1、Decoding Luxury Marketing Milestones in China 2024:QixiIs Qixi still a key moment for luxury brands to drive desirability and excitement among Chinese consumers in an increasingly competitive market?2Table of contents01.Introduction02.Performance Overview03.Conclusion04.Appendix3Introduction01.Intro

2、ductionChina and its Local Festivals still Matter.4In 2016,for Qixi,Dior became the first luxury brand to sell handbagson WeChat,when it released a limited edition of its signature Lady Dior Small bag and offered a customisation service for the strap,further innovating by only selling this bag onlin

3、e through WeChat.This move signalled the beginning of a new era in China for luxury players,driven by the rise of online channels.At that time,the global luxury industry was experiencing its most severe downturn since the financial crisis of 2007-08,with the personal luxury goods market shrinking by

4、 1%year-over-year.The industry referred to this period as the“new normal”for luxury,characterized by stark polarisation of brand performance,weakened consumer confidence across regional markets,and the volatility posed by emerging channels a scenario remarkably similar to today.History provides a le

5、sson for the present:during such critical periods of paradigm shift,brands must excel and continue to invest in key markets.In the face of todays slowing growth in China,leading brands are still demonstrating their unflinching commitment to this market and its consumers.This commitment toinvest in C

6、hina is strengthened by the fact that while thegeography where Chinese consumers purchase luxury goodsmay be shifting,it remains critical to market to them in China.A crucial link of the China strategy is capturing local marketing milestones,which represent significant revenue peaks throughout the y