2018全球奢侈品消费者洞察（英文版）_39页_7mb

BCG 2018 True-Luxury Global Consumer Insight Summary

Core Content

The 2018 True-Luxury Global Consumer Insight report by BCG highlights the evolving behaviors and preferences of True-Luxury Consumers (TLCs), a segment of high-spending luxury buyers. The report emphasizes the increasing influence of Millennials and Chinese consumers, the rise of casual luxury, and the transformation of sales channels and communication strategies in the luxury market.

Main Trends

1. Market Overview

• True-Luxury Consumers generate approximately 30% of the global luxury market.
• By 2024, Millennials are expected to make up 50% of the market, driving 130% of growth.
• Chinese consumers are projected to account for 40% of the market by 2024, contributing 70% of growth.

2. Luxury Casualwear

• Luxury casualwear is on the rise, with 73% appeal, up 7pp YoY.
• It is seen as a "new normal" due to the saturation of formalwear and the desire for comfort among older consumers, and coolness among younger generations.
• The "Forever Young" generation is particularly drawn to casual luxury.

3. Consumer Loyalty

• Millennials show the highest brand loyalty across categories, with 36% loyal vs. 30% overall.
• Despite shifting to niche or fast fashion brands, Millennials remain the most loyal generation.

4. Social Media Influence

• Social media is now the 1st most influential lever for reaching TLCs, up from 9th in 2013.
• Influencers are gaining power due to perceived authenticity and storytelling.
• In the West, Instagram is leading, while in China, WeChat, Weibo, and QQ are dominant.

5. Sales Channels

• Omnichannel is the dominant purchasing behavior, with ~50% of TLCs using it.
• Online-solo is growing, especially among older consumers, while store-solo is recovering.
• The luxury online ecosystem is dominated by mono-brand websites (~33%), full-price multi-brand (~32%), and generalist marketplaces (~23%), totaling ~90% of last purchases.
• Mono-brand stores are preferred for personalized experiences, exclusive products, and intimate environments.

6. Collaborations

• 88% of TLCs are aware of collaborations.
• ~94% of Millennials and Gen Z are aware.
• Collaborations with streetwear and artists have a positive impact on younger consumers but no effect on older ones.
• Collaborations can increase willingness to buy for ~55% of TLCs.

Key Insights

1. Consumer Behavior

• TLCs are increasingly mixing and matching styles, with ~54% of Millennials shifting from luxury brands to niche or fast fashion.
• Social media is a key driver of consumer engagement and brand interaction.
• Online research and offline purchase (ROPO) is a common pattern, especially in China.

2. Brand Strategy

• Collaborations are crucial for attracting younger consumers and enhancing brand appeal.
• Influencer marketing is not just about follower count but about authenticity and storytelling.
• Brand websites and social media are the most trusted sources of information for luxury purchases.

3. Geographic Focus

• Made-in Italy is still the most preferred manufacturing origin globally.
• In China, Made-in France is preferred over other regions.
• The Chinese digital ecosystem is highly integrated and dominated by Tencent and Alibaba.

4. Technology & Platform Impact

• Tencent's WeChat plays a significant role in influencing consumers through moments ads, customized experiences, and fan engagement.
• Influencer-led content is becoming a major channel for brand promotion.

Conclusion

The True-Luxury market is expected to polarize further, with Millennials and Chinese consumers leading the growth. Brands must adapt to casual luxury trends, digital engagement, and omnichannel strategies to meet the evolving preferences of this segment. Collaborations, influencer marketing, and enhanced in-store experiences are key to maintaining relevance and driving sales in the luxury sector.