Personalized Consumption Will Become A New Trend In China'S Consumer Market

Li Guoding, general manager of Shanghai Bailian Group AG, predicted that a new generation of consumers in China will no longer regard luxury goods as a symbol of identity and wealth. In the next three to five years, luxury consumption may be partial to personalized consumption in Shanghai, a global forum on department stores held in Shanghai recently.

"Although luxury consumption is a hot point of consumption growth, a new generation of consumers may be more interested in discovering new designer brands and products with unique connotations, thus reflecting the pursuit of personalized consumption."

Li Guoding said.

For this analysis and prediction, there are many foreign countries.

Paul Gasparini, President of L'OREAL China, said that L'OREAL recently opened a luxury brand counter in Yichang, Hubei, and won one million yuan in its first day of business. "Now, our luxury brands can find the market almost anywhere in China."

A report released by the World Luxury Association said that China is expected to replace Japan as the world's largest luxury goods trade and consumption center in 2012. The total consumption is expected to reach US $14 billion 600 million and is expected to grow by 36.5% over the previous year.

Although there are different views on the prospects of the luxury goods market, at the global forum of department stores in 2011, more than 300 representatives at home and abroad attended the meeting generally believed that with the sustained and rapid economic development, Chinese consumers are undergoing tremendous changes. They may partly replace the personalized demand of luxury consumption, and facilitate the demand, emotional needs and cultural needs, which will become the new trend of China's consumer market in the next ten years.

Statistics show that last year, Chinese Society