The million dollar question to Luxury
- A global brand of luxury goods
- The growth of Chinese affluent consumers and high networth individuals is an exciting opportunity for many luxury businesses.
- Targeting well-heeled individuals in China requires indepth understanding of lifestyle and mindset of Chinese millionaires – what makes them tick and their aspirations
- Chinese millionaires were made up of individuals of various life stages, generations, demographic profiles and mindsets, making it challenging yet interesting to understand.
- The study needed to cover their attitude and expectations towards luxury products in general, as well as specific category of skincare products.
- A contextual methodology was applied across 4 key cities in China.
- Home visit: we gained deeper understanding of the actual living conditions and environment of respondents, which gave great insight in the lifestyle, values and attitude of Chinese millionaires.
- Luxury journey: Observing respondents’ actual behavior while shopping for luxury goods and accompanying them to luxury journey destinations enabled us to have first-hand, more realistic view of how shoppers appreciated the purchase experience.
- The outcome of the study helped our client gather insights of the affluent Chinese consumers, and identified white spaces and future opportunities in products, communications and services. This allowed our clients to develop new products customized for the Chinese market.
- Comparison among different ages, different tier cities and genders were also covered in the research.
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