Perspectives
The 700 million male consumers in China are becoming the king’s of international luxury brands, such as LV and Armani. After 30 years of rapid economic development, a flood of high-end consumers are emerging in the country where the fashion world no longer opens its doors to women only. Related studies show that about 70 percent of Chinese high-end consumers are made up of men as the backbone of the Chinese high-end consumer base. The high-end ‘Male Economy’ consumption is growing as a new tide in the nation. Vipstore.com, the nation’s high-end e-commerce platform providing fashionable products, is witnessing and benefiting from this booming market.
Industry professionals predicted that over the next two years, sales of luxury goods in China’s e-commerce sector will reach RMB20 billion. The shopping enthusiasm of male buyers in China as the second largest consumer of luxury goods will astonish the world. The young rich led by men as a new wave has been quickly followed by high-end fashion-focused e-commerce platform Vipstore.com that has benefited a lot from the “hunting” of male consumers.
VIPStore has differentiated itself from market competitors, e-commerce websites focusing on luxury products for female consumers, by providing high-end male consumers with new consumption choices. Each day, VIPStore launches more than 20 sales promotions targeting males, offering a variety of stylish items selected by its global fashion buyers, such as Rolex and Armani watches, Ralph Lauren Polo shirts and Dupont men’s shoes. Sales of male products accounted for around 50 per cent of VIPStore’s monthly sales of tens of millions of yuan, and the proportion is expected to keep rising, according to market feedbacks. The strong growth momentum is the result of what VIPStore exactly meets in market demand from high-end male consumers.