SHANGHAI: Sales in China’s luxury goods sector surged ahead in 2017, growing six times faster than in 2016, driven in large part by the spending habits of millennials, according to a new report from Bain.
NEW ORLEANS: Shinola, the lifestyle brand, has built loyalty through “The Foundry”, a members only group enjoying benefits such as seeing and buying products before official launch, exclusive offers, and private online shopping events.
BEIJING: JD.com, the Chinese e-commerce group and a major rival to Alibaba, has launched a standalone online luxury platform that aims to help global brands to cater for China’s vast demand for luxury personal goods.
SHANGHAI: Luxury brands have long been wary of China’s e-commerce platforms – which are rife with fake goods – but with Chinese e-retailing now worth US$751bn annually, they can no longer afford to look away.
GLOBAL: Sephora, the LMVH-owned beauty retail brand, has launched a new platform, the Beauty Insider Community, which sits within its ecommerce site to encourage fans to talk about new product releases, trends, and deals.
TOKYO: Despite the luxury sector’s traditional reluctance to embrace direct-to-customer ecommerce solutions for sales, two mature luxury markets have shown a particular divergence as just 73% of brands in Japan have adopted, compared to 90% ...
BOSTON/MILAN: Global sales of personal luxury goods are forecast to grow by between 2% and 4% in 2017, as higher spending in China and increasing consumer confidence in Europe offset a weaker outlook in the US and the rest of Asia.
PARIS: LVMH, the world's biggest luxury group, is planning to debut a new multi-brand e-commerce platform as early as June and the company's chief digital officer is confident it will have an edge in an already crowded online market.
BEIJING/NEW YORK: Luxury brands have detected an upturn in China, although observers have cautioned that the nature of market has changed since the last boom and that brands will need a different approach to be successful.
NEW YORK: Quality, exclusivity and craftsmanship are some of the characteristics traditionally associated with luxury brands, but to compete in today's market, brands must tap into the modern consumer mindset, according to a leading marketing ...
BEIJING: Luxury brands in the west are playing catch-up with their mainstream counterparts when it comes to leveraging digital, but they need to re-learn their approach when tackling China, a new report suggests.
This article, taken from the Warc Toolkit 2017 report, looks at the growing number of brands that are exploring direct-to-consumer (DTC) opportunities with the help of apps, buy buttons and subscription services.
Euromonitor Strategy Briefings, April 2016
This report discusses the future of the global luxury goods industry, including changes in key markets, the impact of luxury wearables and how brands are looking for more meaningful 'luxury experiences'.