Chinese consumers buy more luxury products than consumers in any other country, accounting for one-third of total sales. There has been a shift in the consumers’ behaviors who now purchase more luxury goods in China as a result of the ‘harmonised’ prices from brands who used to charge premiums in China and the reduction in duties on some luxury goods when imported from official channels.
According to the Chinese Academy of Social Science and Tencent Research Institute, 73% of the post-80s and post-90s generations use media apps such as WeChat every 15 minutes. Millennials consume information through a single channel, for brands looking to enter the Chinese market, influencers are a key way to attract consumers.
In this event, we will hear from experts about the Luxury Goods Market. Deloitte will share with us the key trends that shape the luxury market that their Global Powers of Luxury Goods 2017 report examines. Sabine Ichikawa, Director of the Luxury Innovation Institute at ESSCA School of Management will take us through the innovation strategies for luxury brands in China and Elle Magazine will share with us how can luxury brands appeal to the Chinese Millennial Consumers.
Agenda
08.30 – 09.00 Registration
09.00 – 09.05 Welcome remarks
09.05 – 09.35 Key Trends shaping the Luxury Market by Annie Sun, Associate Director, Deloitte and
Randy Jagt, Consumer Business and Retail lead Strategy Partner, Deloitte
09.35 – 10.05 Think Global, Talk Local: Innovation Strategies in the Luxury Goods Sector by Sabine Ichikawa,
Director of the Luxury and Innovation Institute, ESSCA School of Management
10.05 – 10.35 Tapping into Chinese’s Millennials Goldmine by Hugues de Vautibault, Deputy General Manager of
Advertising, Hearst Media China
10.35 – 11.00 Panel Discussion & Q&A: The Potential of China's Luxury Market
- Annie Sun, Associate Director at Deloitte and Randy Jagt, Consumer Business and Retail
lead Strategy Partner, Deloitte
- Sabine Ichikawa, Director of the Luxury and Innovation Institute, ESSCA School of
Management
- Hugues de Vautibault, Deputy General Manager of Advertising, Hearst Media China
11.00 – 11.05 Closing Remarks
*Please note the views expressed in this event are those of our guest speakers and do not necessarily reflect the views of the European Chamber of Commerce in China.
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