Shanghaians to spend more on luxury goods than New Yorkers

ContactLab, an international player in digital direct marketing products and services, announces an exclusive preview for the international press of the key results of the Luxury Digital Behaviour Study.

 

The latest study offers new insight into the relationship between consumers and high-end clothing and accessory products in two particularly developed and competitive markets – the metropolitan areas of Shanghai and New York – and also measures the positioning and appeal of 20 luxury brands. The survey was carried out through a sample of around 1,000 residents between the ages of 25 and 54 in each city. 

 

The Chinese market, seen from Shanghai, confirms its standing as a market offering enormous opportunities to companies that produce high-end products: in the last 12 months four out of five individuals in the Chinese city have bought at least one luxury item.

 

What’s more, they would be willing to do so again in the next six months, planning to spend over 66% more than New York residents for the same type of purchase, according to the market research held by ContactLab. In Shanghai, 25% of those intending to make a purchase in the next year said their next bag acquisition will be a gift.

 

“Our new study on digital users and luxury brands was created to supply analysts and the market with valuable information that enable a deep understanding of consumer behaviour in order to define an integrated strategy for retail and e-commerce channels, both in terms of sales, promotion and communications,” explains Massimo Fubini, founder and CEO of ContactLab. “We chose to analyse in detail two particularly important areas such as New York and Shanghai to understand the most significant trends in the luxury goods market”. 

 

The study, conducted with individuals that have regular access to the internet, contributes to the understanding of consumer choices in using offline and online channels for purchases, and aims to help companies develop sales and communications strategies better adapted to steering consumer behaviour according to the relevant market.

 

There are strong similarities between Shanghai and New York: before making a purchase, in both cases we found the brand’s official website (not necessarily the e-commerce site) amongst the preferred information sources.