The recent Luxury Interactive conference in New York from 17-19 October 2016 addressed the preserve of traditions and heritage in a digitalised world and talks on the latest technological developments in the luxury industry.
Below are the key takeaways from the conference on pursuing China luxury sales and marketing strategies for the digital world.
According to speaker Nancy Zhang, the COO of multi-brand luxury retailer Otte New York, finding the right social media influencers in China means having in-depth knowledge of which fashion bloggers are truly resonating with a younger consumer base.
The right influencer can be useful not only for major labels, but also for niche luxury brands and retailers to gain significant visibility and cachet.
Engage the Chinese-American consumer
Jennifer Wang, the co-founder and CMO of U.S.-based online shopping and daily deals site Dealmoon, discussed her main strategy to build up this audience revolved around developing a specific voice on Chinese-language social media, which included “not doing marketing, but being their friends.”
Define a flagship luxury experience online
Another important strategy for China outlined by Zhang was the concept of the digital “flagship luxury experience” to create a sense of exclusivity online when it comes to both browsing for information and shopping.
While many heritage luxury brands are worried that e-commerce may not create a high-end experience, it is crucial for smaller niche retailers who “cannot rely on opening giant black flagship stores,” she said.
Embrace a “phygital” future
In addition to e-commerce, brands’ brick-and-mortar shops are now a crucial platform to employ a digital strategy, whether they’re aware of it or not, according to Euromonitor International Senior Analyst Ayako Homma.
She called this strategy “phygital,” or a combination of digital and physical, citing examples of “retail theater” such as Burberry’s “magic mirrors” in fitting rooms.
Develop a tailored social commerce strategy
Zhang recommended that brands need to carefully examine top Chinese platforms like Tmall, JD.com, Red, and Mogujie to see if any fit with their identity.
“They’re able to target a much more specific sector of the retail world—in the millennial market—and really speak a very specific language to them and give them specific products that match their identity.”
(Source: Jing Daily)