2025年第三季度COMPASS指数

Bridging the gap between Marketing andeCommerce performance Powered by Re-Hub and DLG FromImpact to Advantage: The Turning Point for Luxury in China Afteran extended period of slowdown, Q3 2025 marks a turning point. The Chinese luxury market is showing earlysigns of recovery, modest yet meaningful, even as marketing budgets remain under pressure. Brands that actedearly, refocused priorities, and maintained commercial discipline are seeing stabilization, while those waiting fordemand to return risk falling behind. Recovery rewards focus, not optimism. Compass data highlights a clear shift from expansion to optimization and from visibility to efficiency. Brands areachieving more with less by optimizing assortments, refining storytelling, and aligning activations more closely withbusiness performance. Efficiency over excess has become the new competitive advantage, and leading brands aretranslating attention into measurable market gains. Max PeiroCEORe-Hub As we enter Q4, the Fall/Winter season will be decisive. With many brands under new creative direction, thecoming months are critical to reconnect creativity with commerce and shape the next cycle of growth heading into2026. Compass provides the clarity brands need to track momentum, understand market dynamics, and actdecisively as the recovery unfolds. The insights from this report are generated using COMPASS: a multi-platform tool thatautomates insights across the China digital landscape for over 150 luxury/premium brands Marketing COMPASS Gain clarity on your brand’s digital performance versus competitors. Compare followergrowth, brand content effectiveness, and user-generated content to identify whatworked, what didn’t, and how to refine your strategy BENCHMARK YOURPERFORMANCEagainst your competitors across channels eCommerce Unlock comprehensive eCommerce insights to drive growth. Assess revenueperformance at the brand and category levels, identify top-performing products, andanalyse the impact of key commercial milestones IDENTIFYPERFORMANCE GAPSand opportunties to prioritize Merchandising GENERATE NEWGROWTHOPPORTUNITIESat speed Benchmark your merchandising and pricing strategies against competitors, evaluate keyrevenue drivers such as discounts and promotions, and analyse the performance of newproduct launches How we can help 1 .C O M P A S S I n d e x–M a r k e t i n g2 .C O M P A S S I n d e x–e C o m m e r c e3 .C O M P A S S I n d e x-C o m b i n e d BGC: Engagements on Weibo, WeChat andRedNotedeclined,while Douyin reboundedwith double-digit increase UGC: Brand mentions on Douyin continue to grow steadily, whileRedNote, Weibo andWeChat experienced drops COMPASS Index–MarketingMethodology The COMPASS Index-Marketing takes metricsacross WeChat,RedNote, Weibo and Douyin forBrand Generated Content Engagement (likes,comments, reports), as well as User GeneratedContent (the number of posts mentioning thebrand and the associated engagement ofthese posts). The metrics are calculated on a platform levelthen layered up to a combination of BrandGenerated and User Generated contentperformance to an overall rank. The changes are calculated against theprevious quarter. Risers 1 .C O M P A S S I n d e x–M a r k e t i n g2 .C O M P A S S I n d e x–e C o m m e r c e3 .C O M P A S S I n d e x-C o m b i n e d Key Facts and Figures–Overall recovery, with bags showing signs of stabilization The YoY downturn is showing signs of recovery, with accessories and ready-to-wear returning to positive growth andbags reporting a flat performance for the first time in several quarters. Halfof brands are maintaining or growing, brandsperformance shows polarization COMPASS Index–eCommerceMethodology Our new COMPASS Index-eCommerce enhances theexisting marketing performanceindex by adding a commercialangle. Enabling you to seewhether marketing performance isbeing converted into commercialsuccess. Leveraging multiple differentindicators during the quarter, ithelps to measure not only thesales performance but also thehealth of the performance, withactivities such as largediscounting acting as a negativeinfluence toward the index itself. New Launches During Season Change Key Metrics (Q3) Revenue Almostdoubledin Q3Down Jackets accounted for77%of totalrevenue,Jackets & Coat follows with5%,andT-Shirt with4% 14,000–16,000 RMBpricesegmentgeneratedthehighestrevenue 11147222314Q2’25Q3’25 Leveraging Entry-Level Products GLOW Index The GLOW Index offers a clear,data-driven view of how newcollections contribute to revenuegrowth across leading luxuryfashion and leather goods brands. By combining the share of newproduct launches with theirrevenue impact, this proprietaryframework enables decision-makers to benchmarkperformance, identify strategicoutliers, and optimize futureassortments. Key Metrics (Q3)GLOW Index: 1.1136%of total assortmentwas launchedin 2025Q360%of Tmall revenue generated bynew releases in 2025,37%of Tmall revenuegenerated bynew releas