China’s thirst for luxury brands grows ever stronger
The goal of taking pole position in the Chinese market has meant many global brands are making ever larger investments to reach their new consumer. Almost every sector has seen spectacular growth over the years but none more so than the luxury goods market.
Take whisky for instance, which sees an annual import of $140 million into China each year is becoming especially lucrative, thanks to its desirability and scarcity factor. In a country with a burgeoning cohort of middle-class consumers who are increasingly seeking to flaunt their wealth with luxury purchases, sales of whisky are on a steady upward trend.
Securing a foot hold in the Chinese market has become easier
To really take advantage of this tech-savvy and booming consumer class, it is important to make effective use of marketing strategies that will open Chinese wallets. Knowing one’s customer, no matter the language, is still a key function.
The allure of securing a firm foothold in China is becoming easier thanks in part to the myriad of social media platforms blending social with ecommerce. To get the low-down, we have compiled a list of ways to catch your target buyer in China.
1. Tap into global festivities
As China becomes increasing globalised, so does its culture. In recent years, April Fools Day (and others) have become used more often by brands to provide humour and playfulness.
There is a new Little Red Book gaining popularity in China – and no, it’s not written by a famous Chairman. Instead, it is an app which appeals directly to 18-35-year-old women, where they can discover tips, trends, and most importantly, purchase products directly on the site. With its blend of part Instagram and part e-commerce platform has produced a winning combination.
5. Position your brand with Key Opinion Leaders (KOL)
The life of an influencer quite similar to being an entrepreneur, watching costs, understanding market trends, and most importantly, knowing your customer, or in a KOLs case – the followers. With it becoming easier to be an KOL, learn how to recognise the core features of a great influencer.
The Chinese market is unique in many ways, not least because of the language. That said, the ecommerce environment is quite different. Instead of the mainstays of Amazon, Argos, and a host of other companies there are mobile apps that are dominating the Chinese consumer landscape.