Bridging the trust gap
The end of the luxury e-commerce dilemma in China
After a three-year slowdown in 2013-2015, the China luxury market is back on a solid growth trajectory. Chinese customers account for 25% to 35% of global luxury sales and most of it (65% to 75%) is happening outside of China. However, shrinking price gaps between China and the rest of the world have been driving Chinese purchases back to China and most of this growth has been happening online. Online sales now represent 9% of China luxury fashion and accessories sales. But online penetration is still low compared to other product categories in China. Most surprisingly, the share of online sales in luxury fashion and accessories is lower in China than in other developed markets.
“Bridging the trust gap - The end of the luxury e-commerce dilemma in China”, offers luxury brands insights into Chinese consumers’ preference on luxury brand spending, in particular the online channels, and offer tips to brands on how to win and thrive in this growing but competitive market.