China remains one of the top destinations of luxury in 2019

In one of the first articles of this year published here in the Therapy of Luxury, we highlight the new Burberry collection celebrating the Chinese New Year. In addition to having a brand ambassador as a poster boy, the new collection also incorporates elements that are part of the country’s tradition in order to create pieces that connect even more with the reality of Chinese consumers.

This effort by the British brand to broaden the dialogue with the Eastern public shows that by 2019, again, the Chinese luxury market should stand out as one of the most important in the world. At least that is the desire of approximately half of consumers who stated in a recently released survey that they plan to spend this year even more than in 2018 with products and services linked to the premium universe.

The survey data is excellent news for some of the world’s top luxury brands who have invested heavily in the Chinese market in recent years.

However, it is worth mentioning that in early 2019, Apple, a technology giant that became a benchmark in the premium market in the smartphone segment, reported a reduction in revenue as a result of lower-than-expected sales growth. Like the American company, other iconic brands such as the Richemont group, which owns brands such as Cartier and Piaget under its management, also reported a decrease in its results.

The optimism of the beginning of the year must be accompanied also by the revision of goals and possible changes of strategies of the brands that operate in the Chinese market. That consumers are willing to buy, this is already clear, we will soon know how the luxury brands will find ways to delight their Chinese customers and thus expand their results in 2019.