China'S Luxury Market "Change"

A few days ago, the fourteenth TOPMARQUES Shanghai international luxury life Expo ended in Shanghai.

As a luxury consumer country with annual growth rate of over 20%, what path will China's luxury consumption go out? What brands can enter the list of world luxury goods? How can China's luxury consumption fade away from "flaunting" its shell to real luxury consumption?

Top luxury goods are competing.

As the world's largest luxury exhibition, TOPMARQUES is renowned for its collection of the world's top luxury goods, including super sports cars, precious jewellery, advanced watches, cigar wine, fashion homes and high-end properties. Every year, many Asian brands, including the world's first and most popular brands, have become the preferred platform for the launch of top brand new products.

This TOPMARQUES has brought together more than 100 top brands, including Ferrari, Martha Lahti, Maybach, AMG, Lamborghini, Bentley, Halley Davidson, BMW and Kelan.

TOPMARQUES curator and Mr. Sheng Lei, managing director of the exhibition, introduced to reporters: "this exhibition takes the theme of high-end lifestyle as the theme. In addition to over more than 300 super sports cars, there are also a series of treasures of the sophisticated craft watches produced by the Swiss watch master, from the European custom jewelry, the rare antiques and artworks of eighteenth Century, the top emerald, the extremely rare red diamonds, the largest Tahiti black pearl in the world, and the golden nanmu furniture, known as the" imperial wood ".

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It is understood that the super sports car has always been the most notable label of TOPMARQUES, and every year's exhibition will gather many top famous sports cars.

Reporters at the scene that day, around two o'clock in the afternoon, exhibits are coming in, the top sports car matrix has been formed, the top 20 sports cars are ready to go.

At the same time, there are more than more than 10 antiques Rolls-Royce display on the scene, becoming a highlight of the exhibition.

It is reported that this "centenary Rolls-Royce classic retrospective exhibition" is a collection of classic car models from the past 20s to the present by the organizers from all over the world. For example, SilverGhost, SilverCloud and SilverShadow are rare models in China. Rolls-Royce brand also sent Gust and phantom lengthening version to help.

On the night of the opening of this exhibition, the super sports car brand Bao Li Li unveiled the mysterious veil of the new MKIIILaJoya sports car, so that car lovers can see closely the exquisite appearance and luxurious interior decoration of the Popi's sports car.

Reporters also noted that this exhibition has set up a high-level jewelry exhibition area, most of which are custom jewellery series, including Jewelmer gold pearl from Philippines and France.

Cottin luxury notebooks, French Tahiti Black Pearl, Thailand jeweller Faidee brings the world's most rare red diamonds, Italy's Jeni jewelry and Vanity jewelry.

At the same time, the Swiss independent watch society also displayed more than hundreds of complex watches for guests.

In addition, the exhibition also has antiques and artworks. The ToulouseAntiques jewelers from the United States bring exquisite antiques and artworks. The SandraCronan from the United Kingdom presents the classic antique jewelry of the last century, including the Cartire diamond ring produced in 1930. The Shanghai Shen Gallery of the Bund No. three also presents modern oil paintings and artworks; the SICS art organization from Japan also brings refreshing custom oil paintings.

China's luxury market blowout

The Chinese market has given the luxury industry two prosperity. Over the past few years, the scale of China's luxury goods industry has been growing by more than 20%. Even during the financial crisis, demand in Europe, the United States, Japan and other developed countries and regions has generally shrunk, but the Chinese market has been blowout growth.

The blue book of the 2011 official report of the World Luxury Association shows that from February 2010 to the end of March this year, the total consumption of China's luxury goods market has reached US $10 billion 700 million (excluding private aircraft, yachts and luxury cars), which exceeds 1/4 of the global total, and nearly 2/3 of the world's luxury brands have entered the Chinese market.

The World Luxury Association predicts that by 2015 China will become the world's largest consumer of luxury goods.

Moreover, in the context of the loss of sales in the European and American markets, the international high-end luxury brands see the Chinese market as a life-saving straw and rush to enter China. The "war" has even spread to the two or three tier cities.

Carlo Mazae, chief executive officer of Italy luxury goods manufacturer, said recently that "even if the economy is weak, the sale of luxury goods will not be affected. Because I do not think China's economy will be seriously affected by the international financial crisis. The Chinese economy will maintain steady growth, and the demand for luxury goods by Chinese consumers will remain strong." Carlo Mazae said.

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Mazae pointed out that at present, 40% of Prada's business comes from the Asian market, and this proportion is expected to rise to 50% next year.

In the first 6 months to the end of July, Prada's total sales in mainland China, Hongkong and Macao reached 223 million euros ($961 million 500 thousand), an increase of 38% compared with the same period last year, accounting for 20% of the total sales volume of the company.

Thus, in the next two to three years, the annual sales volume of the company in the Chinese mainland market will increase by more than three times.

Patrick Thomas, President of the European luxury brand Hermes group, also said recently that its investment in China's brand up and down was only 1st anniversary, and its performance has exceeded expectations.

"The Chinese market now accounts for 9% of the global market share of Hermes, and greater China (including Hong Kong, Macau and Taiwan) accounts for 17%, and the Greater China market will become the largest market in the world next year.

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Domestic conspicuous consumption pformation

A recent survey of five or sixty international luxury brands from a luxury website shows that all the latest strategic trends of all luxury companies surveyed are all preemptive of virgin land. Cities such as Beijing, Shanghai, Hongkong, Chengdu, Hangzhou, Shenyang, Shenzhen, Dalian and Guangzhou are the cities with the most sales outlets.

From the perspective of consumers, according to the zero point survey on urban public consumption behavior in 2011, compared with the past, the consumption level of urban public consumption is deepening and showing the characteristics of "low and humble".

This feature is reflected in the low age of luxury consumption structure, the "down" of luxury consumption cities and the relative rationality of luxury consumption.

That is to say, the proportion of luxury goods consumed by young people under 40 is relatively high. Meanwhile, the consumption of luxury goods in the two or three tier cities is higher than that in the first tier cities, while the impulse consumption of consumers who buy luxury goods is less and less.

Yuan Yue, President of zeros group, said that China's luxury consumption has gone through a stage of showing off and is moving towards an adaptation stage.

An important feature of this stage is that there is little impulse consumption.

Industry experts also pointed out that although China's luxury market is growing rapidly, it is still in its infancy.

China's economy has experienced rapid growth in the early stage, and now it is entering the era of mass consumption. Luxury consumption is developing from showing off to experiencing.

Yuan Yue believes that luxury consumption should be divided into luxury consumption and luxury consumption.

Among them, the main body of luxury consumption is those who have enough purchasing power to buy luxury goods, while extravagant consumption refers to those whose purchasing power is not enough to support extravagant consumption, but those who purchase some luxuries by purchasing part of their purchasing power.

Industry experts also further indicated that with the gradual deepening of consumption upgrading, luxury consumption will gradually return to the pursuit of a better, more quality and happy life.

With the continuous growth of the economy and the rapid increase of per capita income, China's luxury market will continue to grow at a high speed in the next ten years, and there will still be room for growth in the future.

Building luxury brand

In fact, China has been a major producer and consumer of luxury goods in the world since ancient times.

In particular, the silk and porcelain made in China were regarded as priceless by Europeans in the period of Rome empire.

Insiders pointed out that China is still an emerging economic country, but China has once been the center of the world's culture and economy. It has 5000 years of history and rich cultural treasures. Therefore, China can not just be a big consumer of luxury goods, but also should be a big country of luxury goods.

At the current TOPMARQUES exhibition site, reporters found that the Chinese quintessence area was also set up to push the national brand, hoping to build China's luxury brand.

For example, the Nan Nan study in Beijing, the golden family of classical furniture, is a series of high-end home furnishings for high-end elite groups; the Cui Huang Ge brand from Beijing is exhibiting with heavyweight jade jewelry; the jewelry family Jia Da jewelry from Taiwan, with an international design team, will bring new vitality to the Emerald brand in China; Lin Xuan jewelry brings the three generation of Tian Yu's boutique series;

In the interview, the reporter learned that in the 7 years when the TOPMARQUES exhibition took root in China, a large number of Chinese high-end brands wanted to enter the exhibition. Most brands failed to participate in the exhibition because of the strict requirements of the organizers for brand image and product quality.

In 2011, after the rounds of the organizing committee's rounds and layers of screening, the famous "new flying Moutai", which was famous at home and abroad, was the only invited liquor brand exhibitor to attend the event.

According to the insiders, Moutai has always been highly sought after by high-end people, with strong brand foundation and a core competitiveness that can not be duplicated, most likely to become a luxury brand in China.

As the representative of China's high-end brands, the "new flying Apsaras" was selected as the TOPMARQUES luxury exhibition. It was reflected in the world famous brands such as Ferrari, Rolls-Royce, Lamborghini, Citibank, ShanghaiTang, Baccarat and so on, which further highlighted the popularity and influence of the "new flying Apsaras" in the high-end field, and also proved the recognition of the world fashion industry to high-end brands in China.

Yan Bo, the founder of the "new flying Apsaras" brand, said, "who says that Chinese people can't build luxury goods? My goal is not just to be a luxury in China, but to be a luxury in the world.

"This is his goal and I believe it is also the direction of efforts for many high-end Chinese national brands.