Sergei Bozhok’s Post

Jing Daily features insights from our CEO Jonathan Siboni, who discusses the shifting patterns of Chinese luxury consumers. According to Bain & Company estimates, in 2023, around 70% of luxury purchases occurred within China, down from 90% during the pandemic, yet still above pre-pandemic figures. However, there's a rising trend in overseas spending, particularly in key luxury destinations like Italy, France, Japan, and Singapore. China's tourism recovery remains quite uneven, casting uncertainty on when outbound luxury consumption might revert to pre-pandemic levels. Oxford Economics predicts that international trips by Chinese travelers will nearly double this year compared to 2023, though this still places travel volumes about 22% below 2019 levels. They anticipate a full recovery by 2025, marking a slower rebound compared to other major global markets. For a more detailed analysis of Chinese luxury consumers' evolving preferences and spending habits, visit Jing Daily to read the full article. 👉 https://lnkd.in/eT756qmP #Luxurynsight #LuxuryTrends #CompetitiveIntelligence #report Jonathan Siboni Floris Pesqué Julien Chiche Louis Dupont Maria Samovarova

While China continues to be a big talking point for many in the industry, it is clear to me - and numerous others - that there are other emerging markets, from India to Vietnam which demand our attention. And attention is what we need to give if we are to make the most of these sites. In this week's blog I am looking at some of the things we must all consider as we look at these new opportunities, and how to approach them. 🛍️The enduring power of classic luxury 🌟Why experience continues to count 🧑🏽🦱Putting our own people first is key 📲Information is king 🙋🏻Focus on youth 🖥️Be easy to engage with - in every area ✂️Never, ever, copy & paste Read more here: https://lnkd.in/erjFNpDq #luxury #india #vietnam #travelretail #evolution

Catch our latest data in Business Insider's article on priorities of Chinese consumers and growing importance of travel and experiences over traditional luxury goods in a post-pandemic world. #LuxuryTrends #TravelAndExperiences #PostPandemicInsights #ChineseConsumers #AgilityResearch #HNWInsights #GenZTrends #WellnessLuxury

The dynamics of the Chinese consumer are shifting — experience now holds greater value than consumption. In his latest article, my esteemed colleague Marco Passoni outlines the need for travel retail and luxury sectors to align with these evolving preferences. Success lies in creating immersive experiences that resonate deeply with the modern Chinese traveller. Please read more below: #travelretail #luxury #China

Data tells us two things right now: Chinese travellers are returning, but this once high-spending demographic of shoppers is not buying like they once did. This presents an issue for both luxury and travel retail, but it is one which can be solved by a shift in mentality and approach from both sectors, argues 2.0 & Partners Senior Executive VP Marco Passoni in this week's blog. As shoppers have evolved, so too must those seeking to negage them, with a shift from consumption to experience - and finding a tailored and personal way to deliver it. Find out what the travel retail and luxury sectors must bear in mind: https://lnkd.in/e5iAd3Bd #China #ExperienceNotSpend #TravelRetail #Luxury

📚 We’re excited to share our latest release from TONG Global, Inside the Minds of Chinese Luxury Travellers 2024: Europe and the UK. Get your copy here: https://wkf.ms/3NGkvjs. Golden Week this year revealed promising signs for brands and investors focused on China’s evolving economy. HSBC reported a 40% rise in outbound trips by affluent Chinese travellers on the first day of the holiday, while Trip.com noted a 30% increase in European travel, with long-haul flights surpassing pre-pandemic levels. Our report explores: 🔎 Emerging trends in Chinese outbound travel for 2024 🔎 Results from our survey of Chinese luxury travellers planning visits to Europe and the UK 🔎 Exclusive insights from an interview on the behaviours and preferences of ultra-wealthy Chinese travellers 🔎 Brand opportunities beyond Golden Week 2024 #chinamarketing #chinesetravellers

What tactics have struck a chord with affluent Chinese travellers? How does targeting this elite group differ from broader travel markets?    Discover the answers and more at our upcoming event:  "Living it Up: Forging Deep Connections Between Southeast Asia’s Luxury Brands & China’s Affluent Travellers" on December 5, 2024, at the InterContinental Singapore: https://bit.ly/40MLPV5   Headlined by Charlene Ree, Founder of EternityX, she will be joined by CYNTHIA L. Head of Business Development and Remy W., Managing Director for Global, for a whitepaper research sharing and a panel discussion titled "Mastering the 3 Es – Elegant, Exclusive, and Expensive". Discover strategies and lessons learned as to how your brand can effectively connect with China’s Elite Travellers segment, including: - Tactics that resonate with affluent Chinese travellers - Differences in targeting this elite group versus broader travel markets - Unique characteristics of affluent Chinese travellers   Secure your spot today: https://bit.ly/40NcSzA   #LuxuryBrands #ChinaTravel #AffluentTravellers

What tactics have struck a chord with affluent Chinese travellers? How does targeting this elite group differ from broader travel markets? Discover the answers and more at our upcoming event: "Living it Up: Forging Deep Connections Between Southeast Asia’s Luxury Brands & China’s Affluent Travellers" on December 5, 2024, at the InterContinental Singapore: https://bit.ly/40MLPV5 Headlined by Charlene Ree, Founder of EternityX, she will be joined by Cynthia Lau, Head of Business Development and Remy W., Managing Director for Global, for a whitepaper research sharing and a panel discussion titled "Mastering the 3 Es – Elegant, Exclusive, and Expensive". Discover strategies and lessons learned as to how your brand can effectively connect with China’s Elite Travellers segment, including: - Tactics that resonate with affluent Chinese travellers - Differences in targeting this elite group versus broader travel markets - Unique characteristics of affluent Chinese travellers Secure your spot today: https://bit.ly/40NcSzA #LuxuryBrands #ChinaTravel #AffluentTravellers

Excited to unveil our latest research on China’s Elite Travellers! 📖🌟 This exclusive whitepaper highlights: • What works when targeting affluent Chinese travelers • Distinct differences between this segment and the broader market • Characteristics that make this group so unique Looking forward to sharing these findings with you all and feel free to PM me if you’d like a copy of the full research report after the event😉 #TravelMarketing #ChinaMarket #LuxuryTravelMarketing

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐟 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐞𝐭𝐚𝐢𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: 𝐑𝐢𝐬𝐢𝐧𝐠 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐓𝐫𝐚𝐯𝐞𝐥𝐞𝐫𝐬 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅:  https://lnkd.in/dqFG3DuN The increasing number of domestic and international travelers will increase the product #demand, driving the market growth over the forecast period.The majority of the products sold by retailers are high-quality & branded. This factor enables retailers to sell travel goods at higher prices, thereby limiting the product demand among lower disposable income level traveler groups. Additionally, limited customer awareness regarding new product launches and upgrades create a barrier in purchasing commodities, restricting the travel retail industry #growth. Recently, worldwide train transportation services witnessed a considerable surge in passenger bookings. This factor will increase the train passengers' demand for such products, thereby resulting in others' segments generating considerable product revenues. The global #travel_retail_industry size was valued at USD 55.74 billion in 2022 and is projected to grow from USD 60.72 billion in 2023 to USD 117.18 billion by 2030, exhibiting a CAGR of 9.85% during the forecast period. 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: Aer Rianta International Duty Free LLC The Nuance Group Lotte Duty Free Singapore Duty Free Global Ltd Samsung Group DFS Group Limited Dufry Group KING POWER INTERNATIONAL GROUP CO LTD #travelretail #dutyfree #shoppersparadise #airportshopping #travelerschoice #retailtherapy #globeshoppers #luxurytravel