Luggage And Watches Lead The Luxury Market Growth

World renowned strategy consulting firms Bain partners Bruno Laina, 16, attended the third session in Shanghai. Top Brand Summit Forum "China's luxury market is a male dominated market," he said. Wrist watch and Luggage and bags "Lead" market growth. It is noted that overseas consumption of luxury goods still accounts for 56% of China's market share.

The relevant data disclosed here show that the potential consumer of China's luxury goods market has reached 175 million people. The luxury goods businesses all over the world have really sniffed increasingly strong business opportunities in the 1 billion 300 million population country. Bruno LAN Na believes that the accelerated growth of China's domestic luxury market began in the second half of 2009, when the market size was 68 billion 400 million yuan, and all kinds of luxury products showed strong growth momentum in 2010.

Bruno said that a significant feature of China's luxury market is male dominated, with the middle price (25 thousand to 50 thousand yuan) wrist watch promoting a strong rebound in watches category, and luggage as the main personal and business gifts choice will maintain the previous growth trend. "Cartire, Longines, OMEGA, Rolex and Tudor are the top five brands in the wrist watch category. Chanel, Gucci, Hermes, Louis Weedon and the" top five "in the luggage category are nearly 50% of the market share.

The forum analyzed the development trend of China's luxury market: domestic purchases continued to increase; two or three line cities became the "new battleground" of the luxury market; consumers expected to get a comprehensive differentiated service experience; the importance of online platforms steadily increased; luxury sales increased Chinese elements; as gifts increased and diversified.

Speaking of whether China can develop its luxury brand, Professor MichelGustatz, director of MBA, Marseilles business school, believes that there are already many famous brands in the Chinese market. If Chinese enterprises can tap the existing brand potential, learn from the essence of Chinese traditional culture, the new combination of Oriental entrepreneurship and the western mature luxury brand management capabilities and experience, it will be the way for China to develop its own luxury brand.