When it comes to luxury, Chinese consumers’ preferences are changing rapidly as a result of numerous influences, including global trends, prices, and the government’s crackdown on ostentation among officials. To celebrate its 100th episode anniversary, Thoughtful China brought together China’s top marketing experts all under one roof to ask them about their predictions for the year of the horse.
The video embedded above features discussions with many China marketing professionals on topics such as the country’s changing social media landscape, Chinese companies’ international expansion, and the rise in fashionable pollution masks, just to name a few (interviews start at 1:49). Interviewees include Frederic Jouve, Kitty Lun, Bryce Whitwam, Nancy Pon, Clement Tsang, Tina Hu, Sam Flemming, Natalie Lowe, T.R. Harrington, Scott Pollack, and more.
According to Kitty Lun, chairman and CEO of Lowe China, the one word she would describe for the China market in the coming year is “authenticity.” In her opinion, “I think in 2014, people will be going back to basics.” She predicts that “real quality and real stories rather than luxury, flamboyance, and ostentatious spending” will be the main focus among Chinese consumers this year. Watch the full video to hear more predictions.