Luxury brands are just starting to figure out that the brand positioning popularized in the West aren’t what the Chinese consumer needs – or even wants. Tom Doctoroff Autor of “What Chinese Want: Culture, Communism and the Modern Chinese Consumer” of J. Walter Thompson China shares three indispensable rules to win Chinese shoppers:
“China may be touted as the third-largest market for luxury goods, and some even believe it will beat out Japan in the near future for the number two spot, but the fast-rising Chinese luxury market may need to overcome a few critical issues.” is Red Luxury in China writting in theire Blog. See the three open secrets here and get all the others on our Event in September.
Last month, at the fourth annual Prestige Brands Forum at the China Europe International Business School in Shanghai, participants discussed the difficulties China faces in branding.
“We have nothing close to Sony or Apple or Mercedes,” says Elliott Yuen, a former chief executive of the clothing brand Shanghai Tang. “We still don’t have a decent international Chinese brand.” Founded in Hong Kong in 1994 and boasting a following with its traditional designs, Shanghai Tang might be the closest thing the country currently has to a prestige clothing brand. The bigbest factor in its success has been its ability to demonstrate the value of Chinese culture in building a luxury brand.