In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of August 25-29, 2014.
Chinese luxury consumers’ growing sophistication—including a move away from logos and increasing interest in niche brands—is still concentrated in the country’s first-tier cities, according to a new info graphic by Shanghai-based consultancy SmithStreet. The graphic outlines four main categories that Chinese cities fall under when it comes to luxury: while ultra-fashionable Shanghai consumers have a growing interest in niche labels like Balenciaga, “developing” market Harbin and “entry-level” Xi’an still gravitate toward the likes of Coach and Louis Vuitton.
Why Social E-Commerce Is A Game Changer For Niche Brands In China
On this week’s episode of Thoughtful China, Viveca Chan, the chairman and CEO of WE Marketing Group, explains how social media and e-commerce can dramatically change the marketing landscape for small, niche brands in China. “There can be brands that are not so successful offline because they don’t have the budget to advertise and they’re not really big brands, etc.—but they can be very successful in e-commerce if they can find a specific niche, capture that market, and be very focused,” she says. “E-commerce opens opportunities for a lot of very small, entry brands.”
The sensationalist drug arrests of Jackie Chan’s son and famous actor Ko Chen-Tung in Beijing earlier this month have scared top global brands away from lucrative endorsement deals in China and may cause companies to rethink their celebrity brand ambassador strategies, according to Chinese media.
China’s luxury market may be in slowdown mode, but companies which adjust to rapidly changing consumer habits and attitudes still stand to win big, according to Chinese flash sales site Glamour Sales co-founder Thibault Villet in a recent Bloomberg interview.
As global auction giant Christie’s solidifies its mainland China presence in order to reach a vitally important and growing Chinese collector base, the auction house is set to mark the grand opening of its new Shanghai headquarters with a special year of the horse exhibition.