2019中国奢侈品消费者数字行为报告（英文版）_42页_4mb

Tencent X BCG Luxury Consumer Group Insight Study Summary (2019 China True-Luxury Playbook)

Core Content

This report provides a comprehensive analysis of the true-luxury consumer market in China, focusing on the digital transformation of luxury marketing. It outlines the evolving behaviors, preferences, and touchpoints of Chinese luxury consumers, emphasizing the role of digital platforms, especially the WeChat ecosystem, in shaping the luxury purchasing journey.

Main Insights

True-Luxury Consumer Profile

• Age Distribution: 48% of true-luxury consumers are aged below 30, and they contribute 42% of luxury sales.
• Geographic Distribution: Over 70% of true-luxury sales come from the top 50 cities (tier 2 or above), while the remaining 27% are spread across over 2,000 lower-tier cities.
• Segmentation: Three main segments—Absolute Luxurer, Megacitier, and Rich Upstarter—account for 46% of total sales.

Digital Behavior

• Purchase Journey: On average, 60% of the 4–5 touchpoints before final purchase are digital. For handbags, the number of digital touchpoints is as high as 6–7.
• Social Media Influence: 50% of consumers are influenced by the WeChat ecosystem, with a preference for highly curated and personalized social experiences.
• KOL Influence: KOLs significantly influence consumers under 30. Their online personalities and content are becoming more diverse and fragmented.
• Digital Media Preference: Chinese consumers favor innovative media such as idols created by ecosystems and immersive virtual characters from mobile gaming.
• ROPO Trend: 80% of luxury purchase journeys are ROPO (Research Online, Purchase Offline), which is 30% higher than the global average and 20% higher than in 2018.

Purchase Channels

• Offline Sales: Shopping malls remain the primary offline purchase channel, while brand pop-up stores help boost sales.
• Online Sales: 12% of purchases are made through pure online channels. Brand-owned e-commerce platforms (e.g., WeChat Mini Programs) are on the rise, accounting for 33% of total online sales.

Technology Ecosystems

• Digital Marketing Spend: There is a continued increase in digital marketing spend, driven by social media and e-commerce platforms.
• Social Media Marketing: Brands need to excel in four key dimensions: accurate consumer targeting, choosing the right KOLs, expanding consumer touchpoints, and optimizing content creation.

Key Observations

• Social Media Engagement: Social media is the most influential platform for discovery and research, with 60% of online touchpoints being social media-related.
• Content Optimization: Brands must create content tailored to social media, considering short attention spans and rapidly changing trends.
• Data-Driven Marketing: Integrating data across online and offline touchpoints is essential for managing consumer journeys and making informed marketing decisions.
• Omnichannel Experience: Brands should provide a personalized and consistent brand experience across all touchpoints, leveraging interactive technologies and UGC (User-Generated Content) to enhance engagement.

Case Studies

Montblanc

• Utilized oCPA (Optimized Cost Per Action) for WeChat follower recruitment, achieving a cost significantly lower than the industry average.
• Customized content and interactive experiences led to higher engagement and conversion.

Hermès

• Used WeChat Mini Programs to generate over 15,000 songs and achieve a 43-second average engagement per user.
• Retargeting strategies increased engagement rates and drove traffic to offline events.

Tiffany

• Launched limited edition pop-up stores for special occasions, such as Chinese Internet Valentine’s Day, which led to high engagement and sales.

Cartier

• Leveraged interactive methods in campaigns, achieving a CTR (Click-Through Rate) 6.0x the industry average and 3.0x its historical average.
• Interactive gesture campaigns led to 2 million+ interactions and increased traffic to the official e-commerce platform.

Louis Vuitton

• Utilized the WeChat ecosystem to create a seamless O2O (Online to Offline) event journey, with three distinct phases of engagement.
• Offline exposure was used to drive traffic to the mini-program, enhancing the overall consumer experience.

Vacheron Constantin

• Implemented a consumer journey that includes LBS (Location-Based Services) targeting, limited edition product promotion, prepayment via WeChat, and personalized CRM follow-up.
• The campaign led to a significant increase in engagement and sales, with new buyers purchasing 10+ limited-edition watches within 3 days.

Challenges in Omnichannel Marketing

• Touchpoint Differentiation: Brands must ensure that each touchpoint has a distinct role and purpose.
• Brand Consistency: Inconsistent brand image across online and offline channels can lead to decreased consumer trust and engagement.
• Data Integration: The separation between digital and offline audiences reduces the effectiveness of marketing efforts.

Recommendations

• Customized Content: Develop content tailored to different consumer segments and touchpoints.
• Data Integration: Build centralized data platforms to integrate online and offline data for better CRM.
• Agile Organization: Foster a flexible and agile company culture to support digital transformation.
• Interactive Technologies: Use immersive and interactive digital experiences to engage consumers and drive conversions.