Table of Contents
Executive Summary
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- The market
- Impact of COVID-19 on designer brands
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- Figure 1: Summary of impact of COVID-19 on designer brands, May 2020
- Increasing disposable income continues to increase
- National culture prevails
- Companies and brands
- Rising Chinese designers
- Designers walk to the stage
- Culture and technology
- The consumer
- Designer brands are niche but with great opportunity
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- Figure 2: Consumers’ favourite brands, May 2020
- Frequently used products are popular
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- Figure 3: Designer-branded products bought, by category, May 2020
- Accessories are attractive to high earners
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- Figure 4: Price preference for purchasing designer-branded products, May 2020
- Offline shopping still dominating
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- Figure 5: Information source for designer brands, by city tier, May 2020
- Accessibility comes before price and style
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- Figure 6: Consumers’ perception of designer brands, May 2020
- Raising curiosities
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- Figure 7: Attitudes towards designer brands, May 2020
- What we think
Issues and Insights
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- Raising brands’ reputation via omnichannel strategy
- The facts
- The implications
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- Figure 8: Jarel Zhang’s Six Degrees show, September 2020
- Leverage the product value
- The facts
- The implications
- Cultivate vertically with focus
- The facts
- The implications
The Market – What You Need to Know
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- Designer brands are rising
- Culture elements become popular
- Social media driving sales
Market Drivers
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- Increasing disposable income
- Circle culture booms
- National culture prevails
Key Players – What You Need to Know
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- Products speak loud for designer brands
- Shopping experience shortens the distance between consumers and designer brands
- Powered by culture and technology
Key Players’ Performance
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- Alexander Wang
- Shiatzy Chen
- Angel Chen
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- Figure 9: Angel Chen design, May 2020
- HEFANG Jewellery
- Shine Li
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- Figure 10: Shine Li boutique in Xi’an, May 2020
Competitive Strategies
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- Extend consumers’ shopping experience
- Deep dive the preference of niche audience
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- Figure 11: Blackhead boutique, May 2020
- Collaboration is important for branding
Who’s Innovating?
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- The story of materials
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- Figure 12: Susan Fang design, April 2019
- When arts meet technology
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- Figure 13: Yangzi design, May 2019
The Consumer – What You Need to Know
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- Designer brands have bright future
- Designer brands need further exposure to consumers
- Frequently used products have better market
Favourite Brand
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- Relatively limited knowledge of designer brands
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- Figure 14: Claimed favourite designer brands’ names in word cloud, May 2020
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- Figure 15: Consumers’ favourite brands, May 2020
- Highly educated consumers are more loyal to brands
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- Figure 16: Consumers’ favourite brands, by education, May 2020
Designer-branded Products Bought
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- Purchase for high frequency of use and high recognition
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- Figure 17: Designer-branded products bought, by category, May 2020
- Young consumers are the more interested in jewellery and watches
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- Figure 18: Designer-branded products bought, jewellery and watches, by age, May 2020
- Figure 19: Social listening for mentioned jewellery notes, May 2020
- Post-1980s tend to be picky
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- Figure 20: Designer-branded products bought, by age, May 2020
- Sportswear to men
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- Figure 21: Designer-branded products bought, by gender, May 2020
Pay for Designer Brands
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- Willingness to embrace high-priced jewellery and watches
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- Figure 22: Price preference for purchasing designer-branded products, May 2020
- Lure consumers with entry-level products
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- Figure 23: Price preference for purchasing designer-branded products, by monthly personal income, May 2020
- Differentiate price for handbags
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- Figure 24: Price preference for purchasing designer-branded products, by age, May 2020
- Designer-branded clothing is more popular
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- Figure 25: Price preference for purchasing designer-branded products, by age, May 2020
- Small leather goods to men
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- Figure 26: Price preference for purchasing designer-branded products, by gender and age, May 2020
Source Information
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- Offline retailing matters
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- Figure 27: Information source for designer brands, May 2020
- Brand means more to mature consumers
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- Figure 28: Information source for designer brands, by age, May 2020
- Gender difference
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- Figure 29: Information source for designer brands, by gender, May 2020
- Lower tier city consumers are more practical
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- Figure 30: Information source for designer brands, by city tier, May 2020
Purchase Barrier
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- Inherent impression remains
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- Figure 31: Consumers’ perception of designer brands, May 2020
- Marketing to men
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- Figure 32: Consumers’ perception of designer brands, by gender, May 2020
- Concerns vary by city tiers
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- Figure 33: Consumers’ perception of designer brands, by city tier, May 2020
- Barriers to younger generation
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- Figure 34: Consumers’ perception of designer brands, by age, May 2020
- Detail-oriented high earners
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- Figure 35: Consumers’ perception of designer brands, by monthly personal income, May 2020
Attitudes towards Designer Brands
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- Positive expectations towards designer brands
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- Figure 36: Attitudes towards designer brands, May 2020
- Price sensitivity differs by age
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- Figure 37: Attitudes towards paying more for luxury brands than designer brands, by age, May 2020
- Underestimated by high earners
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- Figure 38: Attitudes towards paying more for luxury brands than designer brands, by monthly personal income, May 2020
- Advantages in the lower tier cities
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- Figure 39: Attitudes towards designer brands, by city tier, May 2020
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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