麥肯錫：中國奢侈品消費者（英文版）(8頁).pdf

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1、Chinese consumers are now the engine of worldwide growth in luxury spending. The fast- expanding bulge of affluent citizens combined with a small but very wealthy coterie means theres much more income to spend on luxury goods and servicesfrom fashion, jewelry, and prestige cosmetics to artwork and h

2、igh- end travel. If youre in luxury goods and services, China is the story. The Chinese luxury consumer A 3-part guide to the new luxury landscape clickclick1/Getty Images August 2019 2McKinsey Quarterly 2019 Number 3 China leads the world in luxury Its a burgeoning market and maybe the deepest pool

3、 of spending on high-end products the world has ever witnessed. Understanding the new dynamics is important for luxury brands, of course, but all companies will benefit from insights into the purchasing power and aspirations of these new, mostly younger consumers. The explosion Chinas luxury spendin

4、g will nearly double between now and 2025. Propelling this growth (nearly three- quarters of all new spending globally) is an explosion in upper-middle-class households, which continue to purchase in luxury categories even as growth in Chinas economy has eased. The majority of these consumersabout 7

5、0 percent, in factwill be doing their luxury spending overseas, a result of an increasing affinity for outbound travel. Over time, that ratio may shift in favor of domestic spending as a result of moves to cut luxury import taxes. Beauty is booming “Our sales in China are really growing, up more tha

6、n 30 percent this year, and China is our number-two market now, bigger even than the US. Also, Chinese consumers are traveling. More than 130 million people went out of China in 2017, and ten million of them came to Japan. Chinese consumers love to buy cosmetics and visit travel retail businesses, a

7、s well as duty-free shops at airports; they do a lot of shopping.” Masahiko Uotani, CEO of Shiseido For the full interview with Masahiko Uotani, see “How a cosmetics giant reaches Chinese consumers: An interview with Shiseido CEO Masahiko Uotani,” on McK. Photo courtesy of Shiseido Chinese consumers

8、 spending on luxury goods will continue to grow. Billion renminbi 40% 1.6x of global market in 2025 2,406 3,117 20182025 770 1,227 1,636 1,890 2 3 Generational differences Affluent travelers “Ctrip serves the most affluent segment in China. The most expensive tour weve sold costs about $200,000 per

9、person per trip, and it only took us about 17 seconds to sell these packages. That gives you an idea of how exclusive consumers can go when it comes to choosing their package. We see an uptick in demand for tailor-made tours.” Jane Sun, CEO of Ctrip On this bustling terrain, companies will find yout

10、hful spenders with a keen desire to be different, the newly affluent with deep pockets, and the truly wealthy. A luxury vanguard Chinas affluent post-1980s generation is fueling luxury buying right now. They grew up as China emerged as an economic power and are now at the peak of their career and ea

11、rnings, travel frequently, and spend to demonstrate their individualism and success. The post-1990s millennials are the emerging powerhouse. The vanguard of Chinas urban middle- class spenders, theyre a dynamic and digitally engrossed cohort. For the full interview with Jane Sun, see “How Chinas lar

12、gest online travel agency connects the world: An interview with Ctrip CEO Jane Sun,” on McK. Q3 2019 The Chinese luxury consumer Exhibit 2 of 7 Chinas post-1980s generation currently leads in luxury spending. Average annual per capita spending, thousand renminbi Post-90s generation Post-80s generati

13、on Post-6570s generation 170415 185 254126 Total luxury spending, 2018, billion renminbi Giulio Di Sturco/Stringer/Getty Images 4McKinsey Quarterly 2019 Number 3 Newcomers and status seekers Across Chinas post-1980s and post-1990s generations, there are four distinct clusters of buyers. Luxury newco

14、mers care most about brands, while status surfers are the least brand loyal. Together they account for 70 percent of the young luxury market. Luxury connoisseurs, with more sophistication and higher aspirations, often are business owners with higher incomes or substantial family money. Fearless youn

15、g spenders shop for whats trendy rather than branded products. The connoisseur “Its interesting: even with an internet- entrepreneur background, people still come into Christies looking to buy a vase, perhaps from the Qing Dynasty. They could be buying a Chinese painting by Zhang Daqian or a paintin

16、g by a contemporary artist like Zao Wou-Ki. But I would say the majority, if theyre trying an auction house for the first time, tend to look for art from their own country, with which they can associate emotionally, feel they understand, and can enjoy day to day.” Rebecca Wei, chairman of Christies

17、Asia For the full interview with Rebecca Wei, see “Navigating Asias booming art market: An interview with Rebecca Wei, chairman of Christies Asia,” on McK. Across two generations, four distinct clusters of consumers emerge. Post-80s and post-90s luxury shoppers in China Luxury newcomers 35 13 33 56

18、17 15 14 17 Luxury connoisseurs Fearless young spenders % of luxury-buying population % of luxury spending Status surfers 4 South China Morning Post/Getty Images 4 5 Action plan Knowing how Chinas luxury consumers think and how they connect with products is useful for any business competing in China

19、. We offer some priorities for action. First off, companies need to think outside the brand box. Brands matter in informing tastes across generations. Young consumers, while still brand conscious, arent loyal to brands in the same way that older cohorts were. Theyre more willing to venture beyond th

20、em for new luxury experiences and tend to churn through them more quickly than older, more loyal consumers do. Invest beyond the brand Younger Chinese consumers are less loyal. Share of respondents who occasionally buy luxury goods outside of preferred brands 52% of post-90s generation 30% of post-8

21、0s generation Bloomberg/Getty Images 6 Younger Chinese luxury consumers are learning to appreciate more nuanced elements, not just brand itself. Share of respondents who consider fabric, design, or production among their top reasons to purchase 25% Post-80s and post-90s generations vs 5% Post-6570s

22、generations Social influencers create greater luxury discernment among younger buyers. They are more likely to appreciate product nuances, and theyre drawn to brandproduct combina- tions, such as bags from one designer and dresses from another. Luxury companies need the right mix of incentives to ge

23、t young consumers to try a new brand. And theres a premium on renewed and refreshed product lines and marketing that creates an aura of novelty. BJI/Blue Jean Images/Getty Images 7 Target the influencers Second, luxury companies should earn the digital attention they need by influencing the influenc

24、ers. After all, media is everything and social media is everywhere. Digitally savvy younger consumers are better able to navigate across channels to get a better deal and use digital media for intensive research before buying. They are heavily influenced by opinion leaders, often global or Chinese c

25、elebrities, who talk about and display their purchases on social media. They want per- sonalized digital experiences from their interactions online to apps that use games to heighten engagement. How do luxury buyers in China get information about new luxury brands? 100% consult both online and offli

26、ne sources occasionally 16 Each consumer regularly consults information sources on luxury products 35 hours spent on luxury and fashion information each week Peter Parks/Getty Images 8 Close the sale Finally, as much as digital matters, companies should look to close the sale in brick-and-mortar sto

27、res. Despite their affinity for digital, nine out of ten young Chinese consumers favor in-person experiences with sales staff in brand stores when it comes to making a purchase decision. Brands need to reimagine in-store experiences; catering to young consumers desire to feel different and valued is

28、 important. They should think of the store as its own media channel. That means better exe- cution across a range of brand stores, premium malls, duty-free shops, and other outlets. Aimee Kim is a senior partner in McKinseys Seoul office, Lan Luan is an alumna of the Shanghai office, and Daniel Zips

29、er is a senior partner in the Shenzhen office. The authors wish to thank Cherry Chen, Chris Fang, David Green, Saskia Hedrich, Felicia Jia, Glenn Leibowitz, Frannie Li, Xiaoyun Li, Lin Lin, Adrian Lo, Joe Ngai, Erik Rong, Minyi Su, Jeannie Tse, Dina Xiao, Lei Xu, and Cherie Zhang for their contribut

30、ions to this article. For more, see “How young Chinese consumers are reshaping global luxury,” on McK. Luxury consumers in China look to salespeople for suggestions. Ofine brand channels with greatest impact on purchasing decisions, top 3 choices, % of respondents Suggestions from in-store assistants Trying on in person at store Critical roles for sales staf WeChat messages from in-store sales assistants 49 35 21 ChristianNasca/Getty Images