Luxury Goods Giants: Fat In The Chinese Market And "Hard To Eat"

To celebrate the Spring Festival overseas is no stranger to many Chinese nowadays. market Play a leading role. To welcome the following Chinese guests, all kinds of extravagance. brand One after another.

However, the seemingly attractive cake is not a good bone. When the major brands enter the market strongly, it is found that the traditional marketing mode may not be applicable to the Chinese market, and the emerging Chinese market has a unique personality.

First of all, insiders say that although the purchasing power of the affluent in China is not lost to the developed countries, it is an immature idea to sell quickly here. Kai Jun, chief financial officer of ENZO group, said: "the cultivation of China's market often requires a long-term process. It is unrealistic to want to be a big gun here. We need to have enough exposure and coverage to pave the way for it. We can try to develop different brand families for different markets under the same big brand.

Secondly, in terms of brand promotion, international luxury brands have not done enough homework. Digital Luxury Group, general manager of China Pablo Mauron, points out that selling online is a way of being rejected by most luxury retailers, but this is a feasible way in China. He also found that Baidu accounted for 70% of China's search engine market share. However, only 40% of luxury goods had been advertised in Baidu and missed a lot of opportunities.

Third, the after-sales service of luxury goods needs to be improved in China. John Chattock, partner of KPMG accounting law firm, said he and his clients expressed dissatisfaction with the luxury sale service in China. Luxury brands focus on different regions, and global brand maintenance is very important.

In KPMG's China luxury experience report, it is recommended that overseas Luxury goods We need to make more use of new technologies to increase interaction with young consumer groups, including the use of new Internet marketing platforms such as micro-blog.

The report also showed that luxury brands perceived by mainland consumers rose from the past 45 to 57 this year. This means that the new brand will have to make greater efforts if it wants to enter the consumer's perspective and the old brand must have sustained competitiveness. The market is also becoming increasingly crowded and the competition threshold is also rising.