Luxury consumers will only get more demanding in the future, and the key to attracting a new generation of buyers will be greater personalisation.
So you think the luxury market is challenging now? Just wait until the year 2030 when Gen Zers become the largest spending group in the world.
Jing Daily forecasts the main developments affecting the luxury fashion industry in China next year.
Perhaps the biggest takeaway from 2019 is that many luxury brands are not adapting quickly enough to the shifting market.
TikTok is the ultimate destination for quirky short-videos, which makes it an ideal platform for brands to create video content to reach a possible younger consumer base.
To navigate the Chinese market, emerging brands must speak to local consumers, build genuine brand relevance and deliver exclusive experiences.
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