BCG-2018全球奢侈品消费者观察（英文）-2018.5.9-41页-7mb

BCG 2018 True-Luxury Global Consumer Insight Summary

Core Content Overview

The BCG-Altagamma True-Luxury Global Consumer Insight Panel provides a comprehensive analysis of the behavior and preferences of True-Luxury Consumers, focusing on market trends, consumer insights, and sales channels. The report highlights the evolving dynamics of the luxury market, particularly emphasizing the role of digital platforms, social media, and the growing influence of Millennials and Chinese consumers.

Main Trends and Insights

1. Market Overview

• True-Luxury Consumers: 18 million consumers generate approximately 30% of the global luxury market.
• Market Polarization: The market is expected to further polarize in the coming years.
• Market Growth: By 2024, Millennials and Chinese consumers are projected to be the main drivers of market growth, with Millennials expected to account for 50% and Chinese for 40% of the market.

2. Consumer Preferences

• Luxury Casualwear: Becoming a major trend, with 73% appeal among True-Luxury Consumers, up from 66% the previous year. It is driven by "Forever Young" behaviors, comfort for older generations, and coolness for younger ones.
• Brand Loyalty: Millennials show the highest brand loyalty across categories, with 36% loyal compared to 30% overall.
• Product Values: Traditional values such as quality remain important, but new values like "extravagant & fun" are becoming key to success, especially for Chinese and Millennials.

3. Communication & Media

• Social Media Influence: Social media is now the top influence lever for True-Luxury Consumers, growing from 9th in 2013 to 1st in 2017.
• Influencers: Influencer power is rising due to perceived authenticity and unique perspectives.
• Platform Differences: In the West, Instagram is dominant, while in China, WeChat, Weibo, and QQ are the leading platforms.

4. Sales Channels

• Omnichannel: About 50% of True-Luxury Consumers use omnichannel strategies, with online-solo increasing among older consumers and store-solo showing signs of recovery.
• Online Ecosystem: Three main channels dominate the online luxury market: mono-brand websites (~33%), full-price multi-brand (~32%), and generalist marketplaces (~23%), totaling ~90% of the market.
• Mono-Brand Stores: Remain the most preferred for in-store purchases, driven by the availability of special products and enhanced in-store experiences.
• Mobile Growth: Mobile is increasingly preferred over PC for online shopping, especially among Chinese and younger consumers.

5. Geographic Insights

• China's Digital Ecosystem: Highly integrated and dominated by Tencent and Alibaba.
• Brand Preferences: Made-in Italy is still the most preferred, but Made-in France is preferred in China, Brazil, and France.
• Chinese Consumers: More omnichannel than global True-Luxury Consumers (~61% vs 48%), driven by higher ROPO (Research Online, Purchase Offline) and the lack of an attractive online solo experience due to counterfeit fears.

6. Collaborations

• Awareness: 88% of True-Luxury Consumers are aware of collaborations, with Millennials and Gen Z reaching ~94%.
• Impact on Purchase: Collaborations positively influence ~55% of consumers' willingness to buy.
• Collaboration Types: Streetwear and artist collaborations are particularly effective with younger generations.

7. Product & Branding

• Top Spending Categories: 3 casual-oriented categories (sneakers, backpacks, t-shirts) and 2 formal (formal shoes, sunglasses, perfumes) are expected to see significant changes in spending.
• Mix & Match: ~54% of Millennials partially shift from luxury brands to niche or fast fashion brands.

Key Information

• Market Growth Drivers: Millennials and Chinese consumers are the primary growth drivers.
• Online Shopping Trends: Mobile is taking over PC, and online-solo is still not fully established in China due to counterfeit concerns.
• Influencer Impact: Influencers are effective due to their authenticity and storytelling, not just follower count.
• Brand Strategy: Luxury brands should focus on collaborations and in-store experiences to engage consumers.
• Regional Preferences: Made-in Italy leads globally, but Made-in France is preferred in China and Brazil.
• Omnichannel Strategy: Essential for luxury brands, especially in China where it is more prevalent.

Conclusion

The 2018 BCG-Altagamma True-Luxury Global Consumer Insight highlights the shift towards casual luxury, the growing importance of social media and influencers, and the evolving preferences of Millennials and Chinese consumers. Luxury brands must adapt their strategies to these trends, focusing on omnichannel engagement, collaborations, and enhancing both online and in-store experiences to remain competitive.