Debunking six myths about the Chinese luxury consumer

This event report discusses and questions several myths about luxury shoppers in China. Some of the main misapprehensions include: they just want to accumulate more possessions (in fact, product quality is a priority); they can effectively be told what to buy (in reality, they are evermore educated and discriminating); they always look at the logo first (standing out is increasingly important); they are purchasing high-end goods online (the in-store experience is still highly valued); they like direct mail (mobile tools like WeChat are the preferred option); and they enjoy flaunting their wealth (sharing news about luxury purchases now typically occurs in private, one-to-one forums, such as via Skype).

Debunking six myths about the Chinese luxury consumer

Low Lai Chow

"There is a lot of confusion when people talk about luxury in China," Francis Belin, svp/consumer goods for Greater China at Swarovski, the crystal jewellery and accessories group, told delegates at the Festival of Media Asia Pacific 2014.

More specifically, Belin argued, many observers believe that the country's affluent shoppers have "switched dramatically from high-end luxury to more middle class" purchases. And he summed up the appropriate response to such a claim in simple terms: "It's not true."

What has changed, Belin reported, is the habit of giving gifts...

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