Exploration on marketing strategy of foreign luxury brand in China

Abstract

Since the rise of China's economy, China has become the main consumer of the luxury market, and showing a rising trend, the major luxury enterprises are also fully entering the Chinese consumer market. With the rise of "new retail" model in China and the improvement of the consumption ability of millennials, luxury enterprises are bound to make adjustments in their marketing strategies in the face of such a new market environment as China. This paper first defines the definition of luxury goods, through the analysis of the current situation of the development of luxury enterprises after entering China, summarizes the two main problems faced by enterprises: the aging of brands themselves and the single retail channel, and combined with the development strategies of some luxury brands in China, from the perspective of the development strategy of some luxury brands in China, this paper summarizes the two main problems that luxury enterprises are facing. A road suitable for the development of luxury enterprises in China has been found out, and China has been in a blank state in the luxury sector, and it also provides a realistic basis for the establishment and development of luxury brands in China.