E-commerce has become a necessity for brands in China. At the Luxury Society Keynote in Shanghai, Buy Quickly’s Founder, Chairman and CEO John Liu delved into its potential, offering key takeaways for luxury brands looking to develop their e-commerce business in the market.
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[Video] LS Keynote Shanghai 2020: Building an E-commerce Ecosystem and Infrastructure
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Over the last decade, collaborations between luxury brands and contemporary artists have gone beyond mere artistic partnerships towards a new kind of luxury branding.
PARIS – Art and fashion have always developed side by side, for fashion, like art, often gives visual expression to the cultural zeitgeist. During the 1920s, Salvador Dalí created dresses for Coco Chanel and Elsa Schiapparelli. In the 1930s, Ferragamo’s shoes commissioned designs for advertisements from Futurist painter Lucio Venna, while Gianni Versace commissioned works from artists such as Alighiero Boetti and Roy Lichtenstein for the launch of his collections. Yves Saint Laurent’s vast art collection, recently auctioned at Christie’s in Paris, testified to his great love of art and revealed the influence of a variety of artists on his own designs.
In the 1980s, relationships between luxury brands and artists were advanced when Alain Dominique Perrin created the Fondation Cartier. In the Fondation Cartier pour l’Art Contemporain, a book marking the foundation’s 20th anniversary, Perrin says he makes “a connection between all the different sorts of arts, and luxury goods are a kind of art. Luxury goods are handicrafts of art, applied art.”
The Fondation Cartier pour l’Art Contemparain building in Paris
E-commerce has become a necessity for brands in China. At the Luxury Society Keynote in Shanghai, Buy Quickly’s Founder, Chairman and CEO John Liu delved into its potential, offering key takeaways for luxury brands looking to develop their e-commerce business in the market.
Once regarded with wariness by luxury brands, Tmall has since become a key channel for the development of their e-commerce businesses in China. As the e-commerce infrastructure in China matures, the focus on online marketplaces and other brand-owned e-commerce channels like WeChat and the brand official site has also grown. How can brands strengthen their e-commerce offerings and boost performance in this market?
At the recent Luxury Society Keynote in Shanghai, John Liu, Founder, Chairman and Chief Executive Officer at Buy Quickly, a leading service provider specialising in the international fashion, premium and luxury sectors, shared insights on macroeconomic trends fuelling the luxury industry in China, and some key insights for luxury brands to strengthen their e-commerce presence in this market.
Consumer behaviours are increasingly shifting online, noted Liu in his presentation. “Sixty-two per cent of consumers who end up purchasing offline will first discover the brand online,” he shared. This makes it important for brands to ensure that they have a good online infrastructure to support the search and discovery process, and also opens up a host of new opportunities when it comes to creating omnichannel experiences.
“Balancing brand positioning and sales performance is another critical issue when operating luxury e-commerce,” said Liu. Striking a balance between branding and driving sales can be a challenge, as livestream sessions on e-commerce platforms tend to be driven by discounts. Brands that do not want to go down this path can instead use it as a method to drive awareness – and this can be achieved through well-curated brand content and alignment with collaborators (such as KOLs and celebrities) in terms of overall tone and delivery.
Watch the video for his full session. A PDF version of presentation is also available for download at the link below.
LS Keynote Shanghai 2020: Building an E-commerce Ecosystem and Infrastructure
Editor, Luxury Society
Before joining Luxury Society, Alexander was a business journalist covering M&A, finance, technology and marketing strategy at Women’s Wear Daily. He contributed articles to Financial Times, T: The New York Times Style Magazine, WSJ. Magazine and other media regularly as well. Alexander is also Research Director at DLG China.
