China's Luxury Online Shopping Market Is Expected To Enter The Fast Track Of Growth

In 2013, China's luxury market volume grew by a record low, but it still ranks first in the world in terms of RMB 600 billion yuan. With the rapid development of e-commerce, more and more Chinese are turning to the Internet to complete their plan to buy luxury goods.

The 2013 luxury goods report released by the Institute of wealth quality shows that policy China's luxury market growth slowed to 3% in 2013, lower than the global growth level. But in terms of total size, China's luxury goods sales still amount to more than 600 billion yuan, accounting for 47% of the global market.

Compared with the past use of exit opportunities or the purchase of brand stores in China, the way that Chinese get luxuries is undergoing subtle changes. Online shopping has gradually become one of the ways of consumption.

Wei Yibo, China's CEO and co founder, said that China already has luxury brands online / offline market. For luxury brands, they already have a huge online shopping market in China.

A survey by KPMG, an accounting firm, found that more and more Chinese consumers are using virtual private networks (VPN) to visit overseas brands and third party websites to buy luxury goods. This also provides opportunities for some e-commerce enterprises that sell luxury goods as the main business.

In 2009 and 2010, the charm of setting up an e-commerce platform in Japan and China has increased by an average of 92% over the past four years.

At the same time, KPMG's survey also admitted that high-end luxury brands have not "fully leveraged the wave of China's rapid growth of e-commerce", just like other retail products. Statistics show that among the 60 top luxury brands in the world, the proportion of online stores in China is only 1/12.

"Luxury is making a slow progress in formulating e-commerce strategies in China because they are busy expanding their network in China. In addition, they did not expect Chinese consumers to switch to online shopping at such a fast pace. Wei Yibo said.

Although the strength and demand of Chinese consumers online shopping luxury are huge, online selling counterfeit products Luxury goods The phenomenon is also worrying.

KPMG China retail and consumer goods Qian Yixin, the industry's managing partner, said that in the luxury online shopping, the after-sale and rights protection services of consumers and the authentication and authentication of products have always been a challenge, and the quality assurance of products is also a difficult problem.

It is worth noting that as the largest online consumer market in the world, China is beginning to purify the overall environment of e-commerce.

At the beginning of the year, the relevant leaders of the National Leading Group on combating infringement and counterfeiting revealed that this year we will focus on the infringement and counterfeiting in the Internet field, so that the relevant crimes can be effectively curbed. In addition, Alibaba and other local e-commerce enterprises have increased their self checking efforts on the behavior of merchants entering the market.

Industry experts believe that China's luxury online shopping market is expected to enter the track of rapid growth.