This article looks at the growing influence Asia is having on the luxury sector. In particular a focus on the watch industry in China following the country’s rapid bounce back from Covid. At least, domestically. Why the focus on luxury? If you follow us you will know the answer. If not, read [lay] on Macduff, and damned be him who first cries ‘Hold! enough! [apologies to William Shakespeare – Tragedy of Macbeth]
Shakespeare aside, we make no apologies for oft referencing luxury in Aim2D Media. The simple fact is that the middle class in China is still growing, luxury spending is still holding and as a general rule, wherever lux goeth, mainstream is not so very far behind.
If your niche or market is not luxury in Asia then it is the bit that is that is relevant to you. It means the trends and habits of buyers and marketing strategies of lux brands can be deployed across sectors and you should look at how this may either impact your brand or be incorporated in your marketing strategies.
You may also want to rethink your idea of luxury. You may not be dealing in Aston Martins, Cartier watches or Chanel perfume but if your brand is imported, subject to extra tax and is priced at a higher level than any local competition, then, maybe in the eyes of Asian consumers, it coud be seen as luxury.
Ok, now we have cleared that up, this article, from Bloomberg, looks at how the luxury watch market is being influenced as Asians become the predominant buyers. Bloomberg has a “sort of” pay wall, so many fee articles per month, if you have reached your limit, you may need to subscribe. Our head image is courtesy of Caixin.
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Introducing Everlyne YU
In 2003 Everlyne Yu co-founded WPBeijing Marketing Studio with Englishman Peter Bic, now known as Bic Brands.
She began Uengager, as a SaaS MarTech company focused on customer engagement in 2017.
Hello, Nihao, I’m Everlyne
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If you’re looking for guidance, tips, advice on any aspect of starting or growing a business in China or training, coaching your existing China marketing team for excellence, be sure to check out Uengager. Home page and base for Everlyne Yu. Read her short bio – opposite left – or contact her direct – below – for a free, heart to heart chat.
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