What could make shoppers switch to another luxury brand

Chinese consumers give emphasis on whether the brand is aligned with their identity.

The leading factor that could drive Chinese shoppers to switch to another luxury brand is the brand’s better alignment to their unique identity and personality (25%), KPMG reported.

Around 23% and 20% cited they will switch if the brand is better aligned with their values in social ethics, and sustainability, respectively. The report surveyed 2,653 respondents across eight key cities in China.

Shoppers also consider whether the brand provides better digital engagement and social connection (19%), and recommendations by friends and family (14%) amongst others.

“Given the rapid rate of evolution of Chinese consumers and increasing adjustments towards global values, we expect there to be a shift in perception towards these ideals eventually, and when that happens, brands need to be able to adapt quickly,” Pablo Mauron, Managing Director of Digital Luxury Group, said.

“This is especially so as China intends to reach peak carbon emissions by 2030 and achieve carbon neutrality in 2060.”

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KPMG

China Luxury Market

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