Trends in the Quality Consumption Market
for China’s Elite
How can we develop a deeper understanding
of the demands of China’s new elite?
This is a technical question which has to be answered rationally
There are marketing studies and consumer reports to answer these questions. You haven’t invited someone like me to give you quantitative answers.
Q. In which areas can Chinese entrepreneurs learn from their Italian counterparts?
Elio. The Chinese probably have more to learn from their Italian counterparts from a standpoint of manufactured goods. The quality of the craftsmanship is what makes the ‘Made in Italy’ brands far more appealing than ‘made in China.
“The crisis facing humanity today is not an environmental crisis, political crisis or a financial one; it is essentially a crisis of values. Any crisis, whether it is individual, social or worldwide, is a sign that the old way isn’t working anymore. This is both a danger and an opportunity. The danger is to fall back into the chaos, war, disease, misery and death, if you continue to believe that a solution can come from outside; and the opportunity is to understand that a real solution can only come from a new way of thinking and acting. The real challenge today is to start looking inside yourself, and find out that the world is as it is because you are as you are. The wider your vision, the greater will be your life.
An individual, an organization, or a country will fail if that individual, organization, or country is concerned only with quantity or financial power, but develops if it is concerned with raising the quality and values of its people. One day, to be successful, every company and enterprise will become a School of Being – a School of Responsibility.
You can possess only what you are responsible for.
Q. How can “Made in China” become synonymous with the world’s top brands?
Elio. This is a question for area specialists. China will have to do something to raise the consumer’s perception of it as a producer of quality luxury goods. Producing some important native designers who are successful worldwide would be a way to raise the image.
Q. Can cross-border e-commerce narrow the distance between China’s elite consumers and the rest of the world?
Elio. It will certainly make transactions and exchange quicker, but the distance is not merely a matter of the exchange of goods, but of culture, of values and of quality. You cannot buy quality nor taste nor social standing. In order for the Chinese elite to be accepted among the higher echelons as it seems they would like there must be structures put into place that can permit them to access the values that have produced this quality.
The European School of Economics was founded for this very reason, with the mission of creating new generations of leaders all over the world.
Milan September 14th Conference WEALTH, PROSPERITY AND CAPITAL, FORUM 2015