2021
0
China Luxury Accessories Market Report 2021
2021-10-26T04:24:40+01:00
OX1047279
3695
143881
[{"name":"Accessories and Jewellery","url":"https:\/\/store.mintel.com\/industries\/fashion\/accessories-jewellery"}]
Report
en_GB
“Luxury accessories have been the first choice for consumers when gifting and treating themselves in recent years. But consumers’ attitudes and shopping habits are constantly changing. Their purchases have become…

China Luxury Accessories Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

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Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Covered in this Report
        • Executive Summary

            • The market
              • Both online and offline shopping are flourishing
                • Second-hand market is developing
                  • Companies and brands
                    • Brands are in good recovery
                      • Better products, better service
                        • The consumer
                          • Luxury accessories products for frequent use
                            • Figure 1: Accessories purchased from different brands, 2021
                          • Being more rational
                            • Figure 2: The reason for buying luxury accessories, 2021
                          • Expecting the speciality
                            • Figure 3: The driven factors for buying luxury accessories, 2021
                          • Coexisting classics and trendy
                            • Figure 4: Preferred style of luxury accessories, 2021
                          • Offline channels prevail
                            • Figure 5: Purchasing channel for buying luxury accessories, 2021
                          • Luxury accessories stands for exquisite and sincerity
                            • Figure 6: Selected attitudes towards luxury accessories, 2021
                          • What we think
                          • Issues and Insights

                            • Increasingly rational and individual consumption
                              • The facts
                                • The implications
                                  • Figure 7: Daniel Essa’s luxury trainers, 2021
                                • Chinese and unisex collections are prevailing
                                  • The facts
                                    • The implications
                                      • Figure 8: Zodiac square scarf, 2021
                                    • Second hand accessories are promising
                                      • The facts
                                        • The implications
                                          • Figure 9: Gucci X The RealReal, 2021
                                      • Market Drivers

                                        • Growing consumption power drives luxury market
                                          • Booming eCommerce
                                            • Growing domestic duty free stores
                                              • Second-hand luxury market nudges consumption
                                                • Cross boundary keeps emerging
                                                • Key Players Performance

                                                  • LVMH
                                                    • Kering
                                                      • Richemont
                                                        • Hermes
                                                          • Swatch Group
                                                          • Competitive Strategies

                                                            • Leveraging the online shopping experience
                                                              • Play with virtual products
                                                                • Figure 10: The Gucci Garden Experience, Gucci, 2021
                                                              • Perfect repair service
                                                                • Figure 11: Ownever repair service, 2021
                                                              • Expand categories to commodities
                                                                • Figure 12: Air pods case by Chanel and Bottega Veneta, 2021
                                                            • Who’s Innovating?

                                                              • Making products more exquisite
                                                                • Figure 13: Fendi’s smell bag
                                                              • Cross boundary integration with live house
                                                                • Figure 14: Loewe’s live house, 2021
                                                              • Integrate into sport space
                                                                • Figure 15: HermèsFit in Chengdu, 2021
                                                            • Purchased Product

                                                              • Luxury branded accessories are more popular
                                                                • Figure 16: Accessories purchased from different brands, 2021
                                                              • Marketing luxury jewellery as inheritance
                                                                • Figure 17: Accessories purchased from different brands, by marriage status, 2021
                                                                • Figure 18: Series of Inheritance by Chow Tai Fook, 2021
                                                              • Co-branding and dressing tips are promising for luxury apparel accessories
                                                                • Figure 19: Reasons for buying luxury hats and scarves, 2021
                                                            • Purchasing Purpose

                                                              • Pay for self-pleasure
                                                                • Figure 20: Reasons for buying luxury accessories, 2021
                                                              • Men buy for gifts, women are getting more rational
                                                                • Figure 21: Selected reasons for buying luxury accessories, by gender, 2021
                                                              • Younger consumers still willing to pay for pop stars
                                                                • Figure 22: Selected reasons for buying luxury accessories, by gender, age and monthly personal income, 2021
                                                              • The rising potential for KOLs
                                                                • Figure 23: Selected reasons for buying luxury accessories, by gender and monthly personal income, 2021
                                                            • Attractive Factors for Purchasing

                                                              • Attractive factors are various but uniqueness is the core
                                                                • Figure 24: The driven factors for buying luxury accessories, 2021
                                                              • Dressing tips and co-branding may affect female purchasing
                                                                • Figure 25: The driven factors for buying luxury accessories, by gender, 2021
                                                              • Build brand loyalty in high tiers and widen sales targets in lower tier cities
                                                                • Figure 26: The driven factors for buying luxury accessories, by city tier, 2021
                                                              • Lure high earners with customised service
                                                                • Figure 27: The driven factors for buying luxury accessories, by monthly personal income, 2021
                                                            • Preferred Style of Luxury Accessories

                                                              • China chic is in
                                                                • Figure 28: Preferred style of luxury accessories, 2021
                                                                • Figure 29: Preferred Guochao and Chinese minority style of luxury accessories, by age, 2021
                                                                • Figure 30: ZangQiang embroidery, 2021
                                                              • Marketing to men via technology elements
                                                                • Figure 31: Selected preferred style of luxury accessories, by gender, 2021
                                                                • Figure 32: Snap chat X Gucci, Spectacles 3, 2020
                                                              • Marketing to youngers with gender neutral style
                                                                • Figure 33: Selected preferred style of luxury accessories, by generation, 2021
                                                            • Purchasing Channel

                                                              • DFS and second-hand stores in growth
                                                                • Figure 34: Purchasing channel for buying luxury accessories, 2021
                                                              • Second hand are more accepted by high earners
                                                                • Figure 35: Purchasing preference for buying luxury accessories, by monthly personal income and city tier, 2021
                                                              • Marketing to Gen Z via vintage and social media
                                                                • Figure 36: Purchasing channels for buying luxury accessories, by generation, 2021
                                                            • Attitudes towards Luxury Accessories

                                                              • Exquisite but also good looking
                                                                • Figure 37: Selected attitudes towards luxury accessories, 2021
                                                              • The opportunity for second-hand luxury in tier 1 cities
                                                                • Figure 38: Selected attitudes towards luxury accessories, by city tier and generation, 2021
                                                              • Blind box and athleisure for females
                                                                • Figure 39: Selected attitudes towards luxury accessories, by gender, 2021
                                                              • Leveraging shopping experience for older generation
                                                                • Figure 40: Selected attitudes towards luxury accessories, by generation, 2021
                                                            • Appendix – Methodology and Abbreviations

                                                              • Methodology
                                                                • Abbreviations

                                                                About the report

                                                                This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

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