SHANGHAI — China’s luxury consumers are an increasingly complex and diverse group, according to the results from a new survey.
Media agency Carat and Jing Daily, a digital publication focused on the luxury market in China, surveyed more than 10,000 respondents between the ages of 18 and 50 and located throughout tier one and two cities in China about their spending habits and lifestyle. They published their results in a report entitled “China’s New Luxury Consumers: A Frontier Worth Planning For.”
From this survey, five key Chinese luxury consumer segments were identified.
• “The Aficionado” category: These consumers have a high knowledge of the luxury segment and are trendsetters who enjoy lifestyle activities such as golf, as well as traveling overseas, where 40 percent have bought luxury items.
• “The Epicurean,” who is led by fads and discovers trends on social media.
• “The Bling King,” who has low knowledge about luxury, but a high desire to impress his or her peers with expensive goods.
• “The Skeptic” category: This shopper places greater emphasis on quality and craftsmanship than on the inherent value of a label.
• “The Aspirant,” who is eager for knowledge and influenced by social media and key opinion leaders such as fashion bloggers.
“Although Chinese luxury consumers are often discussed as one uniform group, the results of the study show that they have highly differentiated preferences in terms of the goods they buy and the types of media they consume,” said Jing Daily editor in chief Liz Flora.
“The narrative to date about China’s luxury consumers has been around the question of whether or not they’re rejecting ‘bling,’ but the picture is in fact much more complex and nuanced. As China’s luxury consumers become increasingly individualized, a one-size-fits-all approach to reaching them will no longer be effective for brands.”