China has reliably powered growth in the luxury business over the past few years, unfailingly supplying an ever-enlarging pool of customers, both domestic and overseas travelers.
With affluence comes sophistication and more demands from the luxury brand customer experience. China is no exception. Well-heeled Chinese overseas travelers are already among the biggest spenders. At home, their adoption of mobile payments through Alipay and WeChat is revolutionary. Abroad, luxury marketers are scrambling to offer Mandarin-speaking retail staff and Chinese payment options to make the shopping experience frictionless.
Yet there are concerns. Domestic spending on luxury may not be growing as fast as marketers expect, especially with the younger set. Trade issues with the United States may deter travel to the largest luxury market worldwide. The crackdown on government ostentation has already affected sectors such as wines and spirits, and watches. Government curbs on foreign exchange transfers could limit real estate and art purchases, as well as investment. Add to that the overall slowdown in the Chinese economy.
So what is the way forward for luxury marketers this year with China? In this free hour-long webinar on Wednesday, March 13 at 12 noon ET (New York), Luxury Institute CEO Milton Pedraza will moderate a discussion with experts Amrita Banta, Agility Research & Strategy's managing director, and Renee Hartmann, cofounder of China Luxury Advisors. The webinar will cover:
- Is the Chinese luxury customer changing, both in domestic behavior and while traveling?
- What kind of marketing will appeal for higher customer engagement?
- The evolving Chinese luxury retail landscape and what it means for bricks-and-mortar, online and mobile shopping
- Which sectors and brands are getting it right in China, why and how
- Best-practice tips for customer acquisition and retention with affluent Chinese domestic and traveling consumers
Renee Hartmann, cofounder, China Luxury Advisors
Amrita Banta, managing director, Agility Research & Strategy
Milton Pedraza, CEO, Luxury Institute
Webinar attendees can request the presentation deck.
This Luxury Roundtable webinar is part of Luxury Daily's mission to inform, educate and inspire its valued subscribers. Thank you so much for your willingness to spend a precious hour with us.