New York – China Luxury Network, ChinaContact, and Jing Daily have partnered to give global luxury brands an overview of recent trends in the China luxury market, provide a digest of Chinese luxury consumer preferences, and discuss strategic and tactical recommendations for brands to attract and retain Chinese customers.
China is already the second largest luxury market in the world, and with more than one million millionaires today, is on its way to becoming the world’s largest luxury market by 2020.
With more than half of Chinese consumers’ luxury purchases being transacted abroad, engaging Chinese travelers wherever they travel has become an operational imperative for global prestige brands.
On February 29, 2012, China Luxury Network, ChinaContact, and Jing Daily will host two half-day seminars on the subject.
The morning symposium session will focus on insights and recommendations in attracting high net worth Chinese consumers for hospitality and travel companies, from marketing partnerships to branding and amenities.
The afternoon symposium is geared toward luxury brands and retailers, and will review data from AffinityChina’s most recent experiential branding event Dragon Week in New York, as well as tactics by which to attract and convert Chinese consumers, including merchandising, payment and staffing.
China Luxury Network Co-Founder, Sage Brennan, commented: “Tourism from China to the United States is ramping up for a threefold increase. President Obama recently issued an executive order to accelerate visa approval for foreign citizens - especially arrivals from China - which is expected to add US$850 billion to the US economy by 2020. We are actively working with luxury brands to capture this market on both sides of the Pacific.”
ChinaContact Founder, Roy Graff, continued: “Chinese luxury tourists have unique brand perceptions, travel habits, purchase preferences, and service expectations. Companies need to completely rethink their branding, marketing&selling strategies to serve this emerging customer.”
Jing Daily Editor, Avery Booked, added: “Chinese tourists spent more than US$7 billion overseas during this year’s Chinese New Year holiday. We expect continued growth in Chinese luxury purchases overseas throughout 2012.”
The two symposia will take place on February 29 at the AW Asia Organization. Attendees include senior leaders from such luxury brands as Cartier, L’Oreal, Tumi, Bergdorf Goodman, Hotel Athenee, and Mandarin Oriental. Media will also be in attendance, including China’s largest national news agency, Xinhua.