2024中国奢侈品市场洞察报告（英文）

China Secures its Place at the Global Luxury Table2024 China Luxury Market Insights ReportHow Opportunities and Trends in China Luxury Market Shape the Chinese Quality LifestyleKiki FanAs a key player in the global luxury goods landscape, the status and influence of the Chinese market are increasingly prominent. At the same time, the evolution of China’s digital ecosystem and the deep integration of online channels with social media have turbo-charged the industry’s rise. After decades of rapid growth, the Chinese luxury market remains dynamic and opportunity-rich. By paying close attention to the concerns of consumers and understanding the needs of localization, companies can access a broad, high-value customer segment that delivers long-term value. With WeChat at the core, Tencent will continue to leverage its superior ecosystem, deep operations, and comprehensive touchpoints, to help luxury brands better understand consumers, and move in step with the Chinese market.General Manager, Tencent Marketing SolutionEric ChangFor China, which is both an emerging market and a leader in digital innovation, many luxury brands are actively exploring new positions and business models, focusing on tapping the digital space to guide consumer habits, making the online environment these brands’ “second space”. In its digital explorations, Tencent is leveraging its ecosystem, precisely targeting opportunity groups, and diversifying paths to conversion, to help brands streamline their marketing cycles and build their impact. The insight from industry trends is that when luxury brands tap the potential of digitalization to implement strategies such as precise marketing, content innovation, and omni-channel integration, they can not only better communicate their brand value, but also expand user boundaries, building a more stable and sustainable growth model.Deputy General Manager, Tencent Marketing SolutionVeronique Yang2024 presents a complex landscape for China’s luxury market. Despite ongoing discussions about slowing domestic growth and a rise in overseas shopping, Chinese luxury consumers' total expenditure has increased by 4%, and their contribution to the global luxury market has remained stable and significant over the past five years. This period is a test of brands’ resilience: decades of market cultivation have established luxury goods as a vital force in enhancing quality of life and aesthetics in China. The progress of brands, products, marketing, and services in the Chinese market is well recognized by luxury consumers. We strongly believe that as the online and offline business environment evolves, and digital marketing advances, brands with a long-term perspective will reap the rewards of significant growth.Managing Director and Senior Partner, Boston Consulting Group (BCG) Thomas ZouThis year, our research focuses on “deeply observing the mindset of Chinese luxury consumers and identifying unique Chinese trends within the broader global market co