How Will Women'S Luxury Products Develop In China?

< p > although China's high-end female consumers are increasingly interested in luxury goods, it is not easy for luxury companies to achieve success. According to the wealth Quality Research Institute, the loyalty of female consumers to luxury brands is only 10%, which is far lower than that of male consumers' loyalty to luxury brands (26%). Moreover, women are more willing to spend time understanding and experiencing new luxury brands and products.

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< p > < strong > female pursuit of "cost-effective" luxury goods < /strong > < /p >

< p > China's luxury consumption has two different points compared with that of foreign countries: first, most of the luxury goods purchased in China are young people under 40 years old. In developed countries, the market is dominated by 40~70 year old middle-aged and elderly people. The average level of luxury consumption in the world is about 4% of their personal wealth, and the survey shows that some of China's young female consumers spend more than 40% of their annual income on luxury goods.

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< p > the observation of Zhou Ting, President of the Institute of wealth and quality, is that on the one hand, the characteristics of "youth and wealth in the accumulation stage" determine that Chinese women are very sensitive to the purchase of luxury goods and often pursue the concept of sex price. The discount of luxury brands is very attractive to women.

Domestic luxury goods are rarely discounted, so the two discount season in Europe often makes Chinese women travel overseas.

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P, October 7, 2013, Paris's famous Lafayette department store, where Chinese tourists are shopping everywhere, the same scene is also staged in London. According to the daily mail of London, Chinese tourists in the streets of London are very rich. According to a recent survey, an average Chinese tourists spend an average of 1600 pounds (15 thousand yuan) in the UK, almost 3 times the average consumption level of tourists in other countries.

According to the World Luxury Association report, Chinese luxury goods purchased in the European market in 2012 totaled nearly 50 billion US dollars, which is 4 times the domestic market, and Chinese luxury goods consumption abroad has become the number one in the world.

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< p > "in our long-term market research and business practice, we find that consumer demand for high-end luxury goods is increasing, especially in emerging markets such as China, but not every consumer can afford the luxury products like Cartire jewelry. It is even less likely for the luggage and luggage to focus on functional products. Therefore, from the price point of view, the" new luxury "of Black Label positioning is a luxury that makes consumers feel value for money and full of personal taste. This new positioning is reasonable, said Ma Ruiguo, vice president of Samsonite Greater China.

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< p > < strong > China's high-end female consumption shows a trend toward LOGO, < /strong > /p >

Chen Jie, co-founder of RTG luxury brand management consulting firm, who has served Tiffany, Mercedes Benz and Heuer watches, believes that luxury brands are not the only choice for Chinese women. Now more and more a target= "_blank" href= http:// www.91se91.com/ "designer /a" brand and light luxury brand are attracting consumers' attention. They are more willing to choose brands that understand or even interpret their lifestyle.

The pursuit of wind and fascination with LOGO has become a thing of the past. Chinese women now pay more attention to whether the connotation of the brand is close to itself.

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< p > this phenomenon reminiscent of a message released by Louis Vuitton of Paris fashion week in 2013: "Monogram and Damier Canvas series of Louis Vuitton will not appear on T stage in the future."

This implies the brand new strategy of LVMH group, which indicates that this luxury magnate will play a more and more role in weakening its trademark and not selling its logo cheap and rudely.

Roughly the same as Louis Vuitton, Burberry, with its prominent grid as visual element, announced that the logo pattern should be removed on nearly 80% of the products.

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The LVMH group of P Louis Vuitton and the PPR group belonging to Gucci group in the first quarter of 2013 showed that the sales growth of the two most important luxury goods in China were all single digits. On the contrary, the brand growth of logo, such as Prada and Bottega Veneta, was very high.

All these show the changes of domestic consumption trends and show the arrival of the "logo" consumption era.

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< p > the gradual maturity of luxury female consumers in China makes the scale of rational consumer groups growing.

Zhou Ting believes that women in the first tier cities have gone to LOGO trend, followed by branding, high-end women do not need symbols to prove themselves, pay more attention to whether the brand is in line with their personality, whether the service is good, and whether the product is in line with their temperament.

Most luxury consumers have shifted from their passion for brand Logo to focus on low profile, unique and high quality brands.

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< p > < strong > women promoted wrist watch, leather ware and < /strong > a target= "_blank" href= "http://www.91se91.com/" > strong > dress > /strong > /a > < strong > "". "

< p > World Manager website research shows that luxury women's bags, clothing and high-end brand watches become the three largest categories of luxury goods purchased by women.

More than 50% of women bought luxury brand women's bags, nearly 40% of women bought women's clothing, and 30% of women bought high-end brand watches.

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< p > "because women are a huge group in China, their consumption tendency has formed a trend to promote the fast fashion and popularization of watches, leather goods, clothing and clothing in the three major fields."

Zhou Ting said.

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Less than P, for example, the high-end watch market, the entry of fashion brands is an important promoter for the fashion of high-end watches.

The rapid growth of women's high-end watches market is also an important reason to accelerate the fashion of high-end watches. Women care more about the decorative function of watches than male consumers, and have more desire for jewelry, diamond and other materials.

We used to buy timepieces and watch the timing function. Now the communication is so developed that more female consumers are decorating. They use the watch as an accessory or a jewellery to buy and use it.

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< p > high-end watches as a luxury, has always been considered as a symbol of identity and financial resources, but this situation is changing, high-end watches as an important manifestation of a quality lifestyle, is facing unprecedented popularity.

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< p > < strong > women's family dominance gave birth to luxury derivatives market < /strong > /p >

< p > in a list of the richest female entrepreneurs in the world, China accounts for 11 of the top 20.

In China, in addition to those super billionaires, wealthy middle class women have gradually become the mainstream social groups that can not be ignored and become the main group of luxury goods buyers.

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< p > "these high-end women are family leaders in China and have the ability to manage family wealth. Their self consumption consumption derives from the luxury consumption derivatives market of children, husbands and other important family members."

Zhou Ting said that big brands of luxury goods have entered the market of children's clothing as an example.

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< p > the domestic children's wear market has risen from less than 50 billion yuan 5 years ago to 100 billion yuan. The luxury brands have joined the market. Gucci, Burberry and Dior have launched 0-12 year old children's clothing, a href= http://pop.sjfzxm.com/popimg/fz/index.aspx, underwear, /a and accessories.

Many fashionable mothers are willing to draw a "little princess and little prince" from their own luxury fund. In their view, the children are the mini version of their husband and wife. They see their fashionable taste extends on their children.

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< p > Chen Jie believes that the influence of female consumers on male consumption behavior should not be underestimated.

If a luxury brand is relatively balanced in terms of gender products, it can make use of female influence to create consistent brand information compatible with male consumers, and take effective measures to enhance brand awareness in both markets.

He suggests that when developing luxury brands, brands need to study carefully how to match the information conveyed by brands to consumers, and integrate them into products, retail and market communication.

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