The world’s largest market

01

The potential of the Chinese market is not new. After all, it is not today that the country’s large population contingent on an economy that insists on growing even in times of instability makes the nation one of the most attractive markets in the world.

For brands in the high-end segment, a certainty becomes increasingly crystal clear: China is also the world’s largest market for luxury goods and services.

And a good example is the automotive segment. According to the sales results released, only last year, nearly 24 million passenger cars were sold in the country. The number is really impressive and it is worth noting that 57% of this total are made in other countries and, above all, a large portion is luxury cars.

In 2016, automakers like Maserati, McLaren and Porsche have hit their sales records in the country. Lamborghini, on the other hand, had a growth of 50% compared to 2013 and Bentley already has orders that almost surpass its production capacity.

The luxury car market in China presents a rather curious recent history. After several government economic and policy measures, category sales fell sharply. But in recent years, numbers have been steadily increasing and showing that four-wheel drive luxury is a true Chinese passion.

It is also not today that the Therapy of Luxury accompanies the growth of this market. Already in 2015 we published articles on the subject and on the last day of April six aired the text that identified the sales growth of brands like Moncler, Louis Vuitton and Gucci in Chinese territory.

The strength of the Chinese market is a reality that should consolidate in the coming years. The most important luxury brands on the planet have the challenge of understanding the particularities of this market and, without giving up the performance in other countries, invest heavily to please the increasingly demanding Chinese consumers.