2019中国奢侈品消费者数字行为报告_42页_4mb

Summary of Tencent x BCG Luxury Consumer Group Insight Study (2019)

Core Content

This report provides insights into the true-luxury consumer market in China, focusing on digital behavior, purchase pathways, and the role of technology ecosystems in reshaping luxury marketing. It also highlights the strategies adopted by luxury brands to engage consumers through various digital channels and the importance of omnichannel integration.

Main Insights

True-Luxury Consumer Profile

• Age Distribution: 48% of true-luxury consumers are under 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), with the rest dispersed across over 2,200 lower-tier cities.
• Segmentation: Three major segments—Absolute Luxurer, Megacitier, and Rich Upstarter—account for 46% of sales.

Digital Behavior and Purchase Pathways

• Digital Touchpoints: On average, 60% of the 4–5 touchpoints before a final purchase are digital. For handbags, the number of digital touchpoints can reach 6–7.
• ROPO Trend: 80% of luxury purchase journeys are ROPO (Research Online, Purchase Offline), significantly higher than the global average (60%).
• Offline Store Enhancements: 50% of consumers expect better digital experiences in offline stores, such as smart fitting, VR/AR, and interactive screens.

Social Media Influence

• Social Media Penetration: 50% of consumers are influenced by the WeChat ecosystem. KOLs (Key Opinion Leaders) are particularly influential among younger consumers (under 30).
• Content Preferences: Consumers prefer personalized, curated social experiences. Innovative media such as virtual characters and interactive content are gaining popularity.

Key Observations

Marketing Spend Trends

• Digital Marketing Growth: Digital marketing spend is increasing, driven by social media and e-commerce platforms.
• Traditional Shift: Traditional marketing spend is shifting towards digital, with minimal investment in search engines or other digital media.

Data-Driven Marketing

• Integration of Data: Brands should integrate business data across online and offline touchpoints for a holistic view of the consumer journey.
• Real-Time Monitoring: A/B testing and real-time monitoring of marketing activities help optimize spend and improve efficiency.

Brand Strategies

• Customized Content: Brands need to tailor content to different consumer segments and platforms.
• Interactive Communication: Utilizing interactive methods and UGC (User-Generated Content) enhances engagement and brand resonance.
• Omnichannel Experience: Personalized and consistent brand experience across all touchpoints is essential.

Case Studies

Montblanc

• Utilized oCPA (Optimized Cost Per Action) for WeChat followers recruitment, achieving a cost much lower than the industry average.
• Customized content and engagement strategies led to higher conversion rates.

Hermes

• Launched a limited edition product through WeChat Mini Programs, generating significant engagement and sales.
• The campaign reached 15,000+ songs and had a high like rate and engagement rate.

Tiffany

• Leveraged pop-up stores for limited edition products, effectively driving business growth.
• The event was promoted through online channels, with 60% of attendees coming from digital sources.

Cartier

• Used interactive methods to enhance the impact of big day campaigns, achieving a CTR 6.0x the industry average and 3.0x its historical average.
• The campaign utilized a canvas page to convey brand spirit and interactive gestures to engage consumers.

Louis Vuitton

• Utilized the WeChat ecosystem to create a seamless O2O (Online to Offline) experience.
• The campaign had three distinct phases: social buzz through fans economy, brand spirit through travel/city culture, and emotional resonance through celebrity interpretation.

Vacheron Constantin

• Implemented an O2O strategy that shortened the journey from interest to purchase.
• The campaign included LBS targeting, limited edition promotions in WeChat, prepayment, CRM integration, and personalized service.

Challenges and Opportunities

Challenges

• Differentiated Roles: Each touchpoint needs a distinct role to avoid inefficiencies.
• Consistency: Maintaining a consistent brand image across online and offline channels is crucial.
• Integration: Isolation of digital and offline data reduces marketing efficiency.

Opportunities

• Personalized Social Networking: Brands should focus on creating more personalized and immersive social experiences.
• Innovative Media: Utilizing virtual characters, interactive content, and UGC can enhance engagement.
• Omnichannel Strategies: Developing a holistic, personalized brand experience across all touchpoints can improve customer satisfaction and loyalty.

Conclusion

The true-luxury market in China is highly digitalized, with a significant portion of purchase journeys being ROPO. Social media, particularly the WeChat ecosystem, plays a central role in consumer discovery and research. Brands must leverage data-driven strategies, integrate online and offline touchpoints, and create immersive, personalized experiences to succeed in this evolving market.