Bomoda Releases "2015 China Luxury Blueprint"

NEW YORK, May 6, 2015 /PRNewswire/ -- Bomoda, a leading consumer intelligence company, today released the inaugural edition of its Blueprint series. The 2015 China Luxury Blueprint explores the impact of all forms of marketing activities on global Chinese consumer spending and provides a new approach to figuring out the Chinese luxury marketplace by leveraging data in unique and powerful ways. The output enables companies and brands to gain a strategic understanding of the factors that influence the global Chinese consumer's decision-making process.

The key findings within the report are drawn from over 1.25 million curated data points on the top 50 luxury brands with a presence in China, as well as a survey conducted with 2,200 high-end Chinese consumers. The report explores the impact of marketing activities such as media spend, search optimization, Mandarin-language localization and social media engagement on Chinese consumer spending. It also provides a holistic overview of Chinese consumer behaviors and purchasing patterns and empirically demonstrates how to successfully achieve key business outcomes.

"Surprisingly, many global luxury brands still don't fully grasp the power and influence of the Chinese consumer on their bottom line," said Co-founder and CEO of Bomoda, Brian Buchwald. "Our findings show how a brand's success in the Chinese market will echo across the globe. We're seeing luxury brands like Chanel recognizing and reacting to that phenomenon, and hope others will see our Blueprint as a road map to similar success in this market."

According to the report:

• Chinese consumers who search for a brand's Chinese name are 34 percent more likely to buy for authenticity rather than price.

• Chanel is the most prominent luxury brand in the eyes of Chinese consumers. It has the highest level of brand awareness (84 percent). 50 percent of respondents have previously purchased Chanel.

• Relative to its American peers, Tory Burch is viewed much more favorably as a luxury brand than Michael Kors or Kate Spade, which are ranked near the bottom.

• Despite being the eighth most purchased brand, Coach is the single most effective at converting Chinese prospects into purchasers.

Bomoda's 2015 China Luxury Blueprint also contains many surprising observations. For instance, if a brand engages too much with Chinese consumers on certain Chinese social media sites, this may backfire and negatively impact the brand's sales potential. This finding runs counter to a practice that is commonly and effectively used by these same luxury brands in the West to boost sales. Another finding is that brands looking to increase brand perception should work with online fashion influencers. However brands looking to directly impact purchase behavior should eschew fashion influencers and instead partner with well known models.

The Bomoda 2015 China Luxury Blueprint is available immediately for companies who want to better understand the luxury industry and its relationship with the Chinese consumer. For more information, visit www.bomoda.com.

About Bomoda
Bomoda helps brands connect the dots. Using a proprietary mix of data science and human curation, Bomoda provides leading global brands a new level of transparency into what drives consumer behavior. Bomoda is currently focusing on the global Chinese consumer. Bomoda's solutions include exclusive consumer intelligence products, strategic services and content marketing. Based in New York City and Shanghai, Bomoda has worked with over 100 premier global fashion, beauty, e-commerce, airline, automotive, and hospitality brands. To learn more, please visit www.bomoda.com.

Media Contact: North 6^th Agency (For Bomoda)
212-334-9753, [email protected]

SOURCE Bomoda

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http://www.bomoda.com

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