High-end Chinese e-commerce platform Tmall Luxury has implemented new features to boost its brands’ appeal for Gen Z consumers in the region.
The three new features include a daily livestreaming service on luxury topics, a content-rich magazine channel featuring fashion news, and an upgraded membership program offering personalized services. The features are a response to the strong spending power for luxury items exhibited by consumers within the Gen Z age group, spending on average US$3600 annually on high-end goods.
Data collected by Tmall Luxury shows that four fifths of its user base are below the age of 35, with the number of luxury consumers aged 18–25 age group more than doubling between July 2018 and June last year. The emerging consumer dynamic has attracted top brands in the category such as Valentino and Balenciaga to collaborate with the platform.
“By providing Tmall’s unparalleled analytics and insights on luxury consumption in China, we empower luxury brands with a deeper and more accurate understanding of local consumer preferences,” said Alibaba VP and GM of Tmall luxury, fashion and FMCG Mike Hu. “These insights allow luxury brands to precisely tailor their communications to Chinese young audiences, while staying true to their brand identities.”
Almost 200 brands have opened flagship stores on the Tmall Luxury platform.