Win the most important consumer in a generation
It is difficult to find any consumer brand that is not at least considering the potential to sell to Chinese consumers -- either by entering China's domestic market or targeting the hordes of wealthy Chinese shopping and traveling overseas. In the luxury industry, interest is even stronger. One need only walk down 5th Avenue or Rodeo Drive to notice the number of Chinese shoppers and attentive Mandarin speaking sales associates in the boutiques to greet them. With more than 50% of Chinese luxury purchases being made abroad -- these shops are getting it right.
But simply opening your door to Chinese customers is not enough to build success. The consumer has wildly different preferences and characteristics, and luxury brands need to first understand the underlying motivations behind consumer preferences and decisions before they can hope to monetize this lucrative customer group.
Jing Daily, China Luxury Advisors and China Luxury Network are hosting a seminar on Wednesday May 16th in New York to provide luxury brands with greater context and understanding of this emerging and rapidly changing consumer group.
The event will include:
- An overview of the Global Chinese consumer opportunity by Michael Zakkour, Technomic Asia
- Insights into the Chinese luxury consumer by Professor Pierre Xiao Lu from Fudan University and author of "Elite China, Chinese Luxury Consumers” and “Luxury in China, Market Opportunities and Potentials”
- Insights into the overseas Chinese student community with a Chinese student panel moderated by Sage Brennan of China Luxury Advisors
- Trends in the real estate market with Sotheby's International Realty brokers
- An overview of the current demand for fine art by Michael Plummer of Artvest
- Experiences with the China opportunity with Royal Asscher diamonds
- Tales from wine trips and experiences with Simon Cousins of Illuminant
- Real life experiences with Chinese affluent travelers with Affinity China
- Pierre Xiao Lu, Professor of Marketing at Fudan University in Shanghai, and Visiting Professor of Marketing at LVMH Chair in ESSEC Paris
- Michael Zakkour, Principal Technomic Asia
- Kevin Brown and Nikki Field, Sotheby's International Realty
- Michael Plummer, Principal and Co-Founder of Artvest Partners
- Simon Cousins, CEO of Illuminant
- Kim Hoedeman, Royal Asscher
- Christine Lu, CEO of Affinity China
- Chiu-Ti Jansen, Publisher, YUE Magazine
- Panel: Chinese Students in America
Who Should Attend?
- Luxury brands and retailers interested in learning more about marketing and acquiring Chinese outbound customers
- Hospitality providers seeking to better understand the global Chinese consumer
- Service providers such as real estate, education, tourism and others who are seeking to attract global Chinese consumers
- Investment advisors and alternative asset investment class professionals, including those in the art, wine, gem and leisure sectors
- Anyone interested in better understanding the underlying motivations behind Chinese luxury purchase decisions
- Students interested in learning more about luxury and Chinese consumers *(Contact firstname.lastname@example.org for information on student rates)
Please note that there are two separate sessions. The morning session is focused on Understanding the Wealthy Chinese shopper mindset and the afternoon session is focused on Selling the Lifestyle and specific lifestyle categories.
Morning Session: Understanding Chinese Spending Mentality
08:30 Registration and coffee
09:00 Understanding the China Luxury Opportunity
Three paraidgms and four keys that have led us to the Global Chinese consumer opportunity.
Michael Zakkour, Principal, Technomic Asia
9:45 Overseas Spending
More and more wealthy Chinese individuals and business leaders are moving their assets overseas. We will examine this trend and how, why and when wealthy Chinese are increasingly moving assets outside of China, what they are buying and how they are adapting and making purchase decisions.
Renee Hartmann, China Luxury Advisors
10:30 Chinese Investment and Spending Preferences
Professor Pierre Xiao Lu, Professor of Marketing at Fudan University in Shanghai, visiting professor of marketing at LVMH Chair in ESSEC Paris. Author of "Elite China, Chinese Luxury Consumers” and “Luxury in China, Market Opportunities and Potentials”.
Chinese individuals have extremely different preferences and criteria, and approach investment and spending decisions in different ways than other cultures and countries. Professor Pierre Xiao Lu examines Chinese investment and spending preferences and perspectives in the luxury industry.
11:15 The Stone in the Pond: Education as a leading indicator for lifestyle investment
Chinese overseas investment is a ripple effect. Typically the stone in the pond that sets off the ripple is education. 90% of wealthy Chinese want to send their children overseas for education. This is the foundation for all other spending and many luxury brands are finding this consumer group to be among their best worldwide. In order to predict the ripple effects, you need to understand why and where the stone is thrown.
Panel of Chinese students and recent graduates studying in the US. Gain perspective from this highly valuable audience by interacting with a panel of current Chinese students and recent grads living in the US.
Moderated by Sage Brennan, China Luxury Advisors
Afternoon Session: Selling the Luxury Lifestyle
1:00 Real Estate
Real estate is a natural asset class for Chinese investors, and perhaps the most popular class for exporting assets overseas. We examine criteria for purchase, hotspots, trends and predictions for future directions in real estate investment.
Sotheby's International Real Estate brokers share their experience with this unique and growing real estate customer.
Nikki Field, Senior Vice President, Associate Broker
Kevin B. Brown, Senior Vice President, Associate Broker
Art collection and investment has been a very lucrative field for Chinese investors, and as interest is expanding outside of Chinese art to broader categories, the opportunities in the art industry multiply. The panel explores the trends among Chinese buyers, opportunities for future growth and challenges associated with the China art market.
Avery Booker, Editor, Jing Daily
Michael Plummer, Principal and Co-Founder, Artvest Partners
Gems, jewelry and watches all present unique opportunities for hard asset investments that also convey the investor’s status. We will examine the outlook for watches and jewelry spending from Chinese consumers and the criteria for collecting, investment, gifting and appreciation.
Kim Hoedeman, Royal Asscher
From purchasing real estate in Bordeaux to bidding up prices of Chateau Lafite, Chinese investment in the wine industry is rapidly expanding. The panel examines opportunities in the wine industry as consumers begin to expand their wine influences outside of the Bordeaux region.
Simon Cousins, Illuminant
5:15 Travel & Leisure
Tourism from China to the United States is ramping up for a threefold increase. With more than 50% of Chinese luxury purchases being made abroad-- and some brands harnessing up to 30% of their home country revenue from Chinese tourists -- engaging Chinese travelers is an operational imperative for prestige brands.
We will examine trends in outbound travel and leisure and provide suggestions for brands looking to tap into this extremely lucrative market.
Christine Lu, CEO Affinity China
Chiu-Ti Jansen, Publisher YUE Magazine
6:15 Cocktails and Networking
Pre-release barrel tasting of Yao Ming's upcoming Napa Valley Cabarnet.
Guests from prior events include:
For sponsorship information, please contact Renee Hartmann at email@example.com.
China Luxury Advisors counsels luxury brands on their China consumer strategy, ranging from market entry to digital to attracting, converting and retaining Chinese luxury travelers.
Jing Daily looks at the intersection of luxury and culture in China: the ins and outs of business development there with an eye toward the upscale consumer market, as well as the business of culture — from auctions, museums, and contemporary art to performance, public events, and more.
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