MILAN, Aug 27 (Class Editori) – Within the next 5-10 years, China will be one of the main growth drivers of the fashion sector and a online platforms will represent a key role. According to research conducted by Morgan Stanley analysts, Chinese citizens will represent 30% and 70% respectively of the increase in sales of the global brands of sporting goods and European luxury goods brands. Furthermore, data shows that social media currently plays a more important role in China than in any other country in the world as regards the fashion and luxury market, including jewelery and watches.
84% of consumers base their purchasing decisions on research conducted online and, of these, 67% use social media, while for finding information on a brand they tend to use Baidu, the main search engine in Chinese language, or Weibo, a microblogging site. It was precisely from the study of the traffic on Weibo and Baidu that the brokers of Morgan Stanley analyzed the performance of the main fashion houses in China, including the holding companies LVMH, Kering, Prada and Ferragamo as far as luxury is concerned and Adidas, Nike and Puma among sports brands.
Three main points have emerged, that is the continuous outperformance of luxury brands since – despite the fact that customers tend to be more and more informed – this does not lead to market fragmentation; the fact that the French giant LVMH is recording performance at the highest levels and, finally, the lasting success of the Swiss watchmaking jewelry. "In soft luxury, our analysis of research trends indicates that the rising brands are Louis Vuitton, Dior, Chanel and Moncler.
Vuitton's progress has been steady over the years, unlike Chanel, and interest in the brand seems to have been very strong in the first half of 2019," the investment bank experts stated. "The surge of Burberry and Ferragamo since the beginning of the year seems to have been limited. The brands in slight decline in 2019 are Gucci and Saint Laurent. Prada also fell in terms of research, despite the recovery in spending in June, as did Hugo Boss, Tod's, Versace, Balenciaga, Dolce & Gabbana and Dunhill". The report then continued: "In the first half of 2019, hard luxury does not show any decline". (All rights reserved)
(Source:Class Editori)
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