HONG KONG SAR - News Direct - 13 July 2022 - Global omnichannel agency Assembly is back with our much-anticipated global luxury brand reports. In 2022, we release a first-of-its kind-installment, focused on the market quickly becoming the most critical for luxury brands worldwide: China.

 

Download your copy of: LUXE IN CHINA – New Horizons for Luxury Brands

Assembly's LUXE IN CHINA: New Horizons for Luxury Brands

In 2020, it was reported that by the year 2025, China will contribute to half of all luxury goods purchases worldwide. Two years later and that trajectory is very much on track, as experts expect China to take its place as the world’s largest luxury personal goods market within the next three years.

Not only are the trends we see in this market relevant to the brands seeking to win the hearts and minds of Chinese consumers – but they also point towards luxury’s future place in the lifestyles of up-and-coming generations around the world. Where China leads in technological advances and innovation and bold, new experiences, others often follow.

In the 2022 report, we look at four key defining trends, with insight and examples of successful implementation and transformation done by global brands in the Chinese market:

• Emerging Media Formats
• Our Future in the Metaverse
• The Evolution of Offline Immersive Experiences
• New Consumer Engagement Beyond Brand

We also look at media investment trends across key luxury categories, as a signal of the continued digitalization of luxe brand experiences.

While challenging economic conditions and the continued effects of COVID are felt by all, luxury brands are creating vibrant, truly culture-defining moments to create closer connections with luxe consumers.