Assembly Releases Newest Global Luxury Brand Report: New Horizons for Luxury in China
Our 2022 report takes a magnifying glass to global luxury brand engagement in China, delivering four key consumer and market trends at the intersection of technology, culture, and brand experience.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.
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.
Kelvin Lee, Associate Director of Marketing
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Assembly is made of the ingredients of the modern agency, bringing together data, talent, and technology to deliver a connected set of solutions for media + more to the best brands on the planet. We're home to more than 1,500 of the industry's top talent, who bring unmatched global omnichannel media expertise + data, technology, and business consulting capabilities that find change and fuel growth for brands worldwide. Assembly is a proud member of Stagwell, the challenger network built to transform marketing. Visit www.assemblyglobal.com for more information.