In 2013, Chinese travelers spent $129 billion while traveling abroad — a staggering $43+ billion more than the United States ($86.2B) and Germany ($85.9B).
According to the US Department of Commerce, 1.8M Chinese travelers visited the United States in 2013 and spent $9.3B – an average of $5,400/person!
96% of planned purchases are executed by Chinese tourists once having arrived abroad. Over 50% of these travelers plan on making purchases for family and/or friends on top of what they plan on purchasing for themselves.
Of the 591 million Chinese with internet access (roughly 50% of the total population), almost 271 million shopped online in 2013, spending $265 billion dollars. That number is expected to skyrocket to $445 billion in 2015 (By comparison, Americans are expected to spend $250 billion in 2015).
Did you know 11/11 is Single’s Day in China (chosen for it’s four single 1s) and on that day singles go shopping and buy gifts for one another? Alibaba reported e-commerce sales of $5.7B on that day in 2013. Does your business have a marketing strategy for these culturally unique revenue-generating events?
78% of Chinese luxury buyers use the internet to obtain information before making the purchase, which indicates that the internet has become the de facto platform for luxury marketing. Online sales of luxury goods has become the irreversible trend in China.
"CHINA IS A DEMOGRAPHIC, NOT A GEOGRAPHY"- Avery Booker -
"Prestige brands can do a mediocre job in every other market and still grow revenues and profits substantially by getting one thing right: China. Year after year of double-digit growth has resulted in tens of millions of Chinese consumers armed with disposable income and a voracious appetite for luxury goods. In 2009 China surpassed the United States and is now the world’s second-largest luxury market, trailing only Japan. However, while many prestige brands have been in China for almost 20 years, most are still trying to determine how best to tap into this huge but complex opportunity. "
http://www.l2inc.com/research/china- SCOTT GALLOWAY -
"China: Knowing more about brands, Chinese expect greater choice, pursue status & quality. Word of mouth is King!"
Avoid double standards—Everyone travels!- Serdari Thomaï -
With a strong understanding of the Chinese market with its cultural uniqueness, VIPMerit can help your Brand build a solid omni-channel strategy that increases both your online and foot traffic.
VIPMerit has expertise in collecting consumer intelligence for clients on Chinese luxury consumers and outbound Chinese tourist-shoppers.
With two-thirds of all Luxury Purchases made by Chinese occuring while traveling abroad, a Chinese Outbound Traveler Strategy is a must for all Brands looking to capitalize on these sales.
VIPMerit works with some of China’s largest online websites on their Customer Loyalty Programs and can help you to elevate your Brand with Chinese shoppers in the market for Luxury Goods.
VIPMerit assists Global Brands to increase online/foot traffic leading to more sales by bringing in Chinese consumers via targeted marketing initiatives with some of China’s largest online travel agencies. We have also partnered with the biggest search engine organization in China to create an upscale online marketplace where consumers can purchase their favorite luxury items.
Let us elevate your success in the Chinese market by connecting you with Consumers who are actively looking to buy Luxury Goods. With tailored marketing programs that give you access to the people most likely to purchase in the very near future (whether it be while traveling abroad or shopping online), we are committed to providing you with the information and online/foot traffic to grow your Brand.