lvmh q2-2017jing daily x carat report how to impress chinas mass affluent males_W

1、MANY THANKS TO KEY CONTRIBUTORS:Genevieve Tan, Associate Director, Convergence Planning, Carat Rain Huang, Research Director, Strategy & Innovation, CaratThe dramatic boom in Chinas economy in the last decade has resulted in the growth of the largest group of mass affluent class ever. With this new

2、change, brands grapple to understand thisincreasingly sophisticated group. Carats latest report on Chinas mass affluent class males (M.A.C males) gives us a glimpse of who they are, their perception on entrepreneurship and how they make an impression today.COMPARISON BETWEEN NEW & OLD AFFLUENTMALES7

3、2%37%University Degree & Above979%Own private property76%Prefer Living in Tier 1 Cities68%New Affluent MalesOld M.A.CMalesThis new generation of M.A.C males between 25 and 40 years old, are different from their past generation counterparts. Having everything handed to them on a silver platter, with

4、higher education and more internationalexposure, Chinas M.A.C males have become more sophisticated and refined. They seek experiential leisure activities centered on their personal enjoyment, such as traveling, swimming and leisure driving as compared to the more status- based activities, such as go

5、lf, a preference enjoyed by previousgenerations.SHARE OF MONTHLY HOUSEHOLD INCOME (RMB)2%1%200020102020ePoorValue(34000)36%51%36%7%6%82%10%63%36%ESTABLISHEDLOUD & SHOWYSOPHISTICATED & REFINEDASPIRATIONALIt would be erroneous to assume that allM.A.C males are the same. Carats report divides them into

6、 five groups namely Aficionados, Skeptics, Epicureans,Aspirants and the Bling Kings. These five groups vary across the spectrum in terms of level of sophistication and how established they are. Aficionados and Epicureans are connoisseurs of style and fashion, always willing to experimentwith new sty

7、les and technology. Aspirants and Bling Kings are more spontaneous and love to be in the limelight.For Aficionados and Epicureans, entrepreneurship is about being unique, visionary and making peoples lives easier. Aspirants and Bling Kings on the other hand believe that entrepreneurship should be mo

8、re about intuition and leveraging the right opportunities.SWIMMING+380%ROCK CLIMBING+124%CAR RACING+103%FISHING+91%LEISURE DRIVING+338%GYM+302%CAF/BAR+147%DINING OUT+118%4All five groups are in agreement that it is not just about making money but about making lives more convenient. For them, key are

9、as of interest topics within entrepreneurship includes IoT, IoV, e- commerce, O2O and cross-industries development. Social entrepreneurship is an unfamiliar concept to them and often riddled with misconceptions. Social entrepreneurship is often confused with NGOs, environmental protection and charit

10、ies.for the highly sophisticated Aficionados, Skeptics and Epicureans.They seek out content directly related to their industry of interest instead of“entrepreneurship” as a topic. They demand details, substantiated opinions and are not satisfied withovergeneralized content. Search engines are their

11、gateway to these more in-depth information and clarifications. Mobile is their preferred platform for day-today quick information and discussions.Immediacy, personalization and O2O are increasingly expected as a norm.M.A.C males consume entrepreneurship content directly from famous and established i

12、nternational and local Chinese business and tech entrepreneurs who they are most familiar with such as Elon Musk, Mark Zuckerberg, Jack Ma and Li Kai Fu. These affluent males actively rely on their digital devices but have low susceptibility to ads specificallyM.A.C males place a lot of trust on a v

13、ery close knit group of peers and associates for opinions and thought leadership in order to form their own perspective.TOP 10 TV PROGRAM GENRES WATCHED IN THE PAST YEAR60400300402002010000Biz News & TechSerialsFilmSportsTopical Issues Live Game EntertainmentLegalWeatherFinancingDocumentaries (Sport

14、s)VarietyReach (%)AffinityTOP 10 INTERNET VIDEO GENRES WATCHED IN THE PAST YEAR1008060402006004002000FilmSerialsBiz News & TechMusicSportsFoodGameCarTravelingFinancingReach (%)Affinity5Brands need to break into tight knit groups through content exchanges with respected and established entrepreneurs

15、in order to capture their attention. They should inspire them through people they look up to and showcase details on how they can apply these learnings into their own ambitions. Service platforms provide an opportunity to break into and build relationships by first starting from M.A.C males most tru

16、sted inner circle.Providing exclusive money-cant-buyexperiences for M.A.C males and their peers, giving them a chance to impress, is another way of drawing them out.detailed knowledge in an interest or hobby.Aficionados and Epicureans are more discerning, they listen and observe before they converse

17、 to impress through business or lifestyle conversations. Brand communications have since shifted to highlight craftsmanship and heritage over bling. This is done with the aim of creating brand appreciation through storytelling with substance to captureM.A.C males attention.“Impress” as a concept has

18、 shifted away from a blatant show of status and wealth to one of sophistication, intelligence and influence. The aim of making an impression is to obtain admiration, respect and at the same time be trendsetting. This is done by making a good impression, being fluent in multiple languages, showing in

19、terest in cultured lifestyle activities and showcasing67Aspirants and Bling Kings try to impress by starting conversations about themselves and their experiences. Their consumption driven lifestyles are opportunities to impress. Occasions to party are both ad hoc and planned, with WeChat becoming th

20、e ecosystem critical to their party regiment and a platform to showcase their experiences and influence. Providing exclusive content or experiences allows new M.A.C males to gain bragging rights about the first-to-know.Overall, the days of simply flashing ones brand in front of the new generation M.

21、A.C male is over. With their increasing demands for substance and sophistication, brands need to shift much more into engagement in order to be part of the storyline.LAUNCHED IN 2009, JING DAILY IS THE LEADING DIGITAL PUBLICATION ON LUXURY CONSUMER TRENDS IN CHINA. PROFESSIONALS SEEKINGTOUNDERSTANDC

22、HINAS COMPLEXANDRAPIDLYEVOLVING LUXURY INDUSTRY LOOK TO JING DAILY FOR FRESH AND ACCURATE INSIGHTS. WE PUBLISH UP-TO-THE-MINUTE NEWS UPDATES, REPORTS ON KEY TRENDS, INSIGHTS FROM LEADING INDUSTRY FIGURES, AND IN-DEPTH ANALYSIS ON THIS VITALLY IMPORTANT MARKET. JING DAILY IS REGULARLY QUOTED AS A TRUSTED INDUSTRY VOICE ON THE NEW YORK TIMES, INTERNATIONAL HERALD TRIBUNE, WASHINGTON POST, BBC, CNN,