Analysis Of Luxury Consumption Structure In Emerging Markets

There are some signs that the super rich in emerging markets are playing big cards. Luxury goods The love has diminished, or the rich have become more discerning in the face of luxury.

However, fashion shops in Milan and Paris will not ignore the potential of emerging markets, because for many emerging market people, success and status seem to be inseparable from the Chanel logo on the handbag or a Omega on the wrist.

So in some ways, the sale of luxury goods in emerging markets can often be used as an indicator of the prosperity of their economic activities. Credit Suisse has surveyed 14 thousand customers from 8 countries (Brazil, China, India, Indonesia, Russia, Saudi Arabia, South Africa and Turkey) to learn about their plans to buy luxury goods this year, and what high prices those customers are willing to pay for.

On the whole, consumer confidence is improving. 37% of the survey participants expect that their financial situation will improve in the next 6 months, and only 9% think their personal financial situation will deteriorate. Moreover, the richest group of respondents is most optimistic about the future personal financial situation. Consumers in Brazil, China and Indonesia seem to be ready to start a shopping carnival.

 

According to FT Alphaville quoted Credit Suisse research team,

Brazil, China and Indonesia have the most optimistic consumer financial prospects. On the contrary, South Africa, Russia and Turkey are relatively pessimistic in this regard. Among them, the number of Chinese consumers who are optimistic about the future financial situation has increased from 31% in 2011 to 39% in 2012.

Brazil consumers seem to plan to buy all kinds of luxury goods from the categories of luxury goods planned by emerging market consumers, but there seems to be a slight decline in the consumption of luxury goods in Chinese consumers' plans, especially in the case of luxury goods. Leather and fur Products. Previously, the fourth quarter results of Richemont, Cartire's luxury brand, showed that sales in Asia were mediocre, and we can see the signs from then.

 

This is for Chanel, Dior, Burberry and others. Armani It is no doubt that such brands are bad news. These brands are the most popular brands in China. It is easy to see that brands with history and accumulation are very important to Chinese consumers, so the new brands like Mulberry will not be affected.

 

The more popular brands in Brazil are Hugo Boss, Lacoste and CK. The impact of these brands will not be so great.

 

In general, the consumption structure of emerging markets is changing, and disposable personal spending will return to the right track. The future consumer outlook is also optimistic. The global luxury brands will still be the biggest beneficiaries of revenue growth.