Building trust through a deeper understanding of cultural practices, language, and service
With the growth of China’s economy, appreciating RMB currency value, unprecedented levels of Chinese tourism, more Chinese students studying abroad than ever before and a growing desire to export money and assets, overseas investment and spending from Chinese individuals is at an all time high, and is predicted to continue to increase.
However, Chinese individuals view investments and spending from a very different lens than in the West, which requires lifestyle companies to completely rethink the way they position, market, price and build loyalty with this extremely powerful consumer base. Chinese individuals view much of luxury spending as investment driven, rather than purely for appreciation or enjoyment. And Chinese individuals invest in what they know: real estate, wine, art, watches and jewelry, leisure and luxury goods.
China Luxury Advisors, Jing Daily and China Luxury Network have partnered to host a symposium to provide luxury brands, service providers and financial institutions with strategic and tactical recommendations for attracting lifestyle investment and spending among China’s rapidly changing class of luxury consumers.
The symposium will take place on May 16th at the AW Asia Organization. Selected members of the media will be in attendance.
Please note that there are two separate sessions. The morning session is focused on Understanding the Chinese Investment and Spending Mentality and the afternoon session is focused on Selling the Lifestyle and specific lifestyle investment categories.
Morning Session: Understanding Chinese Spending Mentality
08:30 Registration and coffee
09:00 Exporting Capital
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.
9:45 Chinese Investment and Spending Preferences
Chinese individuals have extremely different preferences and criteria, and approach investment and spending decisions in different ways than other cultures and countries. The panel examines Chinese investment and spending preferences and perspectives, including asset class preference, trust and attitudes towards risk and return.
10:45 The Role of Children
Children are highly valued in Chinese culture, and are often the underlying motivation behind most family spending and investment decisions. So much so that second generation wealthy children are increasingly making lifestyle purchase decisions themselves, as they anchor the family’s overseas lifestyle presence. Many luxury brands are finding this consumer group to be among their best worldwide.
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. In order to predict the ripple effects, you need to understand why and where the stone is thrown.
12:00 Lunch Keynote: Relationship Management with Chinese Customers
Afternoon Session: Selling the 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.
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.
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.
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 consumer’s begin to expand their wine influences outside of the Bordeaux region.
Chinese consumers are increasingly hungry for lifestyle experiences that demonstrate their VIP stature as well as provide new pastimes, including golf, yachting, private jets and other lifestyle investments. We will examine trends in lifestyle investment, opportunities for future growth and Chinese purchase criteria.
6:15 Cocktails and Networking
Guests from prior events include:
- General Manager, Bergdorf Goodman
- President, Piaget
- Associate VP, L’Oreal
- Director of Marketing, The Peninsula
- Marketing Director, Harry Winston
- Global Sales Director, United Airlines
- Marketing Director, Mandarin Oriental
- Digital Director, Richemont
- e-commerce Director, Bottega Veneta
- Director North American Marketing, Estee Lauder
- Travel Retail Marketing Director, Estee Lauder
- Digital Director, Coach
- Director of Marketing, Lancome
- Strategic Sales Director, Tiffany & Co.
- Business Development Director, Royal Asscher
- Director of Sales and Marketing, Hotel Athenee
- Director, International Marketing and Tourism, Bloomingdales
- Marketing Director, Sotheby’s Auction House
- SVP Brand, Tumi
- Digital Director, J. Mendel
- Marketing Director, Chanel
- Owner, Hinckley Yachts
- Director of International Marketing, Bloomingdales
- Director of Relational Marketing, Gucci
- Head of Communications, Net-A-Porter
- Client Services Director, Burberry
To register for this event and receive a special 20% discount, please click here and enter promo code “AffinityChina”