Thinking about social, luxury and China

I attended a fascinating conference in Paris a few weeks ago. (I meant to publish this then but work and child got in the way). It was the L2 thinktank. A research firm I’m ashamed to say I’d never heard of before particularly because of the quality (and honesty) of the research work they produce is really insightful.

The crux of the conference was about how luxury brands could take advantage of markets like China where the online world is vast compared to Blighty or the good ol US of A. I was even allowed to throw in my two penith in about what to consider when building an integrated global campaign.

I’m not going to lie. It was a stats fest but in a good way. Here’s some of the key nuggets that I jotted down.

  • Only 8% of luxury companies localise their social presences for language
  • Household incomes of over $30k is considered luxury in China
  • Russians spend on average 10 hours per month on social networks compared to a global average of 4.5 globally

Other things I was impressed by:

  • The presenter of the Digital IQ stats ability to deliver a great presentation despite someone snoring, very loudly, in the audience. (I believe he took advantage of the ‘drink wine with lunch’ policy).
  • The cookies served in the coffee break
  • Me spilling an entire cup of coffee but managing to miss the lady I was speaking to

If you’re into the luxury market scene, I’d highly recommend checking out the L2 guys