2017中国奢侈品行业（英文版）

LUXURYCHINA,May 24, 2017,1,LUXURY CHINA 2017,E XCERPT,THE FULL REPORT IS AVAILABLE TO L2 MEMBERS ONLY. INQUIRE ABOUT MEMBERSHIP.,2,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,LUXURYS FOCUS SHIFTS BACK TO CHINAAfter two years of decline, mainland Chinas Luxury market resumedgrowth in 2016, with a 4 percent year-over-year increase in value.1 Whilethe countrys anti-corruption campaign has yet to end, brands saw arepatriation of Chinese Luxury spending as they conducted global priceharmonization and as Chinese consumer confidence rebounded. TheChinese governments efforts to keep more spending in the country throughnew tariff policies, a crackdown on smuggled daigou items (products,purchased abroad to be sold in China), and an expansion of non-airportduty-free sales contributed to this growth. Major companies including,E-Commerce AcceleratesLooking to capitalize on the markets resurrection, Luxury brands areaccelerating e-commerce and social investments in China and leveragingcelebrities and influencers to amplify the impact. Still wary of Tmall andJD.com, 9 percent of Luxury brands have launched direct-to-consumer(DTC) e-commerce in the last year. Led by Watches & Jewelry brandsincluding Bulgari, Cartier, and Dior, 8 percent of brands have experimented,with WeChat commerce as an alternative form of DTC e-commerce. Mostof these forays into WeChat commerce have been one-off, limited-timesales, and it remains unclear whether the platform is scalable. Local Luxurye-tailers such as Secoo and Xiu and global Luxury pure plays (e.g. Farfecth,and Yoox) are also aggressively investing. Whether Luxury brands areworking with these platforms in an official capacity or not, their products arelikely still available on them.1. “2016 Worldwide Luxury Market Monitor ,” Bain & Company, October 20, 2016.2. “Chinese shoppers begin to buy luxury brands againat home ,” Financial Times, January 26, 2017.May 24, 2017,L2 research is based on data-driven analysis. Our findings, rankings, andrecommendations are objective, unbiased, and independent of membership.,R. Danielle Bailey | Head of APAC ResearchLiz Flora | Editor, APAC ResearchAriane Turley | Senior Research Associate, APAC,Han Deng | Research Associate, APACWenyan Liu | Research Associate, APACElena Akulova | Senior Designer,2014Source: L2 analysis of Bain & Co. data, October 2016.,-1%,-2%,2015,LVMH, Kering, Herms, Burberry, and Prada have all reported a rebound inmainland China sales, and Swiss watches began to recover in the summerof 2016 with 9 percent growth in the second half of the fiscal year.22016E,Luxury China: Change in Value of Mainland China Luxury Market atFixed Exchange Rate20142016E+4%,3,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,Still More Than the MainlandChinese shoppers remain the Luxury industrys biggest-spending nationality, but most of their shopping still takes placeabroad.3 Although the Chinese represent an estimated 30,percent of Luxury spend, Chinas domestic market accountsfor only 7 percent of the global Luxury market. Luxury brandsdigital investments are crucial to capitalizing on these Chineseconsumption trends both within China and abroad. However,traveling Chinese consumers continue to be underserved,digitally by Luxury brands. While 84 percent of Luxury brandslist their international store locations on their brand site, only36 percent provide airport locations, and less than a quarterenable geolocation of overseas stores via WeChat. Failing toengage Chinese consumers prior to and during their trips is amissed opportunity for Luxury brands.,Digital IQ=Shareholder ValueDigital competence is inextricably linked to shareholder value.This study benchmarks the digital competence of 89 Luxurybrands across Fashion and Watches & Jewelry sectors inChina. Our aim is to provide a robust tool to diagnose digital,strengths and weaknesses, helping managers achieve greaterreturn on incremental investment. Like the medium we areassessing, our approach is dynamic. Please reach out withcomments to help improve our methodology and findings.Regards, L23. “2016 Worldwide Luxury Market Monitor ,” Bain & Company, October 20, 2016.May 24, 2017,Luxury China: Percent of Global Luxury Sales by Nationality vs. Region2016,Source: L2 analysis of Bain & Co. data, October 2016.,10%REST OFASIA11% JAPAN19% EU,30% CHINA23% US,33% US,13%REST OFASIA9%JAPAN33% EU,7% CHINA,LUXURY SALES BY NATIONALITY7% REST OF WORLD,LUXURY SALES BY REGIONREST OF WORLD 5%,4,May 24, 2017,E XCERPTMETHODOLOGY,GENIUS,+140,Digital competence is a pointof competitive differentiation forthese brands. Creatively engineeredmessaging reaches consumers ona variety of devices and in manyonline environments.,GIFTED,110 139,Brands are experimenting andinnovating across site, mobile, andsocial platforms. Digital presenceis consistent with brand image andlarger marketing efforts.,AVERAGE,90 109,Digital presence is functional yetpredictable. Efforts are oftensiloed across platforms.,CHALLENGED,70 89,Limited or inconsistent adoptionof mobile and social media platforms.Sites lack inspiration and utility.,FEEBLE, 70,Investment does notmatch opportunity.,SITE & E-COMMERCETechnology & Interactivity:Load Time, Analytics, Video & Content,Integration, Guided Selling Tools,Navigation & Store Locator:,Product Search, Sorts Store Locator SophisticationProduct Pages & Customer Service:Product Merchandizing, Store Visit /E-Commerce Drivers, Cross-Selling,Contact Information / Live Chat,Site E-Commerce:,DTC Commerce (Ease of Checkout, MobilePayment Support, Logistics & Returns),Concierge Selling, E-Tailer HandoffCustomer Account:CRM Functionality, Loyalty Reward Systems,Online Authentication, Product Customization,QR Code for WeChat / Brand AppsE-Tailer Optimization (where applicable): Visibility, Assortment Tmall, JD.com, Yoox, FarfetchCLASSIFICATION,DIGITAL MARKETINGBrand Search:SEO & SEM, Visibility,Category Search:,SEO & SEM Across 100+ Category Keywords,Web Advertising:Display (Source: Adbug)Community Sites:Mentions and Brand Activity on RelevantVertical Sites (Dealmoon, OnlyLady, Yoka,Xbiao, iwatch365),Earned Media:Search Volume on Baidu, BrandImpressions on Weibo & WeChat,SOCIAL MEDIAWeibo:Reach, Relative & Absolute Engagement,WeChat:,Reach, Engagement, Growth, Functionality,Content, WeChat Commerce, Loyalty ProgramsVideo:Youku: Reach, Video Views,Store Locator & Geolocation, Load Time,Mobile Search:,Brand Visibility on Branded & UnbrandedKeywords, Mobile Search Volume on BaiduMobile Advertising:In-App Advertising (Source: Adbug),Mobile Web Advertising,Mobile Apps (where applicable):Branded App on iOS & Android (Language,Support, Update Velocity, App Ratings)Mobile Earned Media:UGC & Brand Followers on Nice, In,and Xiaohongshu (RED),30%,25%,25%,MOBILE20%Smartphone:Compatibility & Functionality, Commerce,2,3,1,1,3,2,1,3,2,5,May 24, 2017,E XCERPTLUXURY CHINA 2017,1152,RANKGENIUS,Burberry Group,2147,3139,4136,5135,Richemont,Coach Inc.,LVMH,Kering,TOP 5 PERFORMERS,INDEX AVERAGE,SITE & E-COMMERCE1 Product Page & Customer Service2 On-Site E-Commerce & Concierge Services3 Official E-Tailer ScoreDIGITAL MARKETING1 Baidu Search2 Web Advertising & Community Sites3 Brand BuzzSOCIAL MEDIA1 Weibo2 WeChat3 VideoMOBILE1 Mobile Site2 Mobile Search3 Mobile Buzz,1,2,3,RANKGIFTED,RANKGIFTED,RANKGIFTED,RANKGIFTED,GIFTED,AVERAGE,6,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,FLASH OF GENIUS,RANK,BRAND,DIGITAL IQ,6,Chow Tai Fook Enterprises,133,7,Chow Sang Sang Group,132,7,Richemont,132,9,LVMH,130,9,Valentino Fashion Group,130,11,LVMH,129,12,Swarovski AG,126,RANK,BRAND,DIGITAL IQ,13,Chanel,120,13,Michael Kors Inc.,120,13,Tiffany & Co.,120,16,Richemont,116,17,LVMH,114,17,Richemont,114,17,The Swatch Group,114,RANK,BRAND,DIGITAL IQ,17,Richemont,114,21,Richemont,113,22,PVH Corp.,112,22,PVH Corp.,112,24,Pandora,109,25,Shanghai Zbird,Diamond Co., Ltd.,108,26,Giorgio Armani,107,7,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,FLASH OF GENIUS,RANK,BRAND,DIGITAL IQ,27,LVMH,106,27,Prada,106,29,Hugo Boss AG,105,29,Richemont,105,31,Dolce & Gabbana,Luxembourg,104,31,Tory Burch,104,33,Gianni Versace,103,RANK,BRAND,DIGITAL IQ,34,Coach Inc.,102,35,De Beers Group,100,35,Salvatore Ferragamo,100,37,Shenzhen Bloves,Diamond Co., Ltd.,99,38,LVMH,98,38,Maus Frres SA,98,38,LVMH,98,RANK,BRAND,DIGITAL IQ,41,The Swatch Group,95,42,FF Group,94,42,Prada,94,42,Sungjoo Group,94,42,Tods,94,42,Richemont,94,47,Richemont,92,CHALLENGED,8,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,FLASH OF GENIUS,RANK,BRAND,DIGITAL IQ,48,Hermes International,90,48,Rolex,90,50,Audemars Piguet,89,50,De Beers Group,89,52,Luk Fook Group,88,52,LVMH,88,54,Citizen Watch Co., Ltd.,87,RANK,BRAND,DIGITAL IQ,55,Kering,86,56,The Swatch Group,85,56,Kering,85,58,Jab Holding Co.,84,58,LVMH,84,60,Jab Holding Co.,83,61,Alexander Wang, Inc.,82,RANK,BRAND,DIGITAL IQ,62,Chopard,80,62,Samsonite International S.A.,80,64,Furla S.p.A.,77,65,Kering,75,65,LVMH,75,65,Moncler S.p.A.,75,68,Fossil, Inc.,72,FEEBLE,9,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,FLASH OF GENIUS,RANK,BRAND,DIGITAL IQ,68,The Swatch Group,72,70,Richemont,71,70,Ermenegildo Zegna,71,70,The Swatch Group,71,70,Ralph Lauren Corporation,71,74,Kering,69,74,Kate Spade & Company,69,RANK,BRAND,DIGITAL IQ,76,Rolex,66,77,Tumi Holdings, Inc.,65,78,LVMH,64,79,Richemont,63,79,Richemont,63,79,LVMH,63,79,Trollbeads A/S,63,RANK,BRAND,DIGITAL IQ,83,Patek Philippe & Co.,55,84,Kering,52,85,K. Mikimoto & Co.,50,86,LVMH,47,87,Max Mara Fashion Group,45,88,Apax Partners Worldwide LLP,25,89,Citizen Watch Co., Ltd.,15,10,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,Source: L2 Digital IQ Index: Luxury China, May 2017.,Luxury China: Adoption of E-Commerce Channels YoY,n=40 Fashion Brands, n=36 Watches & Jewelry Brands in All Three Studies, 2014 2016 2017,E-Commerce Continues to Rise,Although most Luxury sales in China remain offline, e-commerce is growingsteadily. Nine percent of apparel and 5 percent of watch purchases are nowmade online, both up from 1 percent in 2010.4 While Luxury brands have beenslow to adopt e-commerce for fear of losing prestige, an increasing numberhave recognized that digital distribution channels are a crucial component of asuccessful commerce strategy in China. Only 9 percent of Fashion brands todayhave no e-commerce offering, a 57 percent decrease from 2016.4. “Luxury Goods in China ,” Euromonitor, November 2016.,Direct-to-consumer (DTC) e-commerce and WeChat commerce increasedsignificantly between 2014 and 2017. In 2014, only 20 percent of Fashion brandsand 14 percent of Watches & Jewelry brands had DTC e-commerce. Today,that share has risen to 40 percent of Fashion and 38 percent of Watches &Jewelry brands in this years Index.In the last year, Luxury brands have also turned to WeChats closed, one-to-one ecosystem to experiment with selling limited products, often in limitedquantities. Six percent of Fashion brands and 14 percent of Watches & Jewelrybrands in this years study now operate a WeChat store, and IWC Schaffhausenand Cole Haan only offer DTC via their WeChat stores.,14%,22%,33%,5%,23%,20%,FASHION,FASHION,FASHION,WECHAT STORE,TMALL STORE,20%,33%,DTC-ENABLED BRAND SITE43%,14%,17%,22%,WATCHES & JEWELRY,WATCHES & JEWELRY,WATCHES & JEWELRY,N/A,0%,5%,3%,N/A,14%,Flipboard,WeChat,Sina Weibo,vine,youku,Skype,Baidu,tmall,WAZE,BAIDU INDEX GROWTH PERCENT,BAIDU INDEX GROWTH PERCENT,VACHERON CONSTANTIN,CHOW TAI FOOK OMEGA,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,Source: L2 Digital IQ Index: Luxury China, May 2017.,Luxury China: Fashion Brand Term Search VolumeBaidu Index for Chinese & English Brand Term Searches vs. YoY GrowthMarch 2017, n=46 Brands in Both Studies Accessible Luxury Pure Luxury,Luxury China: Watches & Jewelry Brand Term Search VolumeBaidu Index for Chinese & English Brand Term Searches vs. YoY Growth,March 2017, n=41 Brands in Both Studies, Absolute Aspirational Accessible,Baidu IndexWith Chinese Luxury tastes constantly in flux, the Baidu Index can helpcompanies monitor the markets pulse to determine which brands andtrends are popular or gaining buzz. While the list of top 10 brands by,Baidu Index rank has remained relatively unchanged since last year inboth the Fashion and Watches & Jewelry sectors, more than half of thetop 10 brands based on search volume growth have changed year overyear in both categories.Burberry and Prada are the only two new Fashion brands in the top10 for Baidu Index rank, while Bulgari is the sole brand to break into thetop 10 for Watches & Jewelry. Top accessible Luxury brand Coach rankssecond overall for Fashion thanks to its sophisticated use of celebrities,key opinion leaders (KOLs), and digital to cultivate relationships withChinese consumers. Moving from fifth place for total search results last,year, Coach netted double-digit growth in China in 2016.Only three Fashion brands (Loewe, Tory Burch, and Furla) and fourWatches & Jewelry labels (Rolex, Tudor, Zbird, and Mikimoto) maintained,enough buzz to remain on the top 10 list for search volume growthtwo years in a row. Loewes Puzzle Bag was the “it” bag for ChineseFashionistas last year, while its animal-inspired bags saw success among,younger demographics. Tory Burchs growth in the region continued; thebrand now has 19 stores in China which now represent 30 percent of its,global business. Brands new to the top 10 list for search volume growthgenerated buzz in a variety of ways. This years fastest-growing Watches& Jewelry brand, Folli Follie, launched a series of online-to-offline (O2O)UGC social campaigns and has expanded its line to include childrensclothing. Jaeger-LeCoultre has enlisted ambassadorsfrom the traditional,(e.g. actress Zhao Wei) to the non-traditional (e.g. video blogger PapiJiang)in an effort to boost its digital presence in the region.Only two brands were buzzworthy enough to rank among the top 10brands by Baidu Index rank and search volume growth: Dior in Fashion,whose WeChat flash sale generated significant buzz, and Rolex inWatches & Jewelry.,*Note: Saint Laurent is excluded from the chart.Source: L2 Digital IQ Index: Luxury China, May 2017.,BAIDU INDEX (6-MONTH AVERAGE),DIORARMANI8K,CHLOFERRAGAMOTORY BURCHVERSACEPRADACALVIN KLEIN6K,LOEWECLINETODS4K,Average Baidu Index: 3,951Average Baidu Index Growth: 18%LOUIS VUITTONCOACHGUCCIHERMSCHANEL10K 12K 14K,80%DUNHILL60%HUGO BOSS40%FURLA20%0% STUARTWEITZMAN-20%MICHAEL KORS-40%0K 2K,BAIDU INDEX (6-MONTH AVERAGE)11,Average Baidu Index: 3,101Average Baidu Index Growth: 29%,LONGINES12K,PATEK PHILIPPETIFFANY & CO. TISSOT CARTIER,JAEGER-LECOULTREZBIRD,80%ZENITH30%-20%BULOVA-70%0K,230%FOLLI FOLLIE180%TUDOR130% HARRY WINSTONDE BEERS,AUDEMARS PIGUET ROLEXMONTBLANC SWAROVSKIFOREVERMARK2K 4K 6K 8K 10K,12,May 24, 2017,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,Luxury China: Social Media Adoption and GrowthPercentage of Brands Present on Select PlatformsMay 2014February 2017, n=75 Brands 2014 2016 2017,Weibo vs. WeChatWeChat and Weibo retain their status as top social platformsin China, with almost all of this years benchmarked Luxurybrands on both platforms. While adoption is widespread, a,handful of holdouts remain. Cline and Patek Philippe are onneither platform, Kenzo is only on Weibo, and Rolex and Tudor,focus solely on WeChat.Youku, however, is losing favor among Luxury brands, withits adoption rate down 16 percent year over year. Brands are,moving to increasingly popular short video and livestreamingplatforms. The average views per Youku video are down by85 percent year over year. Despite this decline, 22 percentof brands are advertising on Youku this year, up 17 percent.Some brands, such as Cartier, are still finding success on,Youku. The brand enlisted celebrity Lu Han to promote itsJuste un Clou collection in a 45-second ad that received over,10 million views on Youku, more than twice the number of,Source: L2 Digital IQ Index: Luxury China, May 2017.,views of any other Index brand video.At the end of Cartiers Lu Han adon Youku, users were given a QRcode that led them to an interactive360-degree mobile video showingbehind-the-scenes footage fromthe video shoot.,2017 OVERALLINDEX ADOPTION,65%,76%,69%,85%,95%,95%,95%,96%,85%,52%,96%,97%,13,E XCERPTLUXURY CHINA 2017,INTRODUCTION,RANKING,SITE & E-COMMERCE,DIGITAL MARKETING,SOCIAL MEDIA,MOBILE,Ralph Laurens store locator allows users toselect a specific label and is accessible via themobile site header, but it does not pinpointinternational locations.,Rimowas mobile websiteis not fully translated intoChinese and does notalways display optimally.,Patek Philippe offe