Table of Contents
Overview
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- What you need to know
- Covered in this Report
Executive Summary
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- The consumer
- Will apparel remain a priority spend?
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- Figure 1: Best- and worst-case forecast for consumer expenditure in clothing and accessories, at current prices, 2012-22
- What brands and styles attract people most?
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- Figure 2: Top luxury fashion brands, February 2017 vs March 2018
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- Figure 3: Consumers’ preferred fashion styles, January 2018
- Where brands invest to increase favourability: themselves or influencers?
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- Figure 4: Channels from which consumers look for fashion inspiration, January vs March 2018
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- Figure 5: Consumer attitudes towards the influence of brands vs influencers/celebrities, March 2018
- How brands promote themselves on social media?
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- Figure 6: Desired content provided by luxury brands on social media, March 2018
- Which channel leads to more retail sales, online or offline?
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- Figure 7: Channels from which clothes and shoes bought most often in the last two years, January 2018
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- Figure 8: Consumer attitudes towards buying luxury branded fashion products via different channels, March 2018
- What drives people to buy fast fashion?
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- Figure 9: Reasons why consumers choose fast fashion apparel to buy, January 2018
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- Figure 10: Important factors that encourage consumers to purchase fast fashion items, January 2018
- What we think
Issues and Insights
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- Should fashion brands be more lifestyle?
- The facts
- The implications
- Role of internet celebrities in the fashion world: bigger reach, trendier and more genuine
- The facts
- The implications
The Consumer – What You Need to Know
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- Dress to feel good on the inside
- Eager to be influenced by brands
- What really separates luxury, premium and fast fashion brands?
Consumer Spending on Fashion
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- A cautiously optimistic outlook
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- Figure 11: Consumer expenditure in clothing, footwear and accessories, 2012-17
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- Figure 12: Best- and worst-case forecast for consumer expenditure in clothing and accessories, at current prices, 2012-22
Where to Search Fashion Inspiration
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- The invincible power of brands, especially among affluent consumers
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- Figure 13: Channels from which consumers look for fashion inspiration, January vs March 2018
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- Figure 14: Consumer attitudes towards the influence of brands vs influencers/celebrities, March 2018
- Role of financial stability in information channel preferences
- The value of word of mouth among high-end consumers
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- Figure 15: Selective channels from which consumers look for fashion inspiration, March 2018
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- Figure 16: Consumers’ trust on different types of fashion influencers, March 2018
Desired Fashion Content on Social Media
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- Interested in keeping up with the luxury world?
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- Figure 17: Lifestyle statements, by luxury following status, March 2018
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- Figure 18: Official accounts on social media followed, by luxury following status, March 2018
- Look for inspiration more than information
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- Figure 19: Desired content provided by luxury brands on social media, March 2018
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- Figure 20: Turf analysis – desired content provided by luxury brands on social media, March 2018
Popular Dressing Style
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- The line between work and leisure is blurring
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- Figure 21: Consumers’ preferred fashion styles, January 2018
- Those who know more want to look stylish
- Fashion style preferences by demographics
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- Figure 22: Consumers’ preferred fashion styles, by gender, January 2018
- Figure 23: Consumers’ preferred fashion styles, by age, January 2018
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- Figure 24: Knowledge about the term ‘fast fashion’, by age, January 2018
- Figure 25: Consumers’ preferred fashion styles, by monthly personal income, January 2018
Favourite Luxury Fashion Brands
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- Top brands remain consistent from previous years
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- Figure 26: Word cloud of consumers’ favourite luxury fashion brands, March 2018
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- Figure 27: Top luxury fashion brands, February 2017 vs March 2018
- Brand preferences by demographics
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- Figure 28: Top luxury fashion brands, by gender, March 2018
Purchase Channel
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- Digital vs physical shopping; which is more popular?
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- Figure 29: Channels from which clothes and shoes bought most often in the last two years, January 2018
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- Figure 30: Top five channels from which clothes and shoes bought most often in the last two years, by purchase channel, January 2018
- Alternative but crucial ways of buying luxury fashion
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- Figure 31: Consumer attitudes towards buying luxury branded fashion products via different channels, March 2018
- Key characteristics of future purchase channels: brand-oriented, diversified (especially foreign)
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- Figure 32: Channels from which clothes and shoes bought most often in the last two years, by consumer classification, January 2018
- Different expectations from Chinese vs overseas shopping websites
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- Figure 33: Reasons why consumers choose fast fashion apparel to buy, by selective purchase channel, January 2018
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- Figure 34: Important factors that encourage consumers to purchase fast fashion items, by selective purchase channel, January 2018
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- Figure 35: Channels consumers look to for fashion inspiration, by selective purchase channel, January 2018
- Special expectations from brand stores
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- Figure 36: Important factors that encourage consumers to purchase fast fashion items, by selective purchase channel, January 2018
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- Figure 37: Channels consumers look to for fashion inspiration, by selective purchase channel, January 2018
Reasons for Purchasing Fast Fashion
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- The main motivation to purchase fast fashion: product upgrading
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- Figure 38: Reasons why consumers choose fast fashion apparel to buy, January 2018
- Fashion purchase is a kind of emotional therapy
Desired Product Features of Fast Fashion
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- Feeling comfortable vs looking good: which factor encourage sales?
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- Figure 39: Important factors that encourage consumers to purchase fast fashion items, January 2018
- Does foreign background help improve sales?
Differences between Fast Fashion and Premium Brands
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- Design vs price: which puts a brand into the premium list?
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- Figure 40: Factors that distinguish fast fashion and premium brands, January 2018
- Is becoming a lifestyle brand a good way of premiumisation?
Differences between Premium and Luxury Brands
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- Design vs material quality: which sets luxury brands apart from the rest?
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- Figure 41: Factors that distinguish fast fashion and premium brands, March 2018
- Attitudes towards today’s luxury brands’ design
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- Figure 42: Consumer attitudes towards “I’m not happy with today’s fashion design style of luxury brands”, March 2018
Purchase Decision regarding Brand Types
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- Which brand tier is sold better?
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- Figure 43: Clothes, shoes and accessories bought in the last two years, March 2018
- Selling luxury accessories is a profitable business
- Attitudes towards suppliers of luxury brands vs luxury brands
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- Figure 44: Consumer attitudes towards “I'm willing to purchase low-priced fashion products sold by suppliers of luxury brands”, March 2018
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- Figure 45: Selective consumers’ preferences and behaviours, by interest in ODM, March 2018
- Attitudes towards Chinese independent designers vs luxury brands
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- Figure 46: Consumer attitudes towards “It's unreasonable that the price of fashion products made by Chinese independent designers is similar to international luxury brands”, March 2018
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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