Famous brands are losing their star status in China, as preferences of consumers shift, tells retail analyst Shaun Rein at Adage, in its 2014 of changing consumer trends in China.
Adage:
“Logo fatigue” has set in among China’s consumers. Two brands known for insignias on their products, Louis Vuitton and Gucci, are “moving away from logos and trying to be more discreet in their designs,” said Shaun Rein, founder of Shanghai-based China Market Research Group.
“The problem is both of those brands still have a lot of people toting bags with those logos on them,” he said. “The peasant who bought an LV bag three years ago is still going to be toting it for the next eight years.”
Mr. Rein cites Burberry, Coach, Miu Miu and Tiffany as strong performers in China. Brands have had success targeting “younger women, who are the most optimistic consumers right now,” he said.
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