2022年8月外文研究報(bào)告luxury marketing in china

INDUSTRIES

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MARKETSLuxurymarketinginChinaCHAPTER

01LuxurymarketoverviewRevenueoftheluxurygoodsmarketinChinafrom2014to2027(inmillionU.S.dollars)LuxurygoodsmarketrevenueinChina2014-202770,00065,60963,23460,86058,42260,00050,00040,00030,00020,00010,000055,93453,32744,08642,69739,98440,24235,37234,63333,94433,534201420152016201720182019202020212022202320242025202620273Description:RevenuefromtheluxurygoodsmarketinChinastoodatover42.7billionU.S.dollarsin2021.By2027,theNote(s):ChinaConsumerMarketOutlookestimatesrevenueinthismarkettoreacharoundto65.6billiondollars.Read

moreSource(s):ConsumerMarketOutlookPenetrationofluxurygoodsinChinaasofJune2021,byproductcategoryLuxuryproductpenetrationinChina2021,byproducttypeShareofrespondents0%10%20%30%40%50%60%70%69%80%ClothingJewelry/watchesShoes49%48%Bags46%Accessories45%4Description:AccordingtotheresultsofasurveyaboutluxuryconsumptioninChinain2021,around69percentofsurveyedluxuryconsumerswhoshoppedbetweenJune2020andJune2021purchasedluxuryclothing.Meanwhile,49percentofallrespondentssaidtheyboughtluxurybagsandjewelryorwatches.

ReadmoreNote(s):China;June2020toJune2021;approx.4,700luxuryconsumers;18-55years;amongmainlandChinaconsumersSource(s):199IT;BCG;TencentLeadingfashionluxurybrandsinChinain4thquarter2021,basedonMediaImpactValue*(inmillionU.S.dollars)LeadingfashionluxurybrandsbasedonMediaImpactValueinChinaQ42021ValueinmillionU.S.dollars80

1000204060120140160180180200DiorChanel171.3LouisVuittonGucci142.1107.4GiorgioArmaniHermes61.259.5Prada53.6TomFordFendi43.539.237.2Balenciaga5Description:Accordingtoareportonfashionluxurybrands,DiorremainedthemostinfluentialfashionluxurybrandinChinainthelastquarterof2021.The"MediaImpactValue"(MIV?)oftheFrenchhigh-endfashionhouseincreasedslightlyto180millionU.S.dollars.Chaneltookthesecondspot,trailingwith171millionU.S.dollars.LouisVuittonreplacedGucciasthethirdwithajumpof45millionU.S.dollarsinitsMIV?.ReadmoreNote(s):China;October1,2021toDecember31,2021;*Accordingtothesource,MediaImpactValue(MIV?)wasbasedonitsproprietaryMachineLearningalgorithmtomeasurethevalueofallmarketingactivities(includingposts,interactions,[...]ReadmoreSource(s):LaunchmetricsLeadingluxurybrandsinChinaasof2021,basedontheDigitalIQindex*LeadingluxurybrandsinChina2021,basedontheDigitalIQindexDigitalIQindex020406080100120140160LouisVuittonTiffany144142140139136133130127125122KateSpadeChanelPalphLaurenCoachGucciToryBurchSwarovskiMichaelKors6Description:ThisstatisticpresentstheleadingluxurybrandsinChinaasof2021,basedontheDigitalIQindex.Duringthesurveyedperiod,theFrenchfashionhouseLouisVuittonrankedfirstinChinawiththehighestDigitalIQindexof144points.Thebrandmaintainedthispositionforthethirdyearinarow.ReadmoreNote(s):China;2021;*TheGartnerDigitalIQindexisbasedonthesector-specificresearchtohelpbrandsunderstandhowdigitalizationisimpactingtheirindustry,andacomprehensive,customizedanalysisofabrand'sperformancerelativeto[...]ReadmoreSource(s):GartnerLeadingactionsthatforeignluxurybrandscouldadapttoattractChineseshoppersinChinain2022LeadingactionsforforeignluxurybrandstoattractconsumersinChina2022Shareofrespondents10%

20%0%30%40%50%60%70%LaunchingmoreexclusivecollectionsEstablishingstrongertieswithlocalKOLsandcelebritiesHiringmoreChinesedesigners62.9%53.8%40.3%Committingmoretosocialandenvironmentalisses"Rejuvenating"theirproducts39.3%37.1%Others0.5%7Description:AccordingtoasurveyamongChineseconsumersin2022,nearly63percentofrespondentsbelievedthatforeignluxurybrandscouldattractmoreChinesebuyersbylaunchingmoreexclusivecollections.Inthemeantime,about54percentofrespondentssaidthatestablishingastrongerconnectionwithlocalinfluencersandcelebritieswillhelpforeignluxurybrandstowinovermorecustomersinChina.ReadmoreNote(s):China;2022;1,000respondentsSource(s):DaxueConsultingCHAPTER

02LuxuryconsumersTypesofcontenteffectivelyattractingconsumerinterestinluxuryinChinaasofJune2021ContentsparkinginterestofconsumersinluxuryinChina2021Shareofrespondents30%

40%0%10%20%50%60%70%68%80%Brandservice/experienceCelebritymarketingCreativecontent73%65%Traditionalads58%Creativeevents54%Informationalarticles52%9Description:Asurveyof2021revealedthatthebrandserviceandexperienceisthekeyelementinsparkingChineseconsumerinterestinluxury,with73percentofrespondentssayingso.68percentofrespondentssharedthatcelebritymarketinghasalsodrawntheirattentioninbuyinghigh-endproducts.Ontheotherhand,informationalarticleshavesparkedtheinterestofconsumersinluxuryamongmorethanhalfofrespondents.ReadmoreNote(s):China;June2020toJune2021;4,700consumersofChinawhohavepurchasedluxurygoods;18-55years;coveringtier1to5cities;excludingHongKong,Taiwan,andMacaoSource(s):BCG;TencentMajorchannelssparkinginterestinluxurygoodsamonglightandmedium-spendingconsumersinChinaasofJune2021ChannelsfordevelopinginterestinluxuryinChina2021Shareofrespondents20%0%10%30%40%50%60%WeChatContent-focusedsocialmediaShort-videoplatformsOthersocialmedia53%27%19%12%Others4%10Description:WeChathasbecomethemosteffectiveonlinechannelinChinatoattractconsumerinterestinluxurygoods.AccordingtoasurveyasofJune2021,about53percentoflightandmedium-spendingconsumersreportedthattheyhaveusedWeChattodiscoverhigh-endproducts.Moreover,27percentofrespondentsstatedthatcontent-focusedsocialmediahavesparkedtheirinterestinbuyingluxury.ReadmoreNote(s):China;June2020toJune2021;4,700consumersofChinawhohavepurchasedluxurygoods;18-55years;coveringtier1to5cities;excludingHongKong,Taiwan,andMacaoSource(s):BCG;TencentMajorchannelssparkinginterestofheavy-spendingconsumersinluxurygoodsinChinaasofJune2021Channelsfordevelopinginterestinluxuryofhigh-endconsumersinChina2021Shareofrespondents30%0%10%20%40%50%60%WeChatBrandevents52%48%PhysicalstoresB41%28%Othersocialmedia24%11Description:Accordingtoaconsumersurveyin2021,WeChathadsparkedtheinterestofmorethanhalfofthesurveyedheavy-spendingshoppersinluxuryarticlesinChina.Thesurveyalsorevealedthatbrandeventswerethesecondmosteffectivechannelforluxurybrandstoattracthigh-endconsumers,with48percentofrespondentssharingtheopinion.ReadmoreNote(s):China;June2020toJune2021;4,700consumersofChinawhohavepurchasedluxurygoods;18-55years;coveringtier1to5cities;excludingHongKong,Taiwan,andMacaoSource(s):BCG;TencentMajorchannelsusedbylightandmedium-spendingconsumerstoresearchandmakepurchasedecisionsforluxurygoodsinChinaasofJune2021PopularluxuryresearchchannelsinChina2021Shareofrespondents20%0%10%30%40%50%60%WeChatContent-focusedsocialmediaShort-videoplatformsOthersocialmedia53%34%15%15%Others4%12Description:Accordingtoasurveyin2021,about53percentofChineselightandmedium-spendingconsumersreportedthattheyhaveusedWeChattoresearchluxuryproducts.Moreover,amongothertypesofchannels,content-focusedsocialmediaalsohelpedconsumerstoresearchbeforemakingapurchasingdecisionforhigh-enditems,withashareof34percentofrespondents.ReadmoreNote(s):China;June2020toJune2021;4,700consumersofChinawhohavepurchasedluxurygoods;18-55years;coveringtier1to5cities;excludingHongKong,Taiwan,andMacaoSource(s):BCG;TencentMajorchannelsusedbyheavy-spendingconsumerstoresearchandmakepurchasedecisionsforluxuryinChinaasofJune2021Researchchannelsusedbyhigh-endconsumersforluxuryChina2021Shareofrespondents30%0%10%20%40%50%60%WeChatBrandevents54%42%PhysicalstoresB40%30%Othersocialmedia23%13Description:WeChathasbecomethemajorchannelusedbytheChineseconsumerstoresearchandmakepurchasedecisionsforluxury.A2021surveyrevealedthat54percentofheavy-spendingconsumersinChinausedWeChattolookforluxuryinformation.Brandeventswereanotherimportantmedium,with42percentofrespondentssayingso.ReadmoreNote(s):China;June2020toJune2021;4,700consumersofChinawhohavepurchasedluxurygoods;18-55years;coveringtier1to5cities;excludingHongKong,Taiwan,andMacaoSource(s):BCG;TencentDistributionofluxurygoodsshoppingchannelsinChinaasofJune2021LeadingshoppingchannelsforpurchasingluxurygoodsinChina2021Shareofrespondents0%10%20%30%40%50%50%60%Domesticofflinestores,pop-upstores,etc.Brandwebsites11%11%Domestice-commerceplatformsCross-bordere-commerceplatformsOverseasofflinestores,pop-upstores,etc.Brandmini-programs9%8%8%Daigou(incl.WeChat/Taobao)2%14Description:AccordingtotheresultsofasurveyabouttheluxuryconsumptioninChinain2021,around50percentofsurveyedluxuryconsumerswhoshoppedbetweenJune2020andJune2021purchasedluxuryitemsinphysicalstoresinmainlandChina.Around11percentofrespondentsshoppedonbrandwebsites.ReadmoreNote(s):China;June2020toJune2021;approx.4,700luxuryconsumers;18-55years;amongmainlandChinaconsumersSource(s):199IT;BCG;TencentCHAPTER

03MarketingstrategiesContentdistributionofdigitalfashionmarketinginChinain2021,bybrandpositionContentdistributionofdigitalfashionmarketinginChina2021,bybrandposition45%41.9%40%35%30%25%20%15%10%5%29.5%21.8%6.8%0%Low-endbrandsMid-rangebrandsAffordableluxurybrandsLuxurybrands16Description:LuxurybrandswerethemostactivedigitaladvertisersintheChinesefashionindustry,accountingfornearly42percentofthetotaldigitalmarketingcontentbetweenJanuaryandJuly2021.Low-endbrandswererelativelylessengagedbuthadachievedahigherlevelofinteractionswithtargetadaudience.

ReadmoreNote(s):China;JanuarytoJuly2021Source(s):QuestMobileDistributionofdigitalmarketingaudienceengagementinfashionindustryinChinain2021,bybrandpositionEffectivenessofdigitalfashionmarketinginChina2021,bybrandposition70%60%50%40%30%20%10%0%57.3%26.6%10.6%5.5%Low-endbrandsMid-rangebrandsAffordableluxurybrandsLuxurybrands17Description:Withtheirreputationandextensiveinfluencercollaborations,luxurybrandsinChinatendtoperformbetterindigitalmarketinginthefashionindustry.BetweenJanuaryandJuly2021,over57percentofthetotalaudienceinteractionofdigitalfashionmarketingcamefromhigh-endcompanies.Low-endfashionbrands,thoughlessactiveinmarketingposts,canstillcaptureconsumerattentioneffectivelywithtrendysocialtopics.ReadmoreNote(s):China;JanuarytoJuly2021Source(s):QuestMobileShareofmarketingpostsofluxurybrandsinChinain2021,bycityLuxurybrandmarketingpostsshareinChina2021,bycityShareofposts0%2%4%6%8%10%12%14%16%18%20%ShanghaiBeijing18.37%10.46%ChengduShenzhenNingbo6.12%5.99%4.21%3.57%2.93%2.93%2.17%1.66%NanjingHangzhouWuhanSanyaGuangzhou18Description:In2021,ShanghaiandBeijingwerethemarketingfocuspointsofluxurybrandsinChina,accountingforover28percentofluxurypromotionpostsandcompanyupdates.ThetwocitiescontributedthemostinurbanconsumergoodssalesrevenueR.

eadmoreNote(s):China;2021Source(s):LuxeCOIntelligence;NetEase;NumberofbrandpromotionpostspublishedbymajorluxurybrandsonWeiboinChinain1stquarter2021and1stquarter2022LuxurybrandmarketingpostsonWeiboinChinaQ12021-Q12022NumberofpostsQ1202240Q120210102030506070808090DiorPrada53443034Gucci528Cartier1526OmegaIWC1919881616TiffanyLouisVuitton719Description:DiorwasthemostactiveluxurybrandusingWeibotopromoteitsbrandstoryinChina.Thecompanypublishedatotalof80brandmarketingpostsontheChineseTwitter-likeplatforminthefirstquarterof2022,asignificantincreasefrom53postsinayearago.

ReadmoreNote(s):China;Q12021andQ12022Source(s):LuxeCOIntelligence;WeiboNumberofnotespublishedbymajorluxurybrandsonXiaohongshuinChinain1sthalfof2022MostactiveluxurybrandsonXiaohongshuinChinaH12022Numberofnotes1,00002004006008001,2001,4001,6001,8002,0001,9632,200Lanc?meEstéeLauderL'Oréal1,8521,816LaMer1,506Dior1,489JoMaloneGiorgioArmani72457920Description:Lanc?mewasthemostactiveluxurybrandonXiaohongshu,theChineseequivalentofInstagram.Inthefirsthalfof2022,thebrandposted1,963notesontheplatform,generatingover6.5millionuserinteractionsR.

eadmoreNote(s):China;January1toJune18,2022Source(s):QianguaDataNumberof"zhongcao"notesmentioningselectedluxurybrandsanduserinteractionsonXiaohongshuinChinain1sthalfof2022(in1000s)RecommendationmarketingofluxurybrandsonXiaohongshuinChinaH12022NumberofnotesNumberofinteractionsChanel1528317490120609630DiorYvesSaintLaurentLanc?me48471092021Description:Inthefirsthalfof2022,ChanelwasthemostpopularluxurybrandmentionedinXiaohongshu's"zhongcao"notes.Over17,000recommendationnotesontheChineseequivalentInstagramlabelledChanelR.

eadmoreNote(s):China;January1toJune18,2022Source(s):QianguaDataAccumulatednumberofviewsofDouyinhashtagsrelatedtoluxuryitemsinChinain3rdquarter2021(inmillions)MostpopularluxuryproducthashtagsonDouyininChinaQ32021Numberofviewsinmillion100

2000300400500600600700#putonyourhardwear(Tiffany&Co.)#guccifloragardenia(Gucci)300#tissotnbaofficialtimer(Tissot)#luxuryrecycle20090#valentinorosso(Valentino)#cartiertank(Cartier)6340#prada2022springwomensfashionshow(Prada)#mondogenius(Moncler)171522Description:TheluxuryjewelryretailerTiffany&Co.carriedoutasuccessfulmarketingcampaignontheChineseshortvideoappDouyininthefallof2021.Itshashtag#putonyourhardware(inChinese)gainedover600millionviewsintotalontheTikTok-likeapp.ReadmoreNote(s):China;Q32021;allfiguresaretheminimumvaluespresentedintheoriginalreportSource(s):OceanEngineSalesrevenuedistributionofmajorluxurycosmeticsbrandsonDouyinandKuaishouinChinaasofMarch2022,bymarketingconversionmethodSocialmarketingstrategiesofluxurymakeupbrandsinChina2021-2022ShareofmarketingpostsAffiliatelinksinvideos

Affiliatelinksinlivestreams40%

50%

60%

70%Contentmarketing20%

30%0%10%80%90%100%EstéeLauderGiorgioArmaniGivenchyClédePeauBeautéLanc?meDior23Description:Forsomeluxurymakeupbrands,affiliatemarketingwithlivestreamersonDouyinandKuaishoucanboostsalesrevenue.BetweenJanuary2021andMarch2022,GiorgioArmani,Givenchy,andClédePeauBeautéhadover60percentoftheirsalesrevenuegeneratedbyreferrallinksinlivestreamingsessions.Ontheotherhand,EstéeLauderandLanc?mereliedheavulyoncontentmarketingforsalesconversion.ReadmoreNote(s):China;January2021toMarch2022;basedonestimatedsalesrevenueonDouyinandKuaishouSource(s):QianguaData;SohuCHAPTER

04MarketingchannelsShareofdigitalluxuryadspendinginChinainAugust2021,byinternetplatformLuxuryadspendshareofdigitalplatformsinChina2021Shareofadspend0%10%20%30%40%50%60%WeChatMomentsBaidu50%28.6%Douyin6.1%Weibo3.5%Xiaohongshu(RED)2%25Description:InAugust2021,abouthalfofluxuryadspendinginChinawasallocatedonWeChatMoments.WeChatMoments,afundamentalfeatureonWeChatlikeFacebookTimelineorTwitterNewsFeed,arecommonlyusedbymarketersinChinatopullinnewcustomers.ReadmoreNote(s):China;August2021Source(s):QuestMobileMajormarketingchannelsforfashionluxurybrandsinChinain4thquarter2021,basedonshareofMediaImpactValue*MajormarketingchannelsforfashionluxurybrandsinChinaQ42021ShareofMediaImpactValue20%

25%0%5%10%15%30%35%40%45%50%MediaInfluencersCelebrities47.5%41.6%6.1%OwnedmediaPartners3.4%1.5%26Description:Accordingtoareportonfashionluxurybrands,mediaremainedthemostvaluablemarketingchannelinChina,contributingabout47,5percentofthemajorluxurybrands'MediaImpactValue(MIV?)inthelastquarterof2021.Whileinfluencershavebecomeincreasinglyimportantforbrands,celebritiescontinuetogarnerhighmarketingvalues.Inasocialmediapost,Chineserapper,dancer,andactorLayZhanggeneratedabout771,000U.S.dollarsinMIV?forValentino.ReadmoreNote(s):China;October1,2021toDecember31,2021;*Accordingtothesource,MediaImpactValue(MIV?)wasbasedonitsproprietaryMachineLearningalgorithmtomeasurethevalueofallmarketingactivities(includingposts,interactions,[...]ReadmoreSource(s):LaunchmetricsMediaImpactValueofleadingfashionluxurybrandsinChinain3rdquarter2021,bysocialchannel(inmillionU.S.dollars)MediaImpactValueoftopfashionluxurybrandsinChina2021,bysocialchannelMediaImpactValueinmillionU.S.dollars050100150200250300WeiboXiaohongshu(RED)Douyin267.58132.4568.6264.01WeChatInstagramBiliBili44.7915.71YouTube2.791.16FacebookTwitter

0.1427Description:Inthethirdquarterof2021,leadingfashionluxurybrandsinvestedroughly600millionU.S.dollarsinsocialmediamarketinginChina.ThemostpopularsocialchannelwasWeibo,garneringmorethan267milliondollarsor45percentofthetotalMediaImpactValue(MIV?).REDandDouyinfollowed,with132.5millionand68.6million,respectively.ReadmoreNote(s):China;July1,2021toSeptember30,2021Source(s):LaunchmetricsMostpopularluxurybrandsonWechatandWeiboamongluxuryconsumersworldwideasofMay2022(indexscore)MostpopularluxurybrandsonWechat&Weibo2022Scoreonascalefrom1to10040

5001020306070809088100LouisVuittonDior8383GucciChanel80JimmyChooFendi74727170GivenchyTod`sPrada6969ErmenegildoZegna28Description:Inspring2022,itwasfoundthatLouisVuittonwasthemostpopularluxurybrandonWeChatandWeibo,withascoreof88pointsoutof100.ItwasfollowedbyFiorandGucci,eachwith83pointsR.

eadmoreNote(s):Worldwide;AprilandMay2022Source(s):VogueBusinessNumberofactiveXiaohongshuusersfollowingmajorluxurybrandsinChinainAugust2021(inmillions)LeadingluxurybrandsonXiaohongshuinChina20217065.6258.41605040302010055.7331.5CartierDiorBulgariGucci29Description:Withalargeyoungfemaleuserbase,Xiaohongshuisanimportantchannelforluxuryadvertiserstoraisebrandawarenessandgeneratesales.Cartierisoneoftheluxurygoodsconglomeratetoswitchitsmarketingstrategyonthesocialcommerceplatform.AsofAugust2021,Cartier'sXiaohongshuofficialaccounthadgatheredover65.6millionactiveusers.ReadmoreNote(s):China;August2021Source(s):QuestMobileNumberofweeklysearchesofmajorluxurybrandsonDouyininChinaasofAugust13,2022MosttrendingluxurybrandsonDouyininChina2022Numberofusersearches100,000050,000150,000200,000202,409250,000DiorCoach182,558169,685163,641CartierTissotPandoraPrada162,649161,902BalenciagaGucci154,923154,377152,209LonginesBulgari148,02830Description:DiorwasthemostpopularluxurybrandontheChineseshortvideoappDouyin.DuringtheweekfromAugust7to13,2022,over202,000searcheswererelatedtoDioronDouyin.Coachcameinsecondwithabout183,000searches,followedbyCartier.ReadmoreNote(s):China;August7to13,2022Source(s):OceanEngineCHAPTER

05InfluencersNumberofactiveusersattractedbykeyopinionleaders(KOLs)inChinaasofMay2022,byplatform(inmillions)ActiveuserbaseofinfluencersinChina2022,byplatformNumberofactiveusersinmillions300

4000100200500600700800900WechatOfficialAccountDouyin810604Weibo394Kuaishou323Bilibili160Xiaohongshu(RED)14232Description:AsofMay2022,theKOLs(KeyOpinionLeaders)onDouyin-TikTok'sChinesesisterapp-attractedaround604millionactiveusersinChina.ItslocalrivalKuaishouwasanotheractiveplatformforinfluencermarketing,with323millionactiveusersfollowingcontentcreatedbyKOLs.

ReadmoreNote(s):China;May2022Source(s):QuestMobileDistributionoffashionkeyopinionleaders(KOLs)inChinain2021,bymarketsegmentandfollowernumberFashionKOLsdistributioninChina2021,bymarketsegmentandfollowernumberBelow100,000followers

100,000to500,000followers

500,000to1millionfollowers

1millionto10millionfollowers

Over10millionfollowers100%8%9.9%12.6%14.1%90%80%70%60%50%40%30%20%10%0%12.7%16.6%5.8%3.9%6.3%20.3%22.5%4.7%4.1%19.9%15.1%13.2%69.2%47.8%47.3%46.1%Low-endbrandsMid-rangebrandsAffordableluxurybrandsLuxurybrands33Description:Manyluxuryfashionbrandspartnerwithtop-tierinfluencersandcelebritiestopromotetheirbrandsinChina.BetweenJanuaryandJuly2021,over36percentofthedigitalmarketingcontentofhigh-endfashioninChinawascontributedbyinfluencerswithoveronemillionfollowers.Low-endfashionmarketingwasmainlydrivenbykeyopinionconsumerswhohavelessthan100,000followers.ReadmoreNote(s):China;JanuarytoJuly2021Source(s):QuestMobileMediaImpactValueofluxuryfashioninfluencermarketinginChinain3rdquarter2021,bynumberoffollowers(inmillionU.S.dollars)LuxuryfashioninfluencermarketingMediaImpactValueinChina2021,byfollowersMediaImpactValueinmillionU.S.dollars0102030405060708090Morethantwomillion500thousandtotwomillion100thousandto500thousand10thousandto100thousand55.8682.133.449.030to10thousand

0.1734Description:Inthethirdquarterof2021,leadingfashionluxurybrandsinvestedroughly181