Revenge shopping and getting personal
In this article (5)
Shanghainese women purchasing luxury goods in the post-Covid-19 era are making conscious choices in consumption – with a tendency towards revenge shopping amongst younger buyers.
The insights were revealed in new research by local luxury intelligence agency Gusto Luxe. The firm’s latest report analyses trends in luxury shopping among Shanghai’s women, highlighting several factors with implications for how brands should position and communicate in the market.
“It’s fascinating to understand the deep impact of the pandemic on Chinese luxury consumers, said Gusto Intelligence research director Lee Folland. “It also offers opportunities for brands to further explore how Chinese luxury consumers expect a specific category and brand to engage in this new environment.”
For the survey, Gusto interviewed 20 women in Shanghai aged between 20 and 55 years old via LookLook Mobile Ethnography (a product of Spark Ideas), all qualified luxury buyers who spent a minimum of US$5000 on jewelry within the past year, of which more than $2000 was on a single item.
According to the data, cooking classes, interior decoration, home improvements, and fragrances are top of mind among Shanghainese women in the luxury market. The women interviewed indicated a desire for more personalization on digital platforms and placed high importance on wellness, beauty and vitality. They have a heightened interest in what brands are doing to minimize environmental and social impacts and exhibit greater pride in Chinese Brands.
For the time being, travel outside of China is not on the cards with the continuing impact of the pandemic.
“From live streaming to the future of private events to how to leverage relationships with SAs, this study unveiled great clues into what luxury buyers truly desire, as seismic shifts are occurring in the luxury retail landscape,” said Spark Ideas founder & CEO Malinda Sanna.
Questions & Answers
Q.What specifically is meant by 'revenge shopping' in this context?
What specifically is meant by 'revenge shopping' in this context?
The article suggests that younger buyers are exhibiting a tendency towards revenge shopping. This term describes conscious choices in consumption made by Shanghainese women purchasing luxury goods in the post-Covid-19 era.
Q.What were the criteria for selecting the women interviewed for this research?
What were the criteria for selecting the women interviewed for this research?
Gusto interviewed 20 women in Shanghai aged 20 to 55 years old. All were qualified luxury buyers who had spent a minimum of US$5000 on jewellery in the past year, with over $2000 spent on a single item.
Q.Beyond luxury goods, what other interests are prominent among these Shanghainese women?
Beyond luxury goods, what other interests are prominent among these Shanghainese women?
The data indicates that cooking classes, interior decoration, home improvements, and fragrances are top of mind. They also prioritise wellness, beauty, and vitality, and desire more personalisation on digital platforms.
Q.What factors are influencing how luxury brands should position themselves in this market?
What factors are influencing how luxury brands should position themselves in this market?
Brands need to consider consumers' heightened interest in minimising environmental and social impacts, and their greater pride in Chinese brands. Personalisation on digital platforms is also a key desire.
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