From putting off marriage to ‘lying flat’, Chinese young people are quietly rejecting their country’s rigid social norms, seeking out more mindful activities, and ‘do-gooding’ on behalf of society. How is their growing sense of individualism impacting how they buy luxury?
Glyn Atwal is an associate professor of marketing at Burgundy School of Business. He conducts research on brand management and is the co-author of Luxury Brands in China and India (Palgrave MacMillan, 2017.
Dr. Angela Y. Lee joined the marketing faculty at the Kellogg School in 1995 and was named Mechthild Esser Nemmers Professor of Marketing in 2007. Her publications appear in both marketing and psychology journals and she was the co-editor of Kellogg on China.
Ellie Howard is a writer and researcher. A graduate of the University of Manchester and University College London, she writes about material and visual culture. She works for LA-based publisher Atelier Éditions, while contributing to the BBC, Creative Review, British Journal of Photography, and Wallpaper* among others.
Gen Zers have entered the luxury market and show a keen interest in the value of high-quality, exclusive brands. But this generation’s demands are beyond the traditional paradigms of luxury. So, how are designer brands evolving to win the attention and loyalty of the new luxury shoppers?
To satisfy Chinese HNWIs in their search for elevated luxury experiences, brands such as La Mer, Clé de Peau Beauté, and Chaumet are offering five-star afternoon teas in partnership with high-end hotels across the country, letting customers experience their products while being pampered.
After rising to international recognition, Guochao captured the attention of global brands. But many campaigns have fallen flat due to a lack of deep understanding of the concept. Canvas8 spoke to Xiaojing Huang, a renowned design strategist and trend expert, about the nuances of Guochao.
Several luxury brands in China are opening up their VIP experiences to the wider public as COVID-19 rules and financial pressures repress spending among the middle class. But moving into the mainstream risks putting off HNWIs, who expect a certain level of exclusivity when shopping in-store.