In case you missed them the first time around, here are some of Jing Daily’s top posts for the week of October 6-10, 2014.
When top global fast fashion retailers such as Zara, Uniqlo, or H&M first opened in mainland China, a large flagship store in an area with high foot traffic in Beijing or Shanghai was considered an absolute must for entering the market. Turning this idea on its head is British competitor Topshop, which recently made waves in the industry when it announced that it its foray into the mainland would not be in brick-and-mortar form, but rather in the digital world through a partnership with luxury e-commerce site ShangPin.
Most Chinese luxury shoppers traveling abroad have done an extensive amount of research on what to purchase before they even left home, according to new data highlighting the vital importance of Chinese digital marketing for luxury brands.
According to Nielsen’s Mainland Chinese Luxury Shopper survey that polled 1,005 internet respondents from four regions, 90 percent of Chinese travelers plan their luxury goods purchases prior to travel, while 38 percent know exactly which products they will be buying. Unsurprisingly, they’re doing their research online, with 50 percent heading to luxury brands’ official sites and 49 percent to social media pages for their primary source of information.
From popular new apps to the latest smartphones, tablets, and other gadgets, Chinese consumers’ rapid adoption of new technology has given a major boost to the global tech industry. Now, one French beauty brand is hoping to reap the benefits of China’s love for the latest innovations by bringing a high-tech mentality to another booming market in the country: skincare.
Despite an ongoing slowdown in luxury growth, new data released by market research firm Euromonitor finds that China remains on track to surpass Japan as the second largest market in the world for high-end goods over the next five years.
With a growing focus on young Chinese consumers and rapidly changing digital technology, many mainstream marketing and communications efforts ignore China’s roughly 150 million senior citizens. A recent episode of Thoughtful China notes that this is a big mistake, since this group has a combined annual income of around 300-400 billion RMB. In addition, older Chinese citizens have a major influence over the spending habits of their children and grandchildren on big-ticket items such as cars, property, travel, and education.