Market research reports should be more like whiskey

Section 4 of the China Luxury Forecast 2021 Report

Rule №1: Focus

Credit: Whiskey Muse
The original report is an example of reporting on findings. The blue texts are two suggested changes. I have only re-worked Section 4 but you are welcome to re-work the rest.
  • Resilience amid COVID-19 in Hong Kong and mainland China
  • Opportunities arising from COVID-19
Suggested changes to S. 4 in blue: I have reworked the content by distilling the section into these two themes

Rule №2: Storytelling not reporting

Resilience amid COVID-19 in Hong Kong and mainland China

  • Lockdowns, mask-wearing and other successful measures have put the spread of the virus under control. With vaccines, consumers have become less fearful. Despite new variants, people now know how to protect themselves while healthcare professionals fight on the frontline. Consumers’ confidence picks up.
  • Luxury consumption is among the first to benefit. Despite an initial drop in spending in Q1 2020, we saw signs of recovery to the pre-pandemic level by Q1 2021. COVID-19 has knocked down many, but Chinese luxury consumers are making a come back. Stronger than ever!
  • The pandemic experience has made people rethink their values and refocus their life goals. This in turn influences their purchase behaviours and attitudes.

Opportunities arising from COVID-19

  • There is an increase in online shopping for luxury goods, meaning that consumers will be less restricted by distance and location.
  • We can also observe an emerging second-hand market for luxury goods, especially among younger luxury consumers. This is growing alongside repairing luxury items. Luxury brands are beginning to offer free repair services.
  • As paradoxical as it may sound, luxury brands need to actively play a part in these trends, setting against the backdrop of sustainability, in order to stay relevant in the market. The pandmic has added to its urgency.

Rule №3: Avoid charts if possible

Source: China Luxury Forecast 2021
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Hong Konger. World Explorer. Fun Lover.

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