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Chinese Spending More On Luxury Goods For

 
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PostWysłany: Sob 21:38, 14 Gru 2013    Temat postu: Chinese Spending More On Luxury Goods For

Chinese Spending More On Luxury Goods For
Lorre White, The Guru of Luxury
Lorre White, "The Luxury Guru" defines luxury as a "quality of life", not simply amassing quantity " It is an enlightened approach to living". This allows these brands to benefit from the most powerful and fastest growing media source, the web. Americans use the internet to shop twice as much as the average individual. People spend more time on the web then in front of the TV. A recent study done by The Luxury Institute found that Luxury consumers were disappointed in the weakness of luxury brands to meet their on line needs. Luxury brands were slow to enter fearing affiliation with the mass marketers and an inability to supply "the luxury experience". The purpose of The Luxury Channel is to bring a luxury venue to the web where elite brands can have an appropriate environment to share their product knowledge and services in a sophisticated global reach. By all the brands sharing one venue it saves companies millions of dollars by having to establish their own channel from scratch and creating and producing content and paying to market their channel against all the other thousands of luxury brand's channels. Any commercial agency can create a product video for a company, but with The Luxury Guru you get the video and a way to distribute it internationally.
JNBY launched its kids collection last year
Kids' collections by major luxury brands are far from new in China, but according to a new survey, a rising percentage of wealthier Chinese are spending more on swathing their "little emperors" in highend items. Though the definition of "luxury goods" in the study is fairly broad, encompassing everything from toys to clothing, a trend has become clear in recent years as offshoots of "grownup" luxury brands like have expanded in China's major cities.
This, according to the China Research Center for Children's Industry, is a natural offshoot of the growth seen over the past several years in China's overall luxury market, as Chinese parents are known "to transfer their preferences in luxury goods to their children."
According to the new Albatross of 900 respondents, 60 percent claim to have spent more than 3,000 yuan (US$474) per month on luxury goods for their offspring in 2011. This is a significant rise over the 40 percent who claimed to have spent the same on previous surveys. As another study by USbased Sullivan recently found that annual urban Chinese household spending on children's products could reach $1,256 by the end of 2013.
As Yang Qingshan, researcher on luxury goods and services at the University of International Business and Economics in Beijing, told China Daily this week, we should expect more luxury brands to extend into children's products, as profit margins are higher (as less material is used but prices remain high) and costs are lower. Added Yang, "It's a huge market."
Baby Dior is highly popular among China wealthier new parents
Still, children's products account for only a small percentage of total sales for top luxury brands in China, with Burberry's financial results showing that these sales only accounted for four percent of brand revenue from March 2011March 2012. But with China's luxury market finally showing signs of slowing down after a multiyear tear, brands need to diversify their offerings to keep consumers interested.
According to Yang, this means they'll have little choice but to extend (or further expand) into this segment: choice for big brands], goods this trend shouldn't only buoy the likes of Gucci or Burberry but opens plenty of opportunities for smaller and homegrown brands. Last year, Hangzhou's JNBY debuted its "jnby by JNBY" kids' collection, shrinking down many of its adult designs for China's smallest (and arguably most spoiled) generation.
"It is impossible to overdo luxury. Give us the luxuries of life, and we will dispense with its necessaries. Easy to say, hard to be able to do unless you know the Guru of Luxury, Lorre White. I have traveled to many countries with Lorre and she really knows luxury. When she is not around me, I always watching Lorre's videos and I read Lorre's blog to keep up on what is new in the luxury market." Princess Victoria London "Lorre White is a great expert source for luxury knowledge and insights. She is also a great connector in the luxury industry." Milton Pedraza, CEO, Luxury Institute, LLC The Wealth Report "Lorre's take on the Luxury market is refreshing and frankly very much needed. Her stance on luxury as a "quality of life" vs. gluttonous amassing of quantity couldn't possibly be a timelier message given the times we live in." Michael, eVelvet Rope media, owner "Lorre is ground breaking and creative and brings a unique and much needed luxury reach to the web with her timely Luxury Channel on iTunes her LuxGuru blog. Now anyone in the world can watch." Peter M. Deeb, Chairman,[url=http://www.fcgeo.ca]ugg australia for sale[/url], Hampton Cie SA (Suisse) "I love working with Lorre, as she is truly unique expert in her field. She has a vast experience of luxury market and a very impressive international network. She knows the best luxuries by living her life in luxury." Mervi Sippola, Luxury Consultant, Monaco "I have been a client of Lorre and White Light Consulting about the US expansion plans for Flow, an endurance drink for golfers. I am always impressed with her marketing ideas, professionalism and amazing international contacts." Marko Sjoblom , Flow Owner, Finland/Monaco


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