The China Daily reviews Tom Doctoroff’s latest book “What Chinese Want: Culture, Communism and China’s Modern Consumer” and what is really takes to sell to the Chinese consumers. “The Chinese world view, not to mention its brandscape, differs profoundly from other markets,” he writes.
Category Archives: luxury
Chinese new year is nearing fast, a traditional gift-giving season. Most of those luxury gifts from China’s rich are foreign, European to be precise, says a study done by Hurun, the research company founded by Rupert Hoogewerf, reports the China Daily. Only Chinese liquor moutai makes it into the top-10.
The purchase of world’s largest yacht-maker Ferretti Group to a Chinese bulldozer maker Shandong Heavy might be taken a another sign of China’s drive to go global, China’s rich still have to discover the excitement of of yachting, tells Hurun founder Rupert Hoogewerf in Bloomberg. China is not a natural home market.
Income inequality in the USA is larger than in China and Iran, says a report from the CIA, even though China has a huge income divide too. But one part it has done better than the USA: it taxed the rich, where the money is, not the poor, says business analyst Shaun Rein in Forbes.
The Europeans, especially the Belgians and the Swiss, bring China the ideal gift for the wealthy: chocolate. Shanghai’s World Chocolate Wonderland showcases. Fine chocolate is high on the agenda of affluent shoppers, tells business analyst Shaun Rein in the Financial Times.
Spending on luxury products moves in China to the third-tier cities, notes business analyst Shaun Rein in an interview with AFP. Unlike the rich from Shanghai and Beijing, inhabitants of third-tier cities can travel less internationally.
Being popular in China seems attractive to many luxury products, but – argues retail analyst Shain Rein in CNBC – Louis Vuitton is becoming so popular, it might wipe away its attraction as a luxury asset. What should Louis Vuitton do?
Audi has lost 25% market share over two years time, as consumers prefer sexier cars like Mercedes and BMW, tells business analyst Shaun Rein in Bloomberg. Audi’s asset as a government car has now become a liability.
Researcher Tricia Wang sends us through her websitea telling advertisement from Guangzhou depicting the new global consumer: a Chinese couple, served by a while male. “The entire global economy right now depends on the Chinese elite and middle-class to spend.”
Helen Wang, the author of the leading book, The Chinese Dream: The Rise of the World’s Largest Middle Class and What It Means to You, will be visiting London early December on the invitation of Lord Wei. She will also visit Paris and other parts of Europe and is available for speeches.