Chinese consumers evolve fast. Since 2015, The primary driver of luxury spending has changed, from new luxury consumers making their first purchase, to sophisticated luxury consumers who have purchased many luxury products. With this familiarity with luxury purchases comes a desire for more authentic purchases that are not about showing off “bling bling”, but about the intrinsic benefits of feeling good about owning products of high quality. Greater sophistication leads to greater awareness and emphasis on ethics and sustainability. In many ways, the Chinese consumer consciousness is evolving right before our eyes.
Luxury Search Terms Becoming More Sophisticated
In the past year, Baidu has found Chinese consumers using increasingly sophisticated and discerning search terms, with an eye for industry knowledge.
Luxury Consumers Purchase Luxury Products for Themselves
Previously, purchasing a luxury product was about “showing off” or “bling bling”. This attitude is no longer prevalent. It is replaced by a respect for the products quality, and an increase in self-esteem related to the individual’s experience.
Willing to Pay a Premium for Sustainability and Ethics
Chinese consumers put a higher value on brand sustainability and ethics than other countries. This is a result of becoming more discerning about their luxury purchases and can be a result of how much research Chinese do before they buy.