Young consumers in China are redefining luxury marketing. The game of luxury goods in China is changing, and the industry is going straight for Gen Z. While many brands decreased prices and increased discounts during the pandemic, it left Gen Z and Millennials in China feeling annoyed and forgotten because they want to invest in expensive, high-quality pieces. When Nike and Dior created their limited-edition Air Dior line and Hermès teamed up with Apple for the Hermès Apple Watch, sales boomed because the brands invigorated an audience that’s overlooked when it comes to luxury (hint: Gen Z and Millennials). Hermès is continuing their collaboration with Apple to reach digital natives in China who value high fashion, and the brand is reaching a larger audience of eager consumers because of it. Now, Louis Vuitton is tapping K-Pop stars BTS to boost appeal among young consumers, and it’s exactly the type of experience the generation is looking for from brands. (South China Morning Post)
