Niche luxury labels replace big-name brands as must-haves among China’s wealthy millennials
This generation of deep-pocketed consumers are driven by their quest for quality, distinctiveness and craftsmanship – all qualities that smaller bespoke names offer
This article was written by Marianna Cerini for Jing Daily
Over the past few years, a quiet but steady shift has been taking place among Chinese luxury shoppers.
Big logos are no longer a priority and, in their place, niche high-end labels and boutique products have been reshaping the retail landscape and are now becoming the new signifiers of luxury consumption.
This swing has been propelled by changes within the market itself, which has become younger and increasingly more sophisticated.
While only a decade ago it was all about knowing the difference between Gucci and Prada, today’s new generation of wealthy shoppers are driven by the quest for “quality”, “distinctiveness”, and “craftsmanship” – all elements that smaller, bespoke names in the industry often build their brands upon.
“Chinese customers are very dynamic,” says Sara Wong, director of merchandising for Hong Kong-based Pedder Group, the accessory specialist part of the Lane Crawford Joyce Group.
“They are travelling and are connected on social media, so they know what is trending globally.
Chinese customers are very dynamic. They are travelling and are very connected on social media, so know what is trending globally … they are hunting down brands that are new, unique and relevant.
“Traditionally, they would be attracted to brands with distinct logos, but now it’s all about hunting down brands that are new, unique and relevant.”