BCG: China to Drive 70 Percent of Global Luxury Growth by 2024
Sarah Willersdorf, partner and managing director of Boston Consulting Group (BCG), told us about why Chinese luxury consumers are significant and how brands can crack the market.
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- Why are Chinese millennial consumers so important to the global luxury market?
- What are some characteristics that BCG has noticed that set the Chinese millennial apart from their Western counterparts?
- How can luxury brands in China keep up to date with their preferences and consumption behaviors?
- In your opinion, is it necessary for luxury brands to have an e-commerce presence in China?
- Is working with online influencers/KOLs a must-have now for luxury brands in China?
- What are BCG’s predictions for next year’s growth in the Chinese luxury market?
- What do you see as the major challenges or threats to the growth of the Chinese luxury market?
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