Friday, 30 July 2010

Can You Spot The Super Rich? Debate In Luxury Consumer Market - 30/07/10

It’s a matter of ‘don’t judge a book by its cover’ in the Chinese luxury market, as many luxury brands are finding it hard to understand the Chinese consumers status-motivated shopping. The luxury goods market in China is estimated to come in at $9 billion this year, with a vast range of shoppers adding to the mix. China Market Research have revealed that 60-70 percent of this market is driven by young shoppers in their 20’s who save up to buy luxury goods, rather than make a small fortune, and other consumers including wealthy business men over 40 who may not dress to impress, are adding to the equation of shoppers that many luxury brands are choosing to underestimate.

As passionate supporters of the ‘consumer experience’, it’s disappointing to see consumers disregarded and to see distinctions drawn between what shoppers wear and what they can afford. By metering out consistent service to everyone, loyal relationships are formed, and it is a shame on any brand that can not practice equality with each consumer that comes to their store. We stand by a somewhat old but very appropriate quote from NIKE - “Just Do It!”

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,