China Will Become The NO.1 Of Global Luxury Consumption.

In April 28, 2010, for the past 150 years, there have been unprecedented opening of two flagship stores in Shanghai on the same day and in the same city, the global luxury brand LV (LV).

Ten months ago, France's LVMH group, the world's largest luxury goods company with LV brand, bought a piece of land in Shanghai with Macao gambling king He Hongshen to build a luxury center.

In the 09 year, the financial crisis has led to the shrinking of luxury goods: Chanel layoffs, Prada (Prada) for help, bankruptcy of Christine Lacroix, France's top custom fashion queen, and bankruptcy of Japanese designer brand Yamamoto Teruji.

Behind the scenes of all kinds of joy, the luxury market is in a depression. Only the Chinese market has grown by nearly 12%. It has surpassed the United States as the second largest market in the world by spending up to US $9 billion 600 million (1/4 of the world).

Goldman Sachs Group believes that China will surpass Japan in 2015 and become the NO.1 of global luxury consumption.

As we all know, China's savings rate is as high as 40%, which is the highest in the world. "2009 China's millions of billionaire brand trend reports" released by Hurun rich show that 52% of the rich live in cities outside Beijing and Shanghai, and the consumption power of luxury goods in two or three tier cities is getting higher and higher.

This means that Chinese people have enough spending power, that is to say, Chinese people can spend money.

Many of the world's eyes are focused on the high savings rate in China. In fact, it is a look at the money in the pockets of the Chinese people - the money that will be spent in the future, and the anticipation of the future consumer market has led to some international brands flocking to the Chinese market. Foreign brands such as ZARA, H&M and UNIQLO, which have entered China before the golden financial crisis, have also stepped up their business promotion in the Chinese market.

In addition, international brands such as Louis Vuitton (LV), Hermes (Hermes) and Chanel (Chanel) have also increased the development of the Chinese mainland market.

According to the bain consultancy report, the luxury market in mainland China increased by 12% in 2009 to $9 billion 600 million, compared with $8 billion 600 million in 2008.

The Boston research group also predicted that China will become the world's largest luxury market in five to seven years, which has also become an opportunity for the big international brand to enter the Chinese market.

Louis Vuitton (LV), Zegna and Coach will open a large flagship store on the Huaihai East Road; Hermes Hermes will launch a new brand Shang Xia in China, and use the Chinese design talent Jiang Qionger as the artistic director of Shang Xia brand, and use the Chinese elements to launch a full range of products. In December 09, in December, the "Paris Shanghai" advanced handicraft workshop was launched by the fashion queen in Shanghai.

These cases are enough to show the international brand's love for the Chinese market.

No matter how strong the consumption power of China is, and the degree of recognition of its brand determines more or less its market sales situation, the Chinese market has a higher awareness of brands such as LV, GUCCI, Chanel and so on. Naturally, its "rescue" will be larger, and the buyers will be more.

Luxury goods have different meanings for everyone. Some people think they are just business cards to open the door of occupation. Some people think they are symbols of status, while others think they are just commodities.

The financial crisis has caused a great impact on the economy around the world. The consumer market in the world has been weakening. China is no exception. The superstition of luxury goods has contributed to the huge growth of their sales in China. It has also contributed to the boom of the world's luxury brands in China. When this trend is gradually cooling down, when the Chinese do not think much of luxury goods, when these luxuries are not enough to become workplace cards, are Chinese people still keen on luxury goods consumption?