The continent of Asia is home to nearly 4 billion residents – 4 billion residents with purchasing power able to bring the most influential supra-profit firms to their knees. As companies look to expansion into new demographic markets, it is no surprise to now find an asian model in many of today’s ads. In fact, it is surprising that we haven’t seen more!
Enter Godfrey Gao: Fellow Vancouverite, my long-time friend, and as Imogen Fox of the Guardian blogs, “The World’s First Asian Supermodel”.
Godfrey Gao in Louis Vuitton's Spring/Summer 2011 Campaign
As a country whose culture is built upon an aggregate of distinct cultures, Canada is no stranger to the growing number of immigrants pouring into our country. This “imported talent” supplies our economy with a strong work force that would have crumbled under low birth rates and retirement of the Baby-Boomer generation; however, looking into the world of fashion – which has long been the reflection of Euro-dominated gods and goddesses – reveals a long-awaited shift to all that is asian.
More specifically, Chinese men with lots of cash. The blog notes that “Chinese men now spend more on luxury goods than their female counterparts”. Just as Old Spice insightfully decided to women who were found to be the actual buyers of hygiene goods, Louis Vuitton understands the increasing buying power of Chinese males. In fact, the ratio of males to females is approximately 120:100 according to a 2004 NBC article.
So what does this mean to me?
As a Chinese-Born-Canadian, I’m relieved to see companies finally taking advantage of the untapped gold-mine right under their toes. Although it is early in the movement towards minority-designed advertisements in North America, it is definitely (and pardon the cliché) a step in the right direction.
Cheers.
Tags: 1 Comment
1 response so far ↓
Great job discussing Asia’s purchasing power, I definitely saw what you were talking about last year in Hawaii, when tons of Japanese tourists indulged in luxury brands!