Gamers are increasingly becoming a group of luxury buyers in China, overlapping other segments, says marketing expert Arnold Ma at OZY. “Chinese luxury buyer demographics overlap with hobbies normally associated with a younger audience, such as gaming,” Arnold Ma says.
OZY:
McKinsey & Company reports that the luxury market is driven by the post-1980s generation with an average annual spend of $5,900 (RMB 41,000) and consumers born after the 1990s, who spend, on average, $3,600 (RMB 25,000) a year. A separate report by the Boston Consulting Group suggests that 78 percent of China’s luxury consumers are under 35.
In keeping with global trends, women account for a majority — 71 percent — of China’s luxury spending. But they also form 58 percent of the country’s 484 million-strong gaming population. In addition, two-thirds are between 19 and 35 and are generally middle and upper-middle class.
“Chinese luxury buyer demographics overlap with hobbies normally associated with a younger audience, such as gaming,” says Arnold Ma, CEO of digital creative agency Qumin. “A combined social content and gaming strategy for brand campaigns will not only have the most reach, but more importantly provide a far more authentic message to Chinese luxury buyers.”
Arnold Ma is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
Are you looking for more experts on luxury goods at the China Speakers Bureau? Do check out this list.
