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Gartner L2 Digital IQ Index
With China’s luxury market back to double-digit growth and Chinese consumers expected to make up 40 percent of all luxury spending by 2024, whether or not brands are poised for success hinges on finding digital strategies that resonate with this crucial consumer group. The growth prompted a wave of major e-commerce launches and experimentation across WeChat mini programs and omnichannel, DTC, and e-tailer channels. Because of their rising purchasing power, luxury brands have been especially focused on reaching digitally native, millennial Chinese shoppers who embrace new types of fashion, engaging video content, online influencers, and mobile platforms like Weibo, RED, WeChat, and Douyin.