Lily F., student of the MSc in Luxury Management & Marketing currently studying on EMLYON's Asian campus in Shanghai, gives her feedback on what she has learned so far about the Asian Luxury market:
What have you learned specifically about the Asian Luxury market?
This semester in Shanghai has been eye-opening. I have learned so much in just two months and still have a lot to go through. During this semester, I realised that this region of the world is fascinating both because of its dynamism and its cultural differences.
We learnt a lot about both the Japanese and the Chinese markets, two intrinsically different cultures. The Japanese people have not only a deep understanding of quality, craftsmanship and beauty but they also have very high expectations in terms of service and experience.
Chinese customers have different aspirations, values and desires. I believe it is extremely important for us, future brand managers, to understand that this market will mature extremely rapidly and that education goes both ways. We will not be able to simply dictate the way we want our products to be marketed; if we want to succeed in China it is essential that we understand its rich culture and history to adapt our offer.
What advice would you give to future MSc in Luxury Management & Marketing students?
If I had to give a piece of advice to any student wanting to learn about the Asian luxury market it would be to visit stores, observe consumers and get a feel of the market on your own.