2018全球奢侈品消费者洞察（英文版）_41页-7mb

BCG 2018 True-Luxury Global Consumer Insight Summary

Core Content

The BCG-Altagamma True-Luxury Global Consumer Insight report provides an in-depth analysis of the behavior, preferences, and trends among True-Luxury Consumers, focusing on the global luxury market and its evolution from 2013 to 2018. It highlights the increasing importance of digital channels, the role of social media and influencers, and the shift toward casual luxury, especially among younger generations. The report also emphasizes the significance of China in the luxury market, with its unique digital ecosystem and growing consumer influence.

Key Findings

Market Overview

• True-Luxury Consumers: 18 million consumers generate approximately 30% of the global luxury market, and this segment is expected to further polarize in the coming years.
• Market Growth: Millennials and Chinese consumers are expected to drive significant growth, with 130% and 70% of the market growth respectively by 2024.
• Top Luxury Markets: The top 10 luxury markets globally include the US, China, and several European countries.

Consumer Insights

• Lifestyle Trends:
  • Luxury Casualwear: This trend is growing, with 73% appeal among True-Luxury Consumers, up from 66% the previous year. It is driven by the "forever young" behavior and the need for comfort.
  • Product Values: Traditional values like quality remain important, but new values such as "extravagant & fun" are gaining traction, especially among Millennials and Chinese consumers.
  • Collaborations: 88% of True-Luxury Consumers are aware of collaborations, with Generation Z and Millennials reaching ~94%. Collaborations with streetwear and artists have a positive impact on younger consumers.
  • Brand Loyalty: Millennials show the highest brand loyalty, with 36% loyal vs. 30% overall.
  • Mix & Match: ~54% of Millennials shift from luxury brands to niche or fast fashion, mixing styles and buying from multiple sources.

Communication & Media

• Social Media: Social media is now the top influence lever for True-Luxury Consumers, with a 29pp increase from 2013. In China, WeChat, Weibo, and QQ are dominant, while in the West, Instagram is rising.
• Influencers: Influencers are gaining power due to perceived authenticity and unique storytelling. They are especially influential among Millennials and Generation Z.

Sales Channels

• Omnichannel: Omnichannel shopping is becoming more prevalent, with ~50% of True-Luxury Consumers using it. Online-solo is growing, particularly among older consumers, while store-solo is showing signs of recovery.
• Online Ecosystem:
  • Mono-brand Websites (e.g., Brand.com): Preferred in mature markets and by older generations.
  • Full-price Multi-brand (e.g., NAP, Farfetch): Preferred by Millennials.
  • Generalist Marketplaces (e.g., T-mall, Alibaba): Strong in China.
• In-store Experience: Consumers value in-store experiences, including special products, unique events, and personal relationships with sales associates.

Regional Insights

• China:
  • Digital Ecosystem: Highly integrated, dominated by Tencent and Alibaba.
  • Social Media Use: Increasing interaction with luxury brands via social media.
  • ROPO Effect: Higher than the global average due to online struggles and counterfeit fears.
  • Brand Satisfaction: Some brands are performing better than others, with a satisfaction index based on the percentage of consumers who will increase spending minus those who will reduce it.

Made-in Preferences

• Made-in Italy: Still considered the best for luxury products, especially in apparel, handbags, and shoes.
• Made-in France: Preferred in China, Brazil, and France.
• Other Preferences: There is a shift in preference across categories, with some categories showing positive and negative differences.

Summary of Top 5 Trends

1. Luxury Casualwear: Gaining popularity, especially among the "Forever Young" generation.
2. Collaborations: Enhance brand awareness and willingness to buy, particularly among younger consumers.
3. Social Media: Becomes the primary influence lever, with a growing role in China.
4. Omnichannel Shopping: Increasingly important, with variations in channel preference across generations and regions.
5. Brand Loyalty: Millennials are the most loyal generation, with a strong preference for niche and casual styles.

Key Statistics

• Average Spend: ~€37,000 per True-Luxury Consumer.
• Market Share:
  • Millennials: ~50% of the market by 2024.
  • Chinese Consumers: ~40% of the market by 2024.
• Channel Preferences:
  • Mono-brand stores: Still the most preferred.
  • Online solo: Gaining traction, especially with older consumers.
  • Generalist marketplaces: Strong in China.
• Influencer Impact: Influencers are increasingly important, especially in shaping brand perception and purchase behavior.

Conclusion

The report underscores the dynamic nature of the luxury market, emphasizing the growing influence of Millennials and Chinese consumers, the shift toward casual luxury, and the increasing role of digital platforms and social media in consumer engagement. It also highlights the importance of in-store experiences and the need for luxury brands to adapt to the evolving preferences and behaviors of True-Luxury Consumers.