www.cbbc.org © china-britain business council the chinese art market: opportunities &...
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© China-Britain Business Council
The Chinese Art Market: The Chinese Art Market:
Opportunities & Opportunities &
ConsumerismConsumerism
By 2020 the incomeBy 2020 the income
of China’s population of China’s population
will doublewill double
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More than 160 citiesMore than 160 cities
with a population over with a population over
1m1m
In US just 9In US just 9
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The 12th Five Year Plan• Wealth distribution• Inland development• Consumption• Social Security• Higher Value• Innovation• Services• Green Growth
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Five Myths of Chinese Art
1) It’s all about speculation
2) It’s all about forgery
3) There are no rules
4) It’s only a local market
5) It’s all about Mao / Imperial
Forbes Magazine 2014
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Middle Income Consumers
•Around 70% of urban household are middle income
households, 175m will grow to 275m by 2022
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Urban Consumption
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Consumer Pressures
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80% of purchases by Chinese luxury consumers have been researched on social media
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Luxury Buyers
20%
70%
10%
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Quality
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Trends, opportunities and tips
• Growing market, local partnerships
• Be government aware
• Understand human story and where the need is
• Speed and technology / Conservative insular
• Foreign advantage: knowledge, innovation and
brand
• Investments, passions and consumption
• Online and innovative approach for younger
consumer
• Provide professional and personal education and
services
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How to succeed?
• See China through Chinese eyes
• Align to help Chinese growth, consumption and
innovation
• Takes air miles, shoe leather and empathy. A
deep understanding of the Chinese mindset is
crucial. China is not as other nations.
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Our Top Tips
1. Don’t forget the basics.
2. Remember China is not one single national
market.
3. Do your homework.
4. Recognise the value of relationships.
5. Be patient and persistent.
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