久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Luxury brands playing catch-up in online pitch to Chinese consumers

By LIA ZHU in San Francisco | CHINA DAILY | Updated: 2020-06-16 07:42
Share
Share - WeChat
The logos of French luxury group Kering and fashion house Balenciaga are pictured on Kering headquarters in Paris, April 20, 2020. [Photo/Agencies]

Luxury brands are looking to Chinese e-commerce sites to boost sales as their businesses struggle in the rest of the world due to the COVID-19 pandemic.

But experts say Western brands aren't yet in a position to be successful in China, the world's most important luxury market, because of their reliance on brick-and-mortar stores and lack of savvy when it comes to digital retailing.

Fashion house Balenciaga is among the latest brands to join Alibaba Group's e-commerce site Tmall. Balenciaga's Tmall store opened last month and is the Paris-based brand's only online official flagship store on a third-party platform.

Affected by the coronavirus pandemic, US fashion brand Michael Kors also turned to Tmall to launch a new customization service ahead of a global rollout later this year. The brand recently initiated its first Super Brand Day, a Tmall program allowing participating brands to offer flash sales and special offers on their Tmall storefront.

Bulgarian shoe brand By Far recently opened a flagship store on Tmall's rival, JD. The coveted brand has seen 65 percent of its products sell out after just four days, and about 90 percent of its products sold out after a month, according to a JD news release.

Apple, in partnership with Tmall and JD, has cut prices of its latest iPhones in China ahead of a major annual online shopping festival called 6.18.

Many global brands are focusing their post-outbreak e-commerce retail strategies on Chinese consumers as they emerge from lockdown and get ready for online shopping events.

"We expect China's luxury segment to come back fastest, hence it is critical for brands to be well-positioned with Chinese luxury consumers," said Daniel Langer, CEO of management consulting firm Equite and a professor of luxury strategy at California's Pepperdine University.

Chinese consumers are responsible for around 40 percent of the global luxury market, and that is expected to grow to 50 percent by 2030, according to a forecast by Equite.

As the Chinese market returns to normal, and Europe and the US are just starting to reopen their economies, the ability to connect with Chinese consumers can define whether a business survives or not, Langer said.

"For many Western brands, it will be critical to participate now in the rebound of the Chinese economy and the increasing appetite of Chinese consumers to restart spending, as their businesses in the rest of the world struggle or even come to a standstill," he said.

'Come back in a big way'

Adriel Chan, executive director of Hong Kong-based Hang Lung Properties, said the luxury sector has "come back in a big way".

The company owns 11 mostly high-end shopping centers in China.

"April (sales were) basically equal to last year," Chan said at a recent webinar held by Asia Society Southern California. "That's a little bit surprising in the magnitude of the recovery, so I think that if this continues, luxury retail, at least in the Chinese mainland, will continue to do very well."

In China, luxury brands are shifting strategy to take advantage of all the online channels available, he said. "The luxury brands' CEOs that we talked to just a year ago were saying that online sales were accounting for 5 to 7 percent, and they saw it going up to maybe 15 percent when we most recently spoke to them," he said.

But Langer noted that most Western brands are held back in China because of their high dependency on physical locations and a lack of mastery in the rapidly changing area of digital social media and social selling.

"There are two particularities of Chinese consumers that are different to other markets-they are the youngest luxury consumers with a sweet spot between 25 and 35 years of age, and they are the most digital," he said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产福利一区二区在线精品 | 中文国产成人精品少久久 | 韩国成人毛片aaa黄 韩国福利一区 | 一级毛片在线不卡直接观看 | 精品国产亚洲一区二区在线3d | 91成人爽a毛片一区二区 | 日韩久久中文字幕 | 99久久精品免费看国产免费 | 日韩欧美在线一区二区三区 | 亚洲综合日韩欧美一区二区三 | 97视频免费在线观看 | 免费观看国产精品 | 成人91| 18年大片免费在线观看 | 国产猛烈无遮掩视频免费网站男女 | 欧美超高清xoxoxoxo | 欧美自拍视频 | 国产欧美一区二区成人影院 | 欧美成人第一页 | 亚洲图片视频在线 | 日本一级毛片视频无遮挡免费 | 国产一级a毛片高清 | 国产一区二区三区四区在线 | 欧美日韩一区二区三区视频播 | 久久久久久91 | 一级片免费视频 | 美女舒服好紧太爽了视频 | 精品国产亚洲一区二区三区 | 在线观看亚洲免费 | 国产亚洲一区二区三区在线观看 | 亚洲欧美日韩天堂 | 手机福利片 | 欧美高清在线视频在线99精品 | 国产精品特级毛片一区二区三区 | 一级毛片免费视频网站 | 亚洲成人精品 | 美女被躁免费视频软件 | 精品久久久久久国产91 | 亚洲国产观看 | 国产一级做a爱免费观看 | 成人手机视频在线观看 |