How Brands Are Missing Opportunities with Wealthy Chinese: Ruder Finn/CSG Report
Jing Daily had a deep conversation with Ruder Finn and Consumer Search Group on what are missing opportunities for luxury brands in 2019.
Luxury brands will have to stay on top of fashion trends, keep being innovative, and provide a seamless online/offline shopping experience to win over consumers in 2019. Some of the strategies they are trying right now, the experts warn, aren’t ones that will work. Photo: Shutterstock
Luxury brands will have to stay on top of fashion trends, keep being innovative, and provide a seamless online/offline shopping experience to win over consumers in 2019. Some of the strategies they are trying right now, the experts warn, aren’t ones that will work. Photo: Shutterstock
Contents
- Q: In your report, mainland consumers said they value luxury brands that are constantly innovative and trend-setting. What is the implication of this to brands? In their quest to follow trends and innovate accordingly, how can they also maintain the consistency of their brand DNA ?
- Q: Back to your list again, a “partnership/collaboration” isn’t at all an important factor in determining whether a brand is winning or not to both Hong Kong and mainland consumers. But collaborating and partnering with different brands, magazines, platforms and influencers are exactly what luxury brands are striving for today. What’s your take on that?
- Q: The report said, “Omnichannel presence is a must.” How are luxury brands in China doing in terms of forming omnichannel retail strategies?
- Q: How likely is it for luxury brands to become omnichannel players without collaborating with Alibaba or Tencent?
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