The Current Situation Of Luxury Consumption In China

In 2011,

In the survey of rich people, the report found that the more rich people care less about Logo, the richer the richer the personalized experience and customized services, the more wealthy Chinese rich people prefer customized products, and the way of wealth freedom to personality freedom is custom-made.

Coincidentally, in the first half of 2012, the major luxury brands also branded the custom wind, blowing the customized horn from Burberry to Louis Weedon's brand-new customization center in Shanghai. Luxury brands are beginning to pform from selling products in the past to selling culture and selling lifestyles.

But what happens when customization meets China?

Luxury consumption in China

Over the past 20 years, luxury consumers are also growing. From the initial need of brand Logo to highlight their social status and wealth, they began to pursue personalized products.

This is because with the accumulation of luxury goods, the role of class symbols that they represent is obviously reduced. It is hard to see the difference between you and me from a luxury item. At the same time, China's rich group is learning the taste of consumption and quality consumption, and learning speed is very fast. Now they need to express themselves differently. A luxury brand gradually converging is difficult to meet the higher consumption needs.

Therefore, the Chinese rich will choose some unique products that are suitable for their own consumption while others are not consuming.

More importantly, the modern society has developed into a consumer oriented business era. The personality and connotation of consumers endow the diversification of brand connotation. The more high-end consumers reject the brand personality advertised and emphasized, the more they expect the matching of product personality and personal characteristics.

The customization trend is actually a change from the loyalty to the product brand to the quality of the product. The ultimate manifestation of loyalty to the product quality is customization. Who caters to this market trend, who can win the recognition of the market quickly and win the fast development.

Of course, Chinese traditional culture makes the Chinese rich pursue a low-key luxury, which will speed up the development of customized market in China and create space for the development of niche brands.

However, is "customization" a market strategy or a market service means for a brand?

Through the observation and research of the Institute of quality and quality, the customization is defined as three levels: first, the customization under the brand is actually a pseudo customization, and the consumer can only make the so-called customization in the range of the brand's choice.

The two is customization on the top of the brand, which can meet the needs of consumers individually.

This customization is still based on the brand itself, the core value is still the brand, customization is an additional service of the brand.

The three is free customization. Consumers can take full consideration of any brand factors and achieve complete free choice. This is based on product consumption, which is based on the existence of service brand rather than the existence of product brand.

This level of customization is free customization.

He Bin, general manager of Kiton, a custom menswear brand, said: "customization is just a daily service mode of Kiton. There is nothing special about it. Kiton never deliberately emphasizes customization. It runs through the daily operation of Kiton, and provides customers with the unique products they want."

Luxury brands have a very rich product line, usually creating a "Pyramid" product structure to provide different products for different consuming groups.

For example, new wealth people may start with the basic funds at the very beginning. With the accumulation of wealth, they may go to a higher level of classic money. But then they will pursue the expression and individuation of themselves, and customization is known as "luxury in luxury goods".

Therefore, customization and standards are adapted to the needs of consumers of different levels, perfectly retaining different consumers and upgrading consumption.