Luxury brands looking to market they on China’s social media platforms must be well-versed in the country’s cultural norms.
The days in which companies "managed to reap huge profits with crude strategies in China" are gone. Typical obstacles for brands included slow online activity, poor communication, awkward attempts at localising marketing efforts, and over-expansion, according to Luxury Daily. Today, mistakes like these are becoming more and more unacceptable for businesses trying to make it in the competitive Chinese luxury market.
E-commerce in China continues to grow at an astounding rate. The Boston Consulting Group recently conducted a study on Chinese expansion of online retail. Called The Chinese Digital Consumer in a Multichannel World, the report expects the number of online shoppers in China to reach 380 million by 2016. Despite such a huge pool of potential customers, brands must market themselves on the internet with care, as just 5 percent of online activity is spent on company or brand websites. Cultural competency is a must, according to Rand Han, founder and managing director of Resonance China.
(Source: Red Luxury)