English language magazines are the new cool for HNWI Chinese: iconic travel & shopping Gervois magazine now distributed to Shanghai Travelers’ Club members

Shanghai Travelers' Club - Gervois partnership announcement March 1st, 2018GERVOIS magazine has been selected to be the new preferred global travel publication of the prestigious Shanghai Travelers’ Club, and is now distributed to its members.

GERVOIS magazine is proud to follow the steps of the iconic STC magazine, the Club’s own iconic travel magazine that has been published from 2008 to 2017.

Founded in Shanghai in 2008, the Shanghai Travelers’ Club is China’s most exclusive international luxury travel club for discerning Chinese global entrepreneurs and executives seeking experiential & authentic travel discoveries.

Its 12,000+ members have an average annual income of US$580K, travel overseas on average four times per year, and spend on average US$63,500 per year during their travels. 23% of them have invested in real estate internationally. Excluding their real estate investment abroad, they collectively spend & invest more than US$700M per year in travel related expenses.

Chinese power couple - China Elite Focus

Shanghai Travelers’ Club

As the vast majority of Chinese high net worth individuals who travel frequently overseas is now speaking Engligh fluently, the Shanghai Travelers’ Club members felt the need to partner with an English language luxury travel magazine.

The club has selected GERVOIS magazine for its acclaimed editorial content, featuring exceptional hotels, men’s fashion styling ideas, art investment, real estate investment, and their iconic travel photoshoots made by the New York based famous travel photographer EFDLT studio, Director of Photography.

Starting with the Spring 2018 issue, released on March 16th, GERVOIS magazine will proudly partner for the years to come with the Shanghai Travelers’ Club and invite its Chinese members to travel and discover the United States and the World in style.

More informations about GERVOIS magazine:
http://www.gervoisrating.com/shanghai-travelers-club/

More informations about EFDLT studio, Director of Photography:

http://www.efdltstudio.com/

https://www.instagram.com/efdltstudio/

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Chinese credit card China Union Pay plans aggressive expansion overseas to better serve Chinese travelers

China Union Pay

UnionPay International announced plans to expand its overseas presence Friday, with the company’s services already available in 148 countries and regions outside mainland China.
Beijinger Yin Nan said her experiences in the South Korea this week were no different from at home. Up to 80% of her spending, such as flight tickets, hotels and shopping, was paid through UnionPay.
“It’s very convenient because I don’t have to worry about exchanging a large amount of local currency,” she said.
“However, I do carry some cash for little souvenirs or street snacks,” she said.

The company already has a heavy presence in South Korea since entering the market in 2005, with more than 10 million UnionPay cards issued in cooperation with local banks.
“South Korea is one of the easiest markets in terms of using the UnionPay card,” the company said in an e-mail interview with Xinhua.

“Apart from Chinese users, an increasing number of people from countries such as Japan and Mongolia and China’s Hong Kong and Macao SARs are using UnionPay cards,” the company said.Gervois Rating Banner 01
In Hong Kong and Macao, almost all ATMs and businesses accept UnionPay cards. Nearly 20 million UnionPay cards have been issued in the two areas as well.
The Asia-Pacific region may be the market stronghold but UnionPay has also become a big international bankcard brand too. In Europe and North America, UnionPay covers most of the tour sites frequented by Chinese travelers.
“With respect to the global trend in the payment sector, we will continue to expand our coverage… meanwhile, we will also improve services so that more foreign nationals adopt our products,” the company said.

According to the Shanghai Travelers’ Club magazine, a travel publication for China’s richest “Even Chinese billionaires use their China Union Pay card to buy million dollars worth of jewelry in Paris or New York”.

Chinese travelers made more than 110 million overseas trips 2014, compared to less than 9 million in 1998.

Chinese HNWI consumers are richer than ever

Analysts now know that the best place to learn about Chinese ultra-rich consumers is not the mainland. Rather the Maldives, double-chain of islands near the equator, proves to be the perfect place to launch a case study of Chinese consumerism. In 2010, more than 118,000 Chinese visited the country: a 109 percent increase from the year before, making the Chinese the number-one inbound market of the Maldives. Tourists here have helped form the new profile of Chinese consumers.

More Chinese are traveling overseas from smaller cities, places where growing middle classes are accumulating more wealth and do not face the financial pinch of rising housing prices and inflation felt by similar demographics in cities like Beijing and Shanghai, which, according to Vincent Liu, a partner at BCG in Hong Kong, will eventually impact the spending power of travelers from first-tier cities.

“Many of them are richer than those from major cities,” says Roger Wang, head of Lukintl, a Beijing-based tour company that has taken thousands of Chinese to America since it was founded in 1996. “The tourists from the main cities are mostly from the middle class, while tourists from smaller cities are millionaires or government officials. Usually they have strong spending power.”

According to Wang, this demographic will spend more than $100,000 abroad, using credit cards or with money sent to them via wire transfer from friends. They tend to seek out famous brands.

A close look at these vacationers has enabled luxury companies worldwide to tailor their marketing strategies. “They are eager to buy something, because when they come here, they carry a lot of money,” says Shi Hui Ling, a so-called “guest experience manager,” who was handpicked from a tourism school in Dubai by Six Senses, a resort on a tiny island in an atoll called Laamu, to provide special service to guests from her homeland. “Something unique, they want to buy this.

However, it’s not just the unique that Chinese luxury vacationers are after: they still want the exclusive. Brands like Louis Vuitton are favorites in China and abroad. Travelers have no problem buying familiar products while on vacation, but they want the experience to be different.

“Our Chinese customers are buying more confidently into looks rather than individual pieces,” Jason Beckley, global marketing director at Alfred Dunhill, says. “They’re not impulse shoppers, and they’re discreet—they like a VIP or bespoke room, or even just to be offered tea or water when they are in the store.”

China’s Netizens, the name for the country’s 400 million web users, also offers creative labels the opportunity to enhance customers’ in-store experiences. “I think Internet shopping will be very hot in coming years,” says Wang. “People may choose the goods online and check when going abroad and finally buy. Because people here [in China] always doubt what is imported, I think overseas shops should have this business: reserve online and buy at the shop [abroad].”

Famous luxury travel clubs for China’s wealthy travelers such as the Shanghai Travelers’ Club, are very active on Chinese social media platforms such as Weibo, and exchange travel tips with their members. (For example, where to buy a US$80Million super yacht…)

To capitalize on the growing number of tourists from smaller cities, retailers abroad would do well simply to have salespeople who speak Chinese. But creating more brand awareness in China — beyond Shanghai and Beijing – will pay off both on the mainland and abroad.