It seems not even an anti-graft campaign can stop the wealthy Chinese from conspicuously consuming luxury goods. But in Nanjing, one of the busiest commercial districts in China, the luxury alleys were almost empty. If anything, the government’s anti-extravagance drive has encouraged VIPs to shop online to fulfill their passion for pricey cars, fashion, and beauty products—the major players in the Chinese luxury market.
According to Digital Luxury Group’s The World Luxury Index™ China – 2nd Edition, Chanel is the most sought-after brand in fashion, overtaking Louis Vuitton due to the increasing demand for product segments. Audi and BMW maintain their top positions in the car category while Estée Lauder, Lancôme, and Dior edge out the rest of beauty products. The complete list of the top luxury brands in China is found here.
So, what exactly makes these top luxury brands sell? In this Jing Daily article, the four vital characteristics shared by the top brands in China are:
1.) Patience to endure market shifts, a trait espoused by menswear brand Ermenegildo Zegna
2.) Great history and heritage which form the foundations of brands, as iconized by Coco Chanel, Enzo Ferrari, and Mario Prada
3.) Effective communication skill sets for relaying the brands’ key assets to consumers
4.) Knowledge of when and where to add changes in the product line.
Overall, successful luxury brands in China knew that Chinese consumers are not a monolithic consumer base mindlessly absorbing marketing ideas. Diversity matters a lot for Chinese luxury consumers.