Domestic Luxury Consumption Of Men Is Shifted To Women By Heavy Consumption Of Luxury Goods

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< p > Bain (Bain), the latest China luxury market research 2013, shows that the Chinese luxury market in 2013 has further slowed down, with a growth rate of only about 2%, which is lower than 7% in 2012. Among them, the sale of men's < a href= "http://www.91se91.com/" target= "_blank" > clothing < /a > and watches category even dropped to two digits. < /p >
< p > "I heard many brands have been greatly affected, especially watches and Menswear, on the one hand is the overall economic slowdown, and the blow to corruption is also the reason that these two categories of luxury brands have been greatly affected." A luxury brand executive told reporters. < /p >
< p > Bain also predicted that the macro environment in 2014 is expected to remain unchanged and the government will continue to implement and promote anti-corruption work. < /p >
< p > < strong > men's luxury has been hit hard < /strong > /p >
< p > according to the bain report, the most robust watch category was the most serious in the past. The sales growth rate of this category in the Chinese market was 40% in 2011, but in 2012, it dropped rapidly to 5%, and this year it deteriorated further. Sales fell by 11%. < /p >
< p > MontBlanc's undercurrent in the Chinese market has also appeared in its earnings report. In the 6 months ended September 30, 2013, MontBlanc's global sales fell by 3%, and its operating profit dropped by 55%. MontBlanc's performance in the famous brand of watches and jewellery brands has also slowed down sharply. < /p >
< p > 2013, the global sales growth rate slowed to 4%, and operating profit dropped by 1%, of which Asia Pacific market, which accounted for 40% of the peak sales, was the worst, with an increase of only 1%. The largest market in the Asia Pacific region is China's Hongkong and the mainland, but the growth of the Asia Pacific region in the first half of 2013 was mainly contributed by Hongkong and Macao, China. The performance of these two markets offset the lower sales performance of the mainland market. < /p >
< p > it is worth noting that before the Chinese luxury market entered the cold winter, the European and American markets were still in the crisis recovery period in 2010 and 2011. The peak sales growth rate in the world has reached 33% and 29% respectively. < /p >
< p > in the men's clothing category, Hongkong's "a href=" http://www.91se91.com/ "target=" _blank "textile" /a "," Li Feng Group "and the senior men's wear retailer Li bang in the first half of June 30, 2013, sales and profits also declined, of which sales revenue fell 2.1%, mainly due to the same store sales in the mainland fell by 10.2%, while net profit was reduced by 43.4%. In the third quarter of this year, the HUGO BOSS (Hugo Bos), a luxury brand dominated by men's clothing, also slowed to 4% in the Asia Pacific market, led by China. < /p >
< p > < strong > transfer to female consumers < /strong > /p >
< p > for the future direction of the Chinese market, Nick Hayek, chief executive of another watch brand Swatch (Swatch) group, said in an interview with foreign media that the Chinese market is expected to resume in the second half of the year. But HUGO BOSS has changed its previous optimism. The group's CEO Claus-Dietrich Lahrs recently told investors conference in Hongkong that the Chinese market will hardly return to double-digit growth in the next few years, and the Chinese market will be difficult. < /p >
The bain report also predicts that there will be no significant changes in the two factors leading to the cold market in China's luxury market next year. First, the macro environment is expected to remain unchanged, and the government's anti-corruption work that has a direct impact on the luxury gift will continue to be implemented and pushed forward. P < /p >
< p > "corrupt consumption itself is unreasonable. It is the moisture of the Chinese market itself. In the future, the Chinese luxury market will return to reason, and it will not grow as fast as it used to be. It is the growth of digits." The above luxury brand executives think. < /p >
< p > if the Chinese luxury market that plummeted last year has made some luxury brands unprepared, this year's major luxury brands will also adjust their strategies to cope with the changes in the Chinese luxury market, turn to meet the needs of female consumers, and launch more fashion products for women. < /p >
< p > recently, the focus of the "a href=" http://www.91se91.com/ "target=" _blank "shoes" /a "luxury brand TOD" S launched the first fashion show in Milan, and will launch the women's wear product line in China. Hugo Bos, who focuses on men's clothing, will also introduce women's clothing to China. In June this year, she hired American Chinese a href= "http://www.91se91.com/" target= "_blank". Designer /a /a Jason Wu served as artistic director of women's clothing to enhance the influence of women's clothing. < /p >
< p > Bain also observed that LV (Louis Vuitton) is also upgrading its stores this year to allocate more space for women's clothing and enhance clothing consultation in sales. < /p >
The adjustment of all these strategies is based on the fact that despite the slow growth of China's overall luxury market and the greater impact of men's products, China's luxury goods market and women's consumer oriented products and fashion series show strong growth momentum. Bain believes that China's luxury goods market has shifted from the male consumer dominated category to the female consumer dominated category in the past, and is more similar to the mature market in Europe, such as Europe. P < /p >