China’s Online Luxury Market Unpacked

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Photo: Technode

Baidu, Sina Weibo, and Renren are three Chinese internet giants that are globally recognized. These Chinese alternatives to online companies such as Google, Twitter, and Facebook are rivaling the popularity of their Western counterparts, in part due to China’s strict media censorship. China also has a booming luxury industry, which has many global competitors intrigued.

Most recently, SINA Corporation publicized its new luxury e-commercial channel, called Sina Shepin, which will provide a way for the rest of the world to merge with Chinese consumerism. The channel will feature accessories and apparel from various high-end brands such as Louis Vuitton and Burberry. Although the Sina Shepin has received mostly positive publicity, not everybody believes that it will be as large a success as predicted. Some go as far as to discredit the originality of the idea itself, pointing out that there are many other online luxury shopping outlets already in existence, such as Shangpin.

Studies show that online message boards, blogs, and social networking sites serve as advertisements for luxury brands and, as a result, for the internet sites that sell them.

Source: LuxurySociety

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