Luxury Brands In China: Consumption Is Becoming More And More Popular

Ten years ago in China, Luxury goods It is only the "face" of the rich. After ten years, luxury goods have become the new wardrobe of many ordinary people. Every year in China, many consumers become strong supporters of international luxury brands and high-end consumer brands, and more and more luxury brands compete for Chinese market share. Obviously, we have seen the powerful power of China's consumption.

International strategy consulting firms Bain has revealed that in the past two years, China's luxury market has been showing an unprecedented strong growth. According to Bain's preliminary assessment, the total consumption of luxury goods in China in 2011 is over 270 billion yuan, and the annual overall growth rate is expected to be between 25%-30%.

Survey object: Chen Guohua, male, born in 1974, the Department Manager of a large state-owned enterprise is rich in family and is a typical "rich two generation".

Search: Jaeger-LeCoultre Global Limited men's watch, the price exceeds 400 thousand yuan; Hermes tie, the price exceeds 4000 yuan; Zegna suit, Xinguang heaven and earth customization, the price exceeds 40 thousand yuan.

He said luxury: "I only recognize the brand, brand is the quality." In my house, the most valuable one is the safe, with ten items in it, plus 5 million yuan. I don't think those are luxuries, because I can afford them. "

Respondents two: Li Miao, male, born in 1981, business manager of a well-known foreign company has a higher annual salary and belongs to the middle class.

Body search: male LV bag, the price exceeds 10 thousand yuan; BOSS suit, the price exceeds 10 thousand yuan.

He said luxury goods: "my monthly salary 20%-30% is used to buy clothes, because we often see foreign customers, wear bad face. Luxury is actually my face. "

Respondents three: Mai Mai, female, born in 1988, a TV station exit host, belonging to the "moonlight clan".

Search: CHANEL women's bag, the price exceeds 10 thousand yuan; DIOR "true me" perfume, the price exceeds 1000 yuan; LV wallet, the price exceeds 5000 yuan; DIOR high heels, the price is over 8000 yuan.

She said luxury: "I pay half of my clothes and cosmetics, and half of my boyfriend pays." There are few luxuries in this year, but there are not many girls who pay for them like me, so I always say to my boyfriend, "hold on to me."

Among the 50 respondents with higher income and multiple luxury brands, the number of people who share the same views with the above three respondents is not in the minority. Many people no longer regard these international brands as luxury goods. In their words, real luxury goods are brands that have not been heard nor seen. They have become the representatives of luxury consumers in China.

In Bain's latest launch this year. China luxury market research 2011 The report shows that since 2010, the total consumption of luxury goods by Chinese consumers has reached about 212 billion yuan, ranking fifth in the world, while the consumption of luxury goods in Greater China, plus Hongkong and Macao, ranks among the top three in the world. China's luxury consumption has come to an age that can not be underestimated. With this recognition, whether the internationally renowned luxury brands, or unknown foreign brands with high price, are looking at the Chinese market, the market which is known as the top of Pyramid is flat, but now the competition is becoming increasingly fierce.

　　 Survey: 50% of respondents said they had more than 1000 yuan single products.

In view of hundreds of young and middle-aged elite surveys born in the 70s and 80s, 53.33% of respondents said they had more than five famous brand clothes and clothing items with more than 1000 yuan, and 26.67% of respondents said they had only one brand name clothing worth more than 1000 yuan, and that they had five or more respondents who accounted for more than 1000 yuan of single products, accounting for 13.33%. "Now you can see people carrying famous brands and famous brands on streets and alleys. When students gather together, they should always wear their big brands to show off, otherwise they will not be able to face. Even if I don't get enough pay, I will save money to buy it. " Little demon (pseudonym) is one of the 53.33% of the respondents, and she speaks a lot about the aspirations of the 80's luxury pursuers.

When the respondents considered that the price of a single item (clothes, bags, shoes) exceeded the price of many yuan, they would not consider buying, 46.67% of respondents said they would not buy more than 5000 yuan, 33.33% of respondents said they would not buy more than 2000 yuan, and 20% of respondents said they would not buy more than 10000 yuan. Obviously, everyone is gradually expanding the acceptable level of luxury price.

When asked what kind of high-end items the respondents liked most, 26.67% of respondents chose crystal, diamond and gold. 20% of the respondents chose leather bags, 20% of them chose watches, and 13.33% of them chose shoes and clothing respectively. "Crystal, diamond and gold are not only beautiful, but also preserve value. Compared with clothes, bags and other famous brands, they can not be worn after the season. The age of these accessories can be extended indefinitely." Those who support jewelry say so.

When asked about what actions the respondents would take when they entered a high-end shopping mall and saw their favorite high-end brand goods, 33.33% of the respondents said they would not buy anything immediately, and 33.33% of the respondents said they would continue to visit other brands. After that, they would consider whether to buy or not. 26.67% of the respondents said they would carefully study and ask the salesmen about the details of the purchase, and 26.67% of consumers said they would not buy it even if they liked it again, because the price was too high. When asked what kind of satisfaction the respondents felt that they would get to buy the brand clothes, 33.33% of the respondents said they had excellent quality. 26.67% of the respondents said they had a lot of face to face with their customers and friends. 20% of the two people who wore and dressed to go out to show off and limited the world, and were not afraid to crash or bump into bags, accounted for 20%.

It is easy to see from the survey results that although the price of luxury brands is only one, there are numerous psychological attitudes to buy luxury brands. Many young people buy luxury brands for reasons such as face saving, ostentation and competition. But also because of the weakness of young people, many luxury brands are tired of launching the global limited edition, big LOGO bags and so on, which is to compare face to face.

　　 When will China be recognized by the world as a luxury brand?

"Generally speaking, luxuries are actually products that satisfy people's non living needs. Many famous brands in the world are luxury brands in the Chinese mind, but Chinese brands can hardly afford luxuries in the international market. This shows how China's brand can be upgraded and how to build a famous brand in the past century. There are still many places for China to learn like foreign countries. Li Fei, Professor of marketing department of Tsinghua School of economics and management, said in an interview with the clothing Times reporter.

" French brand LV It's very popular in China. In my opinion, the cost of this package is not high, but the selling price is very high. It can sell for ten thousand yuan to twenty thousand yuan. The high added value of French bags and perfume brands is far beyond our Chinese enterprises, and what Chinese enterprises should do now is how to narrow the distance gradually. " Ai Feng, chairman of the brand China industry alliance, also expressed his views on luxury goods.

But in fact, the development of luxury goods or famous brands in China is not just relying on the popularity of brands. They also racked their brains to attract and guide Chinese consumers. Li Fei gave an example to illustrate: "BURBERRY had a new product release in China last year, and its flagship store invited many stars, VIP customers and media. The scene of its activities took a lot of time and money to do it, but the conference ended in only one hour, which was a pity. Last year, they made live synchronized live broadcast. Each site distributed a iPad Internet, allowing on-site guests to upload pictures and videos of the activity site to the network, so that the global consumers could feel the charm of the brand for the first time. It is not hard to imagine how many videos and pictures that day brought much response to BURBERRY on the Internet. This may be one of the experiences that Chinese brands should learn and learn from.