How China’s luxury e-commerce market brings fresh, authentic shopping experiences
Driven by a tech-savvy population open to innovation, China’s luxury e-commerce market has rapidly become one of the world’s most dynamic. By 2023, the country accounted for an estimated 23% of global luxury online consumption, with projections showing it could reach 40% by 2030, overtaking Europe and the U.S. Additionally, in 2023, 53% of luxury […]
The luxury watch market in China: Status, sophistication and counterfeiting
Despite broader economic challenges and a slowdown in the overall luxury sector, luxury watches continue to hold strong appeal among affluent Chinese consumers, increasingly viewed as a smart alternative investment during times of economic uncertainty. In 2024, the luxury watch market in China was valued at approximately USD 18.12 billion, reflecting steady growth, with an […]
Quiet luxury in China: a tale of classical aesthetics and enduring quality
In China, a shift towards quiet luxury has emerged, prioritizing restraint and timeless elegance over fleeting trends. The term “quiet luxury” began circulating around 2023, strongly linked to the hit HBO show Succession, which featured character wearing outfits that were sourced from luxury brands. The quiet luxury aesthetic has since found its way into China, […]
Beyond Baijiu: Young consumers, e-commerce, and premium experiences redefining Chinese alcoholic beverage market
The Chinese alcohol market continues to lead globally, reaffirming its position as the world’s largest by market value. According to the latest report from the Chinese Alcoholic Beverage Industry Association (中国酒业协会), China’s brewing industry achieved sales revenue of RMB 1.08 trillion (approximately USD 148 billion) in 2024, reflecting a robust 9.3% year-on-year growth. Concurrently, total […]
How Gentle Monster in China attracts consumers to its offline stores in an era dominated by e-commerce
Founded as a startup in 2011 in South Korea, Gentle Monster has rapidly expanded globally, with stores in the United States, Singapore, Thailand, the United Arab Emirates, among others. Gentle Monster in China opened its first store in 2016, and as of December 2024, it has over 20 flagship stores, solidifying its position in the […]
The fashion industry in China: Chinese young consumers are becoming highly brand-conscious
China’s fashion industry is currently experiencing an era of unprecedented change and growth. In the “State of Fashion 2023” report, a joint effort by BoF and McKinsey, it was projected that the global fashion market will slow down in 2023 due to macroeconomic and geopolitical factors, including rising inflation, supply chain pressures, and political tensions. […]
Old is gold: the second-hand luxury market in China is thriving
In the dynamism of China’s consumer landscape, a significant shift has been observed in recent years: the strong emergence of the luxury second-hand market. As the personal luxury goods market surged to an all-time high of EUR 362 billion, the Chinese segment itself has a substantial share, reaching an impressive EUR 53 billion in 2023. […]
The Chinese art market: young collectors fuel contemporary art surge
The global art market is a multi-billion-dollar industry, playing a significant role in cultural exchange and economic development. While its artistic roots stretch back centuries, China’s art market has boomed in recent decades, becoming a major player on the global art scene. In recent years, the Chinese art market has witnessed a meteoric rise, solidifying […]
Targeting VICs as one of the key strategies in the Chinese Luxury Market
In 2023, the Chinese luxury market witnessed a notable rebound, propelled by its core luxury consumers who proved less susceptible to the economic slowdown reflected in the country’s GDP. Despite a marginal decline in consumer confidence, spending by Chinese luxury shoppers demonstrated robust growth, registering a remarkable 12% year-on-year increase. The domestic luxury market size […]
Omnichannel strategies in China: luxury brands’ attempts to multiply consumer touchpoints
China’s luxury market seeks steady recovery amidst challenges in 2022, which rebounded in 2023, as the market is driven by core luxury consumers who are less financially impacted by a slowing GDP. With the vigorous development of domestic luxury e-commerce, omnichannel luxury retail is making progress in China. Luxury brands are not merely adapting to […]
Reshaping the Chinese Luxury Market: Shifting Consumer Values and Transformative Retail Experiences
In 2019, McKinsey estimated China’s share of the global luxury market would grow to 41% by 2025. China’s luxury market has been mounting up for the past five years, doubling in size between 2019 and 2021. This growth was disrupted in 2022 due to the zero-Covid policy. In 2022, nearly every luxury category and most […]
From east to the runway: the irresistible ascent of Chinese designer brands
In recent years, at fashion shows and various events, many domestic and international celebrities have been seen wearing clothing from Chinese fashion brands, and an increasing number of Chinese designer brands are entering the international spotlight. At the 2023 Met Gala red carpet, Cardi B appeared in a specially tailored camellia dress designed by Chinese […]