TBWALuxury Arts China and Rhizome, a research partner of Fudan University’s Business Anthropology Center, have joined forces to release a new white paper entitled ‘Luxury with Soul’. The paper documents the nature of luxury and its evolution in China.
This collaboration between TBWA and social anthropologists from Fudan University and Rhizome Research Center looks at China through a social-cultural lens. Through interviews with elite consumers and influential experts, TBWA and Rhizome explore an understanding of the past, present and future of luxury in China.
The paper reveals imminent shifts in the consumption of luxury characterised by an emerging opportunity in what Chinese consumers really want. “It is clear that a new luxury is emerging amongst the upper echelons of China’s moneyed classes. It is not simply a move away from ostentation, but a move toward something that is far more soulful,” said Milo Chao, Chief Strategy Officer at TBWAChina.
Guo Li, Partner of Rhizome Research Center added, “The concept of luxury arises from four cultural truths that are in short supply now more than ever. While each of these facets can be linked to the desire of the material properties of luxury, they represent a greater meaning in consumer’s lives that luxury brands can hope to deliver.”
The launch of ‘Luxury with Soul’ is just the start of the collaboration between TBWA and Rhizome. “Together with TBWALuxury Arts China, we’re establishing a luxury panel of 100 experts. Through long-term lifestyle tracking of these elites, we’ll be able to continuously uncover the social, economic, and cultural shifts and emerging trends in the luxury world, as well as provide strategic solutions for luxury brands to grow in China,” said Mr Li.
“We wanted to set a disruptive light on what makes China’s new generation of Luxury consumers so special and grounds for unique opportunities. Through the lenses of a proprietary luxury panel we’ve put the conventions of this all-mighty market segment to the test,” observed Muriel Lechaczynski, Brand Team Leader of TBWALuxury Arts China.
Ian Thubron, President of TBWAGreater China commented, “We’ve been committed to the ‘Let’s Talk Disruption’ series of thought leadership and white papers for three years now. ‘Luxury with Soul’ is our latest endeavor and we’re incredibly proud of it. It bucks convention in both approach and findings and presents a truly disruptive take on this critical market segment.”