Fashion is always the topic and luxury consumption become more rational rather than to show off. China Trends Media released China Trends Index White Paper 2013 last week. Look inside, data and chart reflect some insight of China and its fashion industry.
This article is written by Hanna Chen, L'Atelier Analyst Consultant based in Shanghai
As mobile ends (mobile and pad) become increasingly popular, they jump into the top 3 on the list of channels assess to fashion information, following with internet and fashion magazines. For the place to buy the fashion products, offline stores still the predominant way which takes more than half of the market share.
Switch to the luxury consumption, people purchase luxury products mainly to improve life quality, and they also appreciate the design and quality of the luxury goods. At the same time, purchasing luxury is a psychological satisfaction. Clothing, jewelry and watch are top 3 considering the average spending. Same as the general fashion industry, offline stores are major channel for luxury purchasing, followed by overseas purchase.
The interesting part of this white paper is designer brands, which are named as post-luxury. More people-who have purchased luxury- have purchased designer brands in 2013 (about 4% more than 2012). People value the design, uniqueness and material of the designer’s own products.
On the city fashion index ranking, the four 1st-tier cities-Beijing, Shanghai, Guangzhou and Shenzhen-rank top on the list as expected. The 2nd-tier cities such as Tianjin, Wuhan, Hangzhou and Chengdu also have good performance in fashion.
According to the survey, Chinese consumers are become more independent when choosing the fashion brand. The traditional retailing channels are facing the challenge from e-commerce even they’re still the majority. To improve the consumers’ experience and service, O2O is an inevitable trend.