Perspectives
What do prestige brands need to know about China, a market which is expected to drive much of the growth in luxury goods over the coming years?
Well, China is less about a 50-something millionaire, more about a 30-something, upper-middle-class consumer. It’s less about retail in Tier I cities, and more about new modes of distribution in Tier ll and lll metros. It’s less about print, more about mobile and emerging platforms. Less about expert editorial, and more about peer reviews (60% of consumers indicate that the Internet is one of the primary sources for information on luxury goods).