波士顿-2019中国奢侈品消费者数字行为报告（英文）-2019.6-42页_4mb

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

Core Content

This report presents insights from a joint study by BCG and Tencent on the true-luxury consumer market in China. It highlights the evolving landscape of luxury marketing, driven by digital transformation and the influence of social media.

Key Insights

True-Luxury Consumer Profile

• Age Distribution: 48% of true-luxury consumers are aged below 30, contributing 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 dispersed across over 2,200 lower-tier cities.
• Segments: 3 main segments—Absolute Luxurer, Megacitier, and Rich Upstarter—account for 46% of sales.
• Purchase Behavior: 80% of luxury purchase journeys are ROPO (Research Online, Purchase Offline), significantly higher than the global average of 60%.

Digital Behavior

• Touchpoints: On average, consumers interact with 4-5 touchpoints before making a purchase, with ~60% being digital.
• Handbags & Shoes: These categories have the highest number of digital touchpoints (6-7), indicating a highly digitalized discovery and research process.
• Social Media Influence: 50% of consumers are influenced by the WeChat ecosystem, with KOLs playing a crucial role, especially among younger consumers.

Content Preferences

• Innovative Media: Consumers prefer more innovative media formats, including idols created by the ecosystem and immersive virtual characters from mobile gaming.
• Fragmentation: Social media content is increasingly fragmented, with diverse KOLs and content themes.

Main Trends

E-commerce and Digital Marketing

• Online Sales: 12% of purchases are made through pure online channels, with brand-owned e-commerce (e.g., WeChat Mini Programs) on the rise.
• Digital Marketing Spend: Continued increase in digital marketing spend, especially on social media and e-commerce platforms.
• ROPO Growth: ROPO is growing faster than the global average, with 30% of the increase attributed to digital touchpoints.

Technology Ecosystems

• WeChat Dominance: WeChat is the most used social platform for luxury discovery and research, followed by Weibo and RED.
• Interactive Technologies: Brands are leveraging VR/AR, smart fitting, and interactive screens to enhance the offline experience.
• Data-Driven Marketing: Integration of business data across online and offline touchpoints is crucial for effective marketing strategies.

Brand Strategies and Case Studies

Montblanc

• oCPA Usage: Utilized oCPA to improve WeChat followers recruitment efficiency, with a significantly lower cost than the industry average.
• Content Optimization: Customized content and leveraged data to adjust marketing strategies in real-time.

Hermes

• Pop-up Store Success: Used a combination of online and offline touchpoints, including WeChat Mini Programs and pop-up stores, to drive sales.
• Engagement Metrics: Achieved high engagement rates with online content, leading to increased offline store visits and sales.

Cartier

• Interactive Campaigns: Launched campaigns with interactive elements that significantly increased CTR and engagement.
• Limited Edition Sales: Achieved high sales with limited-edition products, with a notable increase in comment and like rates.

Louis Vuitton

• O2O Events: Successfully used the WeChat ecosystem to facilitate a seamless O2O experience, including LBS targeting, limited edition exposure, and brand CRM integration.

Vacheron Constantin

• Digital Transformation: Implemented a multi-step consumer journey using digital tools, leading to high engagement and sales conversion.
• New Buyer Focus: Launched 38 limited-edition watches, all sold by new buyers within 3 days.

Challenges and Recommendations

Omnichannel Marketing

• Differentiated Roles: Each touchpoint should have a distinct role to avoid consumer confusion.
• Brand Image Consistency: Ensuring brand image consistency across online and offline channels is critical for maintaining consumer trust.
• Integration of Data and Teams: Integration of data sources and cross-functional teams is necessary to create a cohesive marketing strategy.

Recommendations

• Customized Content: Tailor content to different consumer segments and use personalized approaches.
• Interactive Communication: Develop interactive communication strategies that leverage digital platforms.
• Agile Organization: Reshape organizational structure and workflows to support digital transformation.
• Advanced IT Tools: Invest in IT infrastructure and tools to enhance customer experience and operational efficiency.

Conclusion

The true-luxury market in China is highly digitalized, with a significant portion of consumers influenced by social media and KOLs. Brands must adapt to this landscape by integrating data, personalizing content, and leveraging technology to create seamless omnichannel experiences. The report emphasizes the need for a flexible and data-driven approach to effectively engage with this dynamic consumer base.