Chinese luxury consumption continues to surge online!
The Chinese E-Commerce shopper is a highly lucrative market segment from Asia, representing business for brands all over the globe.
These are recent research findings extracted from the Agility Affluent Insights study conducted by Agility Research & Strategy in June 2014, administered online among 1500 (equally distributed) affluent respondents in 5 countries – China, Hong Kong, Singapore, Indonesia and the US.
About China’s E-Commerce Shoppers
- The majority of Chinese E-Commerce Shoppers are Gen AAA (Aspirational, Ambitious, and Affluent) shoppers aged 18-34 years. There is an approximate equal gender distribution, with 54% females and 46% males. The majority are working (96%) adults, and most respondents have children (85%).
- Chinese E-commerce shoppers are investors, with 100% having some form of investment apart from real estate, and 51% having investments worth at least US$ 300,000. The top investment is fixed deposits (figure 1).
- The Chinese E-Commerce Shopper values quality, exclusivity & uniqueness, but is also cautious (figure 2).
Key Insights from Agility Research & Strategy
- Chinese E-Commerce Shoppers are customers of both online retailers and brand websites; below are some of the most popular sites patronised over the previous year (figure 3).
- Chinese shoppers prefer to receive their product information and advertising through different channels for various types of purchases. The Top 3 Channels for each category (figure 4) are as follow.
- Chinese E-Commerce Shoppers love their globally renowned branded goods, but prefer their financial services to be all local (figure 5).
Top 3 Recommendations for Brands & Online Retailers
- Understand where your shoppers are. Brands that are not doing well in China may be interested in selling their products with the popular retail sites, or appearing on the hot branded sites via brand collaborations. An alternative may also be to buy advertising space on the preferred sites.
- Understand how to reach your shoppers. It is necessary to utilise the channels potential buyers pay attention to, a poor fit translates to lack of response and a waste of advertising dollars.
- Understand the tastes of your shoppers. Brands that do not make the list may choose to evaluate and fine tune marketing efforts based on the successes of favoured brands.
Agility Research & Strategy is Asia’s fastest growing research company, ranked globally as a Top 10 research firm in the Luxury and Premium brand research space. As Agency of the Year nominee and with over 30 years combined experience in understanding the Affluent consumer, we are truly Fluent on the Affluent™. We partner with leading brands to provide actionable insights through a suite of data, research and intelligence solutions to boost their market share.
AFFLUENTIAL ™, the World’s first Global Consumer Intelligence portal, powered by Agility is a comprehensive platform for brands looking for intelligence on Affluent consumers across categories in more than 20 key economies including the United States, Europe and Asia Pacific.
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