divorce.
w w w . t r e n d b u e r o . c o m >> 64
Three on the Bund opens Men Only Zone
Insight: China‘s Connoisseurs are spending
more for cosmetics and fragrances. They look
for shops that cater to their special needs –
shops which are bold, clean and cool.
Concept: Together with Lacôme Homme
Shanghai’s luxury shopping venue Three on the
Bund has established a pink-free world for male
toiletries, providing everything indulgent men
need to look and feel great.
Output: The royal comfort experience helped
Lacôme to introduce many other products and
made Three on the Bund the first choice of
men.
Faces of Luxury 2010
Consumers look for new, inspirational shopping experiences that excite the senses.
w w w . t r e n d b u e r o . c o m >> 65
Q206 opens a World of European Style
Insight: Many Chinese luxury consumers get
bored by luxury offers. Shopping should be
more like a journey to a desirable place.
Solution: Berlin based luxury department store
Q206 feels challenged and opens a World of
European Style in Beijing. It will be more like a
shopping palace where the cafe bar, library,
social club and gallery are part of the brand
experience.
Output: Customers can taste, smell, read and
touch brands facets and meet new friends in an
exclusive environment.
Faces of Luxury 2010
Shopping cathedrals are playgrounds for all senses and a great opportunity for sense branding at the point of sale.
w w w . t r e n d b u e r o . c o m >> 66
LV succeeds with sophisticated staff
Insight: Customers complain about pushy badly
trained staff in luxury stores.
Solution: Louis Vuitton recognized this
challenge early and educates its staff partly in
Hong Kong. They offer specific courses and
international staff exchange to push their staff
to the same sophisticated level as their
customers.
Output: Since LV also offers home visits to save
customer’s time, customers begin to build
personal relationships with their style
consultants during their “style-time” together.
Faces of Luxury 2010
The staff in showrooms are important communicators of the brand and a strong influence on the nouveau rich who have little brand knowledge.
w w w . t r e n d b u e r o . c o m >> 67
Ritz Carlton sells Grand Home Sweet
Insight: China‘s rich expect maximum comfort
and technology at home. After the kitchen,
attention is now focused on bed- and
bathroom, also installing specialty rooms such
as game rooms, yoga and wine rooms.
Concept: The upscale hotel chain Ritz Carlton
is successfully marketing their furnishings for
private homes. What people are looking for is
better relaxation – but also an exciting
atmosphere for certain moments.
Output: Ritz Carlton brings the mood of a
luxury hotel into people‘s home for sweeter
dreams and a stronger customer relationship.
Faces of Luxury 2010
Luxury consumers expect the same professionalism and quality of experience they enjoy outside in the comfort of their own homes.
w w w . t r e n d b u e r o . c o m >> 68
Faces of Luxury 2010
Curious to learn more about Chinese luxury consumers – their aspirations, life-drivers and longings? Contact us!
This summary illustrates only
the highlight of our research results. Please send us specific
questions about your luxury consumer of tomorrow.
w w w . t r e n d b u e r o . c o m >> 69
©2007
Contact
Dirk Jehmlich General Manager Asia-Pacific
Trendbüro #2108 Xintai Building | 8 Xiaguangli
Chaoyang District | 100016 Beijing | China d.jehmlich@trendbuero.com | http://www.trendbuero.com
Huang Hung CEO & Director of CIMG
CIMG #2 Jiuxianqiao Rd. | Chaoyang District | 100015 Beijing | China
xiaoqi.dong@cimgchina.com | http://www.cimgchina.com
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1. Desk Research online media, books, reports, white papers
2. Focus Groups 24 focus groups (1,5 hours) in Beijing, Shanghai, Shenzhen: 60% of the participants were female, 40% male; aged between 20 to 40 years with an available monthly income of about
3000 RMB. The majority of the participants hold a college or university degree.
3. In-depth Interviews
12 interviews (1 hour) with luxury consumers: 4 female and 8 male interview partner, aged
between 30 to 55 years with personal assets of about 250,000 EUR
4. Expert Interviews 15 interviews (1 hour) with marketing/sales representatives of premium and luxury brands
Research Methodology
From the big picture to the detail
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