lundi 19 novembre 2018

The lifestyle of the ultra-rich Chinese is incredible!

Imagine that the lifestyle of the ultra-rich Chinese is incredible! Imagine stopping at Tiffany & Co. on the way to lunch to pick the perfect luxury gem and spending the afternoon with friends in the ultraviolet Paul Pairet. All this follows a stop at the Prada store to discover that you have clothes that you can add to your ever-growing wardrobe and then end up at night in one of the Mandarin Oriental Pudong hotels or in another hotel luxury. Of course, this trip takes place in your beautiful Ferrari with a Hermes bag placed in the passenger seat. Luxury clothing brands are no longer out of reach when you're in luxury!

There is a certain curiosity about the way of life of the rich, it seems to be those who hold key havens. The way they affect us is amazing, yet we think their lives are really good. What does it look like to satisfy all the whims of consumers? The Chinese elite has been different because their favorite brands are: Patek Philippe watches, Mercedes E-Class cars, Gulfstream nozzles, Armani suits, Azimut yachts and Louis XIII brandy.

They also like to spend money on diamonds, wine, travel and education for their children. More than 50% of wealthy parents send their children to schools in the United States and Great Britain. Canada is third, followed by Switzerland. Chinese elites love luxury goods, imported French handbags, Italian sports cars and more, they love showing off their talent.
More than 50 percent of the Chinese elite, each with more than 10 million yuan ($ 1.57 million) in assets, spend between one million yuan ($ 157,000) and three million yuan a year and owns more than three cars. The cars feature the white BMW 7 Series, the long-wheelbase Audi A6 and the Porsche Cayenne SUV, which offer a unique new network of Chinese motorways.

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  2. Chinese consumers still spend big on luxury fashion and beauty brands

  3. A third of global luxury sales come from Chinese consumers between the ages of 18 and 30. The Chinese personal luxury goods market is expected to grow 6% in the next five years. There is no doubt that these consumers are changing the face of the luxury experience in China and around the world.

    Young Chinese consumers prefer unique products to exclusive items, clever to artisanal products and personalized to universal products. They are a generation that instantly expresses every part of the lifestyle on social platforms. They no longer sit down for their loyal brand to launch a product; instead, they follow a blogger whose content is more related to them to provide a review of the product before the official launch. They value luxury goods as high quality items rather than an expression of wealth. All these elements identify with the traits of Chinese millennials, or alias "Chinese Luxury Shoppers", encouraging luxury hubs to embark on the train of using social platforms to connect with them.

    The dilution of sales between online and offline channels has forced luxury brands to undergo sales and marketing transformation as they rush to find new luxury buyers. This change pushes brands to engage with millennials, to build a relationship and maintain the community to have a visible presence among the sea of ​​positions that overload social accounts.

    With luxury hubs taking advantage of social platforms to maximize their social network, let's take a look at the three unconventional approaches undertaken by brands:

    Luxury enters mass

    A locally developed app, Douyin, known as Tik Tok internationally, has captured 500 million monthly active users and 250 daily active users outperforming Instagram story functionality, and Snapchat stories with over 46% d 'Identified users were generation Y and generation Z. As these users represent more than 50,000RMB of transactions via the platform, luxury brands have started to rethink their digital marketing strategies to respond to them.

    For example, the famous Parisian label, Louis Vuitton promoted its Christmas campaign by posting short videos and linking the product URL to the brand's e-commerce page. This strategy pushed customers to widen their choice before proceeding to increase sales of the brand. On the other hand, Michael Kors has taken a different approach through the challenge of the hashtag #TheWalkShanghai. The users of the application have downloaded their version of the access ramp with personalized filters. As users created their content with branded assets, brand engagement increased and their exposure through subsequent social content increased traffic to their page.

    WeChat, the new luxury BFF

    Luxury brands on WeChat go beyond regular WeChat services to create a fun and interactive experience for Chinese luxury buyers. Consider, Sergio Rossi's WeChat Mini program to harness the trend of direct consumer luxury in China, allowing consumers to personalize their shoes. The experience of e-commerce has offered customers a unique shopping destination, offering the brand 360 ° coverage via sharing on social networks and influencing the purchasing decision.