Saturday, August 13, 2022

China’s affluent aren't using WeChat for luxury: Survey


Luxury brands would be better off not using WeChat when reaching China’s most affluent consumers, according to the survey from Fortune, a Chinese media outlet, Jing Daily reports.

According to the survey, which was sent to 32,900 consumers in senior executive roles in China, magazines turned out to be the medium used most to keep track of luxury brand offerings, more than WeChat, Weibo and e-commerce sites.

Out of the 831 responses, 56 percent used magazines regularly as a way to receive information on luxury brands. This compared to 21.8 percent on WeChat, and 6.1 percent for Weibo.

The survey also covered traveling and shopping, which found that around 62 percent of respondents having purchased most of their luxury goods in Greater China in 2017, up 55 percent year-on-year.

It was only a few years ago that China’s consumers became known for jet-setting around the world in search of luxury products.

Chinese luxury spending is tied closely to VIP gambling spending, with many of Macau’s casinos focusing on luxury retail offerings. Gambling-related marketing in China is illegal.

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