Why small Chinese cities like Hohhot are the future of global luxury goods consumption

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Today from South China Morning Post. I saw an interesting topic about luxury brands. Chinese economy boom has created tons of middle classes people over the period. While most luxury shoppers are from major cities such as Beijing, Shanghai, Guangzhou, Shenzhen, 2nd tier or 3rd tier cities are chasing after.

More than half of all luxury consumers in China live outside the top 15 cities, and they are young and well educated, report finds

Well. Many of my friends from Mainland China, who come to Hong Kong for spending, are well-educated. They studied aboard in Western Countries such as UK, US, Australia. They have higher demand for the quality of living standard.

“The battle for luxury consumers will shift swiftly from offline to online, and in five years, we will enter the age of Luxury Digitisation 2.0 where online and offline [marketing and sales] will knit together closely,” BCG partner Wang Jiaqian said in a statement.

This is really a big chance from what we perceive of luxury brands in the past. Consumers are more adapted of buying luxury items online. Luxury brands even setup their online shops on e-commerce platform such as T-mall / JD.com.

Social commerce – a new form of e-commerce that incorporates social interactions among consumers via social media such as Tencent Holdings’ WeChat – is also on the rise and currently accounts for 11 per cent of all luxury online purchase.

Even for our company Unipro, we do have a wechat official account to get more exposure to Mainland Chinese clients. Well, we are not luxury brands. It works pretty well though.

Maybe if you have a company here in Hong Kong, and don’t have a China company yet. Try setting up a China company to register a wechat offical account. You can see the magic for growing your business!

Source: South China Morning Post Hong Kong

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