Posted On 2016/02/24 By In Business, News, Research, Internet, Media, Mobile, Social Media With 815 Views

Luxury Buyers in China depend on Digital

The internet is the leading source of information for buyers in China to learn about luxury goods, according to 2015 research.

Nearly eight in 10 luxury goods buyers in China used the internet and mobile apps to research luxury items between 2014 and 2015, Bain & Co. reported. That was more than double the share who used the second-most-common information source, magazines (31%). In third place, 29% of buyers learned about luxury goods from their friends.

Within the realm of digital, official websites were the top source of luxury goods information: 60% of all luxury goods buyers in China learned about products there in 2015. This was down 10 points since the prior year, but still held a strong lead over news websites, where 37% of buyers learned about luxury.

Usage of Weibo to learn about luxury goods was one channel that was up in 2015: 31% of luxury goods buyers did this last year, up from 22%. Apps were also more popular, rising from 24% to 30%.

Luxury goods spending in China is growing fastest for womenswear, jewelry and cosmetics, according to the research. The most popular luxury items or experiences to purchase in 2015 were hotel or resort stays (58%), followed by trips to the spa (37%).

Among all digital buyers in China surveyed by McKinsey & Co. in September 2015, 31% said they planned to increase their spending on luxury goods in the next six months, at least by a little bit. While 62% planned no changes in their luxury spending, only 8% thought they would spend less.


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Sources:

Article: eMarketer

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About

Stefan

Stefan (from Austria, Europe) has been living, studying and working in China since 2010. Stefan has worked on several research, publication and consulting projects focusing on the China Travel Market. He holds three Masters degrees and is an expert on China Outbound Tourism, Marketing and Social Media in China. Stefan works with BMG on the Global Ready China Seminars as well as the Global Ready China News and related projects. He also has teaching engagements in the areas of eMarketing and Tourism Strategy.

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