Imagine the lifestyle of the Ultra-rich Chinese people is amazing! Imagine them stopping by Tiffany and Co. on the way to lunch to pick out that perfect piece of luxurious jewelry and then spending the afternoon with friends at the Ultraviolet by Paul Pairet. This is all followed by stopping by the Prada store to find that outfit to add to your ever-growing wardrobe, then ending the night at one of the famous Mandarin Oriental Pudong or another luxury hotel. Of course, all of this traveling happens in your beautiful Ferrari with your Hermes handbag lying on the passenger seat. Luxury clothing brands are no longer off limits when you’re in the lap of luxury!
We all daydream about living a life like this Chinese elite life full of luxurious comforts.
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Create the Luxury Digital Consumers Experience
The New Luxury Lifestyle in China
There’s a certain curiosity about rich people’ lifestyle, they appear to be the ones holding the keys of paradise. It’s incredible how they influence us and we are still wondering how good their lives really are. What’s it like to indulge any and every consumerist whim? It turned out the Chinese Elite is different their brands favored are: Patek Philippe watches, Mercedes E-Class cars, Gulfstream jets, Armani suits, Azimut Yachts, and Louis XIII brandy.
They also like to spend money on diamonds(no surprise there), wine, travel, and their children’s education. More than 50 percent of rich parents are sending their children to schools in the US and Britain. Canada is ranked third, followed by Switzerland. Chinese Elite love luxury products, imported French handbags, Italian sports cars and even more, they love to show off their bling.
More than 50 percent of the Chinese’s elite, who each have assets of more than 10 million yuan ($1.57 million), spend between one million yuan ($157,000) and three million yuan every year and own more than three cars. These cars the white BMW 7-Series, the black Audi A6 models with extended wheelbases and the Porsche Cayenne SUV throng China’s fabulous new network of motorways.
The Chinese Luxury Society
Luxury concierge clubs that deal with extravagant requests for their clients, including such things as the hiring of a private island in the Maldives and bidding for a $2-million sports car at a London auction, are quickly becoming indispensable among the Chinese elite.
British luxury club Quintessentially was founded in 2000 and serves 250,000 clients around the world, making it one of the oldest and largest luxury lifestyle management services in the world. However, 10 years ago, it had no clients on the Chinese mainland.
However, their different consuming behaviors toward digital applications will definitely lead to a group of fresh marketing strategies in the industry of China. Every detail of the plan must apply digitally.
How to create Engagement among Chinese Elite Society?
GMA collaborate with Luxury brands to create Chinese Elite consumers engagement opportunities that drive traffic, demystify Chinese elite insights and build consumer understanding of a brand’s heritage and history.
Among the Chinese Millennial luxurious shoppers, 71% of the whole is female, and over half of the respondents living outside of China top 15 big cities. Since the millennial are deeply impacted by the internet, people use 87 minutes on social media to chat on average and 75 minutes on browsing news feed, videos or listening to music on average every day.
The Chinese elite journey becomes more fragmented and complicated, to experience the offline and online delicate service and buy directly, millennial consumer journey is way more diversified. They will absorb lots of product and brand information online from several channels first, and how to trigger incentives for searching is complex. Moreover, purchasing approach is not limited to the offline store but a bunch of ways, such as social media, personal shopper, e-commerce, brand official website and so forth.
Chinese Elite Consumer Strategy Development
China, having the greatest network user coverage compared to other nation in the world, Chinese Elite consumers put their attention half in the digital world.
A change in ultra-rich Chinese consumer groups and behaviors occurred that 4 there are 6 trends are happening.
- Mobile super apps catch half of the attention of netizens.
- Influencers or KOLs is the main force to affect luxurious
- Wechat official account and mini program become the basic tool for communications to customers
- Research Online Purchase offline(ROPO) is the popular way of purchasing luxuries nowadays.
- Digital marketing covers all province of China, a chance to stimulate lower-tier cities conversion rate on luxuries purchasing.
- E-commerce takes a great proportion on online sales, but social media shopping rises abruptly.
Go Digital in China
To elaborate, China’s exclusive digital environment is different from other digital savvy countries. China builds its own network and the mobile application market is full of products from three biggest China companies. Super apps, such as Wechat, occupying over half of the time people spend on the mobile phone, compared to Facebook owns a 22 percent for US users. That is why the top 40 biggest luxury companies launching their own official account on Wechat, noted by Bain & Co. And what draws the most attention from the audience is KOLs whether Wechat and brand official account.
The Right Digital Strategy for China
GMA works closely with brands to develop successful digital strategies with maximum ROI. We oversee the rollout and monitor the execution all the way to the finish line. The important part of the GMA experience is our ease in developing innovative digital assets for clients, including Chinese websites, WeChat MiniPrograms, WeChat Games and HTML5 pages/activations.