Luxury Fans Born In The 1980s Quickly Developing Strong Brand Loyalty, Increasingly Sophisticated Taste
Much of the news we see coming out of China’s luxury market tends to focus on consumers in the 30s and 40s, if not older, but an interesting article from the Beijing Review (via Alibaba News) today looks at a younger demographic — the luxury crowd in their early- to mid-20s. While the number of young people in China who can afford top luxury goods is formidable, it is admittedly only a segment of a segment of this age group, as it is in most global markets. However, what makes them remarkable in China is the speed at which they have not only found and stuck with the brands they like, but have become immensely influential to marketers and designers around the world.
Ding Wenlei, writing for the Beijing Review, looks into the importance of the Chinese luxury market to global brands, who are looking to “glocalize” their products for emerging markets in China and India: