It is with pleasure that I welcome Laurence Ouaknine on BrandWatch. Laurence is the creator of "Au Coeur du Luxe" ("At the Heart Of Luxury"), a company specializing in luxury brand retail based in Paris, Hong Kong and Shanghai. "Au Coeur du Luxe" is one of the partners of The Scriptorium Company - and an important associate for the Asian market.According to CBRE's latest report published this month, Hong Kong has become the third most expensive city for renting retail space at 974 US$ / m2 a year. New York still ranks first with the most expensive rental rates at 1,725 US$ / m2 a year, followed by Sydney at 1,155 US$ / m2 per year.
Last year, the rents in malls climbed 250% (from 250HK$ to 625HK$ / m2). The record was reached in Causeway Bay in street-level shops, where the price reached a high of 1.800 HK$ / m2 a month. The challenge for luxury brands coveting space in the most dynamic areas in Hong Kong, like Tsim Sha Tsui, Central, or Causeway Bay consists of firstly, being able to find it, and then making it profitable.
Hong Kong is still the most attractive Asian city for luxury brands; 90% of them have been implanted there. This momentum should continue, driven by the number of Chinese tourists who have made Hong Kong their primary tourist destination.
New initiatives flourish in order to attract consumers, who are already in demand. This can be seen in the latest sensory marketing animation currently displayed at the busy Causeway Bay station: when the subway rouses the senses of users.
The subway corridors are generally uninteresting; they are just a series of underground tunnels through which a flow of passengers transit daily, often in a hurry to get out.
Nevertheless, a brand selling instant noodles decided to make these unloved alleys more attractive by providing users with very appetizing advertising. With their giant stickers, the underground corridors are suddenly transformed into a real supermarket display piled high with the famous noodles and its whole range of flavours.
The animation is really surprising; it attracts the attention of adults and particularly influences children who certainly will ask parents for the noodles they see, especially if mealtime is near. The sight, smell and hearing of users are attracted, promoting impulse buying, and which is meant to satisfy the five senses, including that of taste.
Poly-sensory marketing is still rare, but is proving to be very successful with young targets, like children. As the subway is an enclosed area, with a high footfall rate it is propitious for this kind of promotion - that one expects will be amplified in the coming years.