Zhou Ting: Luxury brands shift from selling products to selling culture

w88 casino News2012At the beginning of this year, after Louis Vuitton, Bulgari and Chanel successively held cultural exhibitions in Beijing, Montblanc, another internationally renowned luxury brand, opened a concept store in Beijing. International luxury brands are opening famous stores and holding exhibitions to compete in the Chinese market. In response to this phenomenon,CCTV-2Financial Channel’s “Global Financial Network” column invites associate professor of w88 casinoZhou TingThe doctor has an in-depth discussion on the development of China's future luxury market.

Zhou Ting affirmed that second- and third-tier cities will become the new growth engines of China’s luxury goods market in the future. This is mainly due to the continuous gathering of wealthy people due to economic development, and the consumption concept has begun to shift towards enjoyment and self-use. The focus of future luxury brand development is that first-tier cities focus on building brand awareness, and second- and third-tier cities do sales.

In view of the fact that luxury goods have chosen to hold cultural exhibitions in Beijing, Zhou Ting pointed out that this is the traditional cultural marketing of luxury brands to convey the essence of the brand to consumers. In China, luxury brands are also changing from selling products to selling culture. The reason why we choose to hold a cultural exhibition in Beijing is mainly because Beijing has rich media resources, which is conducive to luxury brands occupying a position in communication channels and expanding brand awareness. In addition, Beijing, as a representative of northern cities, can drive the development of the entire northern China in the field of circulation.

Zhou Ting also specifically said that for consumers, the inherent culture of luxury goods should be the ultimate pursuit of their consumption. Perseverance, perseverance and suffering are the essence of a century-old heritage of luxury brands. If a developing luxury brand wants to truly succeed, these three standards must be adhered to.

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