Chinese buyers prefer Chanel and Hermes to Burberry and BV packages.

Posted by alice on November 13th, 2018

As the spending power of the rich is also increasing year by year, China's most popular luxury brands are also rising.

A recent survey by the Royal Bank of Canada (RBCEurope) found that Chanel (about 20% of respondents said they want to buy) and Gucci (about 16%) became the most popular brand-name package for luxury consumers in 2018. Next to these two brands are Hermès (12%), Prada (9%), LouisVuitton (8%), and Dior (8%). If you don't consider the budget limit, the respondents said that Hermès is the brand they most want to own. Chinese consumers respect the world-class craftsmanship of the French traditional brand.

Compared to previously popular brands, Armani, Burberry, and BottegaVeneta are gradually losing favor among Chinese consumers. Compared to last year, the appeal of these brands has dropped significantly.

The Royal Bank of Canada's report to investors on April 17 was based on a survey of 643 Chinese affluent consumers from March 26 to 29, who have purchased at least one luxury in the past 12 months. Product. The average annual income of these respondents exceeded RMB 200,000 (about US,852), of which 62% were millennials (between 18 and 34).

An obvious conclusion from the report is that in 2018, well-known brands that have already led the market will become more dominant, but this is counterintuitive, especially considering the current trend - young consumers in China are gradually Openly explore many niche fashion brands.

Among them, the report also shows that clothing, shoes and beauty are the three types of goods that Chinese consumers like to buy online.

In terms of the variety of luxury shoes, LouisVuitton (20%) and Gucci (19%) lead; Prada (13%), Dior (10%), Balenciaga (8%) are closely behind. But consumers have shown less interest in professional luxury shoe manufacturers such as Christian Louboutin, Jimmy Choo, Roger Vivier and Manolo Blahnik. Italian footwear brand Salvatore Ferragamo has been labeled "faced to pressure" this year. However, not long ago, this brand was one of the "most popular top five shoes" for Chinese consumers.

The report also pointed out that fashion casualwear and sports trends in China's millennials are how to promote the popularity of sports shoes. Almost all luxury brands have their own designed sports shoes.

In contrast, the competition between high-end jewellery brands is less intense. Tiffany (26%) and Cartier (26%) led the market, followed by Bvlgari (15%), Piage (3%), Graff (2%) and Buccellatti (1%), which are increasingly being consumed by Chinese luxury goods. Those who patronize. In terms of watches, Rolex (20%), Longines (13%) and Omega (12%) are the three most popular brands.

Like it? Share it!


About the Author

Joined: October 28th, 2018
Articles Posted: 36

More by this author