Luxury and China's netizens: the market and the audience
The luxury market in China is huge and growing fast – and that is reflected in conversations online. In the white paper 'The voice of luxury: social media and luxury brands in China', media agency group GroupM and social media monitoring company CIC examined the 'buzz' around luxury products online, including analysis of BBS (bulletin boards) and microblog posts. The goal is to provide luxury marketers with some pointers on listening and responding to this highly influential audience. For more on the study click here.
Luxury Category Overview
Chinese luxury consumption is projected to grow 18% annually from 2010 to 2015, by which time it will total RMB 180 billion, accounting for over 20% of the global luxury market (according to McKinsey). The Chinese luxury market is booming. Many international brands are expanding their investment in China and opening a lot of new stores, not only in tier-one cities like Beijing and Shanghai, but also in lower-tier cities as well.