Chinese shake the luxury sector with an expected consumption growth for 2017

After a long season of contraction in the expenditure in the final quarter of 2016 and forecasts of continuity for the first 6-9 months of 2017, the Chinese luxury market will grow. Exane BNP Paribas supports this prediction, saying the change in direction will be directed by young Chinese customers who have developed their own taste. The luxury brands are called to rationalise their distribution network: the best-positioned fashion houses seem to be Prada, Burberry and Richemont group. The success on the Beijing market also passes by the use of e-commerce channels. Italian Fashion houses e-commerce efforts are so scattered that it’s difficult to predict their performance. The study says “The Online Purchase Experience China 2016” drawn up by the same Exane BNP Paribas with ContactLab. To explain the results of the report is Massimo Fubini, CEO of Contactab: “European luxury brands must be able to offer Chinese consumers a digital experience that is perceived as personalised and perfect”. What is the state? “While Armani and Tod’s part have adopted the same look & feel for the American digital site and Chinese – continues Fubini -, preferring the consistency of brand image, Burberry, on the contrary, has made an extra effort to personalise the content of the site for its Chinese consumer base. For example, recently it was chosen as the face pop star Kris Wu, and the result was an increase in sales among local consumers. ” The British group, in this sense, is the leader: “Burberry is leading the way to the location because of content that speaks to the local market and that, therefore, can retain those consumers – concludes Fubini -. I believe that, overall, the international luxury brand should pay more attention to the selection of communication methods and localisation of content, to adapt effectively to such a different market like China.”

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