World Luxury Tracking 2018 - Culture Luxe

World Luxury Tracking 2018 - Culture Luxe

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  1© 2018 Ipsos.All rights reserved. Contains Ipsos' Confidential and Proprietary information and may not be disclosed or reproduced without the prior written consent of Ipsos. WORLD LUXURY TRACKING 2018 culture luxe
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  2 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g The principle : a socio-cultural study exploring consumers’ relationship towards luxury RETURN TO FUNDAMENTALS & DYNAMIC OF INNOVATION A POWERFUL 10 YEARS HISTORICAL BASIS Data have been collected since 2007, on different categories of luxury goods. Questions and items selected for their relevance, analysed through a powerful archive of data enriched over 10 years AN INNOVATIVE APPROACH OF DATA Open-ended questions allowing consumers to express themselves more freely, with the possibility of quantifying key topics expressed by them. The use of data science to understand consumer’s values, perceptions and opinions.
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  3 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g 5 countries surveyed CHINA, HONG-KONG, SOUTH KOREA, JAPAN, RUSSIA 5 700 interviews 1000 per country, 1600 in China, 1100 Japan People aged 18-60 / 18-70 in Japan Representative samples of the richest population (Top 5 incomes in China, Top 10 in Russia and Top 20 in South Korea, Hong-Kong and Japan) Fieldworks : June 2018 China, HK, SK 2016/2018 Japan 2015/2018 Russia 2016/2018 *vs. 800 inters / pays en 2016 The perimeter : this year an analysis conducted across 5 key countries to offer a « Big East » vision, with first results planned in September 2018 BIG EAST » PERSPECTIVE IN 2018
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  4 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g Opportunity to compare & contrast with results from Previously covered geographic areas USA Latin America (Mexico / Brazil / Colombia) Europe (France / Germany / Italy / Spain / UK) Middle East (KSA - UAE) Russia Asia (China / Hong-Kong / Japan / South Korea) South East Asia (India / Indonesia / Thailand) GEOGRAPHICAL SCOPE
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  5 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g A comprehensive overview of the evolving perception of luxury and key categories Interviews 30mn long Lifestyle questions ‒ State of mind ‒ Values ‒ Hobbies, Travel ‒ Social media habits Their attitudes toward luxury: ‒ Level of appreciation, ‒ Values associated to luxury ‒ Specific needs (toward brands, products, in store…) A dedicated section on brands and categories: 1. READY-TO-WEAR ACCESSORIES CLOTHES, BAGS, SHOES, EYEWEAR 2. WATCHES 3. JEWELLERY 4. ALCOHOLS WINES AND LIQUORS 5. BEAUTY / FRAGRANCE REFOCUSING ON HISTORICAL CATEGORIES
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  6 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g STRATEGIC PLANNING TEAM A COLLABORATION BETWEEN 3 IPSOS TEAMS A hybrid study integrating Quantitative Survey / Data Science / Strategic Planning DATA SCIENCE TEAM PROJECT MANAGEMENT TEAM
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  7 CULTURE LUXE 2018 WorldLuxury Tracking METHODOLOGICAL ASPECTS
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  8 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g The aim of the study : understanding the outlines of luxury culture and analyzing consumer expectations across different categories and markets  Who are today’s luxury good consumers ?  What is their state of mind? What do they buy ?  What place does luxury hold in their daily life ?  What are the values associated to luxury ? TO DEFINE LUXURY CONSUMERS PROFILES  Where do they prefer to buy luxury goods? What are their favourite places to shop ?  How do their luxury purchase go through according to the product category ?  What are their expectations in store ?  How do they get information before shopping ? Who & what influences them ?  What brands are they aware of / associate with luxury ?  What kind of relationships do they expect from luxury brands ?  How does their brand perception change within specific product categories ? TO UNDERSTAND THEIR RELATIONSHIP WITH BRANDS TO DETERMINE WHICH FACTORS AFFECT THEIR PURCHASING BEHAVIOUR
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  9 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g  Confidence in their country economy / in their personal future  Spending intentions  Mobility and travel abroad  Definition / Image / Perception of luxury – OPEN-ENDED QUESTION  Category most associated to luxury  Expectations toward luxury / Role of luxury in their daily life  Attractivity per country  Expectations in a luxury goods store  Purchase behaviour per category : category purchased / purchase intentions  Spontaneous awareness of luxury brands in general – OPEN-ENDED QUESTION  Spontaneous awareness of luxury brands per category – OPEN-ENDED QUESTION  Aided brands awareness per category  Grade given to dwell-known brands (associated to luxury) – Luxury Brand Index - per category  Description of Megabrands imaginaries par category  Description of the last luxury purchase per category and subcategory – OPEN-ENDED QUESTION  Upstream : Sources of influence before the purchase per category  Purchase : Place of purchase per category  Motivations and barriers to buy online ECONOMICAL ENVIRONMENT PURCHASE BEHAVIOUR / CATEGORY MEASURES RELATED TO BRANDS ATTITUDES TOWARD LUXURY MEASURES RELATED TO THE PURCHASE / CATEGORY MEASURES RELATED TO LUXURY PURCHASE DEFINEUNDERSTANDDETERMINE Questionnaire TOPIC MODELLING / IMAGE TAGGING TOPIC MODELLING SCREENER QUESTIONS: Socio-demographic characteristics FOCUS ON DUTY FREE  Purchase behaviour in duty free per category : category purchased / purchase intentions  Specific needs in duty free stores OPEN-ENDED QUESTION CO OCCURRENCE ANALYSIS
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  10 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g ABUNDANT AND VARIED ANSWERS COLLECTED FROM AFFLUENTS, ILLUSTRATED THROUGH WORDS AND IMAGES THAT PROVIDE A GREAT VARIETY IN TERMS OF FORM & CONTENT A B E T T E R U N D E R S T A N D I N G O F T H E I R V A L U E S A N D E M O T I O N S Our Data Science Principle : EXPLORING VALUES AND EMOTIONS Processing open-ended questions through Topic Modelling allows us to identify key topics within the corpus of verbatim, which can then be quantified and ranked. Analysing images through Image Tagging allows to identify and better understand the emotional responses that occur during the purchase process – upstream, during, after. THEIR WORDS = TOPIC MODELLING THEIR IMAGES = IMAGE TAGGING
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  11 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g Data associated to the open- ended questions is collected • Definition of luxury • Description of the last purchase • Mental maps of brands VERBATIM PICTURES Topics clusters or groups of frequently used words associated together Definition of common dimensions in order to : • Understand what luxury means to every consumer and compare different perceptions between countries • Learn all useful information about their last purchase and compare differences between products categories / between different countries • Understand how each surveyed brand is perceived across different countries. 1 2 3 The Data Science clusters the different topics with the greatest affinities to quantitative metrics Our Data Science Methodology : TOPIC MODELLING + IMAGE TAGGING
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  12 CONTENT & EXTRACTS CULTURE LUXE2018 World Luxury Tracking
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  13 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g Extracts : Summary from WLT 2017
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  14 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g NE W CULTURAL BACKGROUNDS WELCOME TO CULTURE LUXE ! Extracts : Key Learning from 2017 WLT A NEW ECONOMY OF SIGNS Despite political and economical uncertainties, affluent consumers are still optimistic and appeased, willing to spend a little more for luxury in 2018; their desire for luxury products and services has made a clear progress : +16 pts in Europe vs 2015 and +16 pts in US vs 2015, with a stable and high growth of 55% in Middle East. A GROWING DESIRE FOR LUXURY ESSENTIALS & NEW HORIZONS A NEW ELITISM THROUGH A LUXURY CULTURE Consumers expect brands to stand out by building on their fundamentals : a consistent story telling : 82% in US (+22pts), 74% in Europe (+8 pts) and 85% in Middle East. But they want to be surprised too with creative innovations, unexpected, never seen before products : 70% of US Affluents (+8pts), 72% in Europe (+8pts) and 85% in Middle East. We can observe a new way of reconstructing social elitism through luxury and cultural brand anchoring. There is a cult of the rare object, a wish to belong to a special inner circle of people who have a real knowledge of the luxury world, who know designers, brand history… These are the significant trends examined from the previous WLT. In an uncertain world, described as a « liquid world » by many sociologists, purchasing luxury goods is no longer a way to showcase your identity in reaction to a static mass – with signs that are more or less sophisticated – it is today more of a vector for fluid interaction and expression between knowledgeable consumers that perceive luxury and its codes as a lifestyle in and of itself..
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  15 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g T O P T O P I C S P U R C H A S E T O P T O P I C S C A T E G O R I E S T O P T O P I C S B R A N D SS T A T I S T I C A N A L Y S I S P E R C O U N T R Y H I S T O R I C A L A N A L Y S I S B R A N D / R A N K I N G / P R O F I L E S HISTORICAL DATA + EMOTIONAL UNDERSTANDING 2017 Reminder
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  16 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g 2018 Extracts A LUXURY C ULTURE THAT VARIES FROM COUNTRY TO COUNTRY TOPIC MODELLING
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  17 TEAM CULTURE LUXE 2018 WorldLuxury Tracking
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  18 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g Françoise Hernaez Fourrier HEAD OF INSIGHT & CURATION 06 99 48 21 34 [email protected] Françoise is the Head of the Cultural Intelligence department. Her studies combine quantitative analysis, strategic planning and innovative methodologies (semantics, topic modelling…). With over 20 years of experience in Research and Creative Agencies, she has been in charge of the WLT study since 2015, and its new Data Science insights since 2017 under the format « Culture Luxe”. She is a graduate from The Sorbonne & Pantheon-Sorbonne and has a double degree in Linguistic and Political Sciences. Charlotte is a language expert and manages the Data Science project within the WLT team. She carries out analysis involving text data/pictures unstructured, such as socials data. Charlotte conducts Topic Modelling / Image tagging analysis on Open-ended question in collaboration with the Insight Team and with the Ipsos Project Management who coordinates fieldworks. She is a Denis Diderot graduate in Computer Linguistics. Natacha coordinates the WLT fields with local Ipsos teams and Data Scientists. With over 6 years’ experience working as a market research analyst, she started at Ipsos in the media and digital department where she contributed in developing innovative methodologies. Since then, she has developed an expertise in the luxury industry and is in charge of the WLT through which she strives to set a new standard for the analysis of on-going luxury market trends. Her educational background includes a master’s degree in applied sociological and Political Sciences from Paris-Dauphine University. Charlotte Zaepfel DATA SCIENTIST 01 41 98 91 82 [email protected] Natacha Chomet INSIGHT MANAGER 01 41 98 97 73 [email protected] Team
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  19 TIMELINES & BUDGET CULTURELUXE 2018 World Luxury Tracking
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  20 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g Budget Q U A N T I T A T I V E S T U D Y + D A T A S C I E N C E + S T R A T E G I C P L A N N I N G Scope Common core Common core + one category report Common core + all category reports All countries 22 000 € before VAT 29 000 € before VAT 35 000 € before VAT Included :  Quantitative core tracker – 1000 interviews in 5 countries / Boost = 1600 in China 1100 in Japan  Data : Topic modelling and Semantic understanding of verbatims and pictures  A strategic planning perspective on several market fields  Oral presentation This document has been designed according to Ipsos Quality standards. It was reviewed and approved by: Françoise Hernaez Fourrier – Head of Strategic Planning 5 CATEGORIES: 1. WATCHES 2. JEWELLERY 3. READY-TO-WEAR ACCESSORIES CLOTHES, BAGS, SHOES, EYEWEAR 4. BEAUTY / FRAGRANCE 5. ALCOHOLS WINES AND LIQUORS
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  21 C U LTU R E L U X E 2 0 1 8 W o r l d L u x u r y T r a c k i n g April May June July August September October November December Fields Report for each category (.PPT) Specific reports only on request (.PPT, .xls) First Results (.xls) Questionnaire Timelines
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  22 ABOUT IPSOS Ipsos ranksthird in the global research industry. With a strong presence in 87 countries, Ipsos employs more than 16,000 people and has the ability to conduct research programs in more than 100 countries. Founded in France in 1975, Ipsos is controlled and managed by research professionals. They have built a solid Group around a multi-specialist positioning – Media and advertising research; Marketing research; Client and employee relationship management; Opinion & social research; Mobile, Online, Offline data collection and delivery. Ipsos is listed on Eurolist - NYSE-Euronext. The company is part of the SBF 120 and the Mid-60 index and is eligible for the Deferred Settlement Service (SRD). ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP www.ipsos.com GAME CHANGERS At Ipsos we are passionately curious about people, markets, brands and society. We deliver information and analysis that makes our complex world easier and faster to navigate and inspires our clients to make smarter decisions. We believe that our work is important. Security, simplicity, speed and substance applies to everything we do. Through specialisation, we offer our clients a unique depth of knowledge and expertise. Learning from different experiences gives us perspective and inspires us to boldly call things into question, to be creative. By nurturing a culture of collaboration and curiosity, we attract the highest calibre of people who have the ability and desire to influence and shape the future. “GAME CHANGERS” - our tagline - summarises our ambition. © 2015 IPSOS. ALL RIGHTS RESERVED. This document constitutes the sole and exclusive property of Ipsos. Ipsos retains all copyrights and other rights over, without limitation, Ipsos' trademarks, technologies, methodologies, analyses and know how included or arising out of this document. The addressee of this document undertakes to maintain it confidential and not to disclose all or part of its content to any third party without the prior written consent of Ipsos. The addressee undertakes to use this document solely for its own needs (and the needs of its affiliated as the case may be), only for the purpose of evaluating the document for services of Ipsos. No other use is permitted. FIND US www.ipsos.fr facebook.com/ipsos.fr @IpsosFrancevimeo.com/ipsos