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Luxury Brands Focus On Raising Prices To Maintain High And Luxurious Young Consumers.

2014/5/27 21:13:00 34

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China < a href= "http://www.91se91.com/news/index_f.asp" > luxury goods < /a > the market bid farewell to the two digit growth era. 
 luxury goods market is polarized. 
 top luxury goods continue to be "high profile". 
 "it was like playing a game." You only need to build brand awareness as soon as possible to make money, but now that honeymoon is over, Western brands are catching up with the most critical consumers in the world when they enter the Chinese market. In May 15, 2014, David Roth, vice president of 4A advertising company, complained to reporters. 
 David Roth has served many luxury brands, witnessing the development of China's luxury goods market from scratch to global favorites, and now to many luxury goods big love and hate. 
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 watches and menswear sales decline significantly less than /strong > /p >
 according to the report released by Bain consulting company and the Italy Luxury Association, the global luxury market in 2013 was 217 billion euros (about 18497 billion yuan (6.2488, 0.0096, 0.15%)), an increase of 2.2% over the same period last year. The double-digit growth era has become the past, and the explosive growth driven by the Chinese market is no longer there. The report pointed out that the global market for luxury goods in 2014 pointed out that the growth rate of 2%~4% in the Chinese mainland market was far lower than that in the Japanese market, which was caused by the depreciation of the Japanese yen, which led to the growth of 9%~11% in the Japanese market, even less than the growth rate of 3%~5% in Hongkong and Southeast Asia. 
 as of May 2014, the annual reports and the latest quarterly reports of the major luxury brands have been released. From the earnings report, the days of the luxury goods giants are really tough. The latest report of LVMH group, the world's largest luxury goods group (owned by LV and many other brands), shows that the group's first quarter sales increased by 4% over the same period last year, including the decline in operating income of the red wine and fruit wine sectors, making the growth rate of LVMH group on the Chinese market continue to slow down. Meanwhile, luxury goods companies such as Richemont have also said they will slow down their expansion in China. 
 for the changes in the Chinese market, the 2013 "luxury market research" released by Bain said that in the luxury market, sales of watches and men's clothing declined significantly. A related person told us that anti-corruption has great influence on the luxury gift. Last year, Mid Autumn Festival and other traditional Chinese festivals, shopping malls and restaurants have discipline inspectors to check shopping cards and feast their consumption. "From luxury cars to watches, from high-grade" a target= "_blank" href= "http:/ /www.91se91.com/ > dress < /a > to shark fin sea cucumber, all have an impact." 
 in addition, with the development of overseas purchasing market, many young consumers are no longer restricted to exclusive stores to buy luxury goods. Cinderella, a white-collar worker in Beijing, likes to buy "entry level luxury" at ordinary times. She told reporters, now who will go to the exclusive shop to buy bags? Unless there are more money than flowers. My colleagues and I are looking for friends to buy, a bag can be one thousand or two thousand yuan cheaper. Cinderella laughed and said, "maybe someday I'll go shopping for luxury goods." 
Although P is facing challenges, it is undeniable that the Chinese market is still the target of international luxury and luxury companies. According to the above luxury report released by Bain, China's luxury goods accounted for 29% of the global market in 2013, far higher than 22% of the US and 21% of Europe. 
 McKinsey Co global director An Hongyu (Yuval Atsmon) told reporters that although China's market growth has slowed down, the potential of luxury consumption in China is still far greater than that in any other country. China will also become the biggest demand engine for global luxury goods. 
 luxury luxury brand centralized price increase 
 facing the low-speed growth market, the luxury luxury brands began to raise the pricing of commodities collectively and continue the route of < a href= "http://www.91se91.com/news/index_h.asp" > tall > /a >. 
 reporter survey found that from mid April 2014, Chanel [micro-blog] (Chanel) increased the price of the Classic Flap series medium and large price by 450 euros; the 2.25 series rose by 450 euros per model; the Le Boy series medium price rose 300 euros, or around 15%. Some people sigh with emotion: in 1955, when Chanel released the first 2.55 package, it sold for 220 dollars, and now it costs at least 4830 dollars to buy this classic bag. In less than 60 years, the price of Chanel 2.55 has increased 20 times. Data released by the US labor department show that luxury goods prices have risen by 60% over the past 10 years. Among them, Hermes' Hermes' classic Kylie bag has been raised from $4800 to $7600 over the past 10 years, and LV's Speedy package also has 32% gains; jewellery brand Cartier[micro-blog] raises 6% to 10%. 
 for this reason, Pedraza, President of the luxury Research Institute of New York Research Institute, thinks that one of the intentions of the old luxury goods price increase is to distinguish between their own products and cheaper entry level luxury goods, hoping to maintain "high profile" to maintain their image. 
 Bain company's luxury report also points out that the product line of < a href= "http://www.91se91.com/news/index_s.asp > > luxury goods market < /a > is polarizing. When luxury goods go up and prices go up, the "entry-level" light luxury is playing a "cost-effective" brand, which is closer to young consumers. 
 2013, China's luxury market has bid farewell to the two digit growth, and many brands have become more and more conservative for stores. 
 light and luxurious young consumers > /strong > /p >
 although Bernard Arnault, chief executive of luxury goods giant LVMH, has constantly declared that light luxury and luxury goods are two words, it can not be confused. Luxury is not a luxury category, but this explanation can not stop the favor of the Chinese market for light luxury. 
 the industry defines "Affordable luxury" as "affordable luxury goods." Specifically, there are moderate prices, popular designs, good quality, and store brands in high-end shopping malls. At present, the most representative light luxury brands on the market are Michael Kors, Coach, Kate Spade and some luxury products, such as MCQ, Giorgio Armani, Emporio Armani and so on. 
 the characteristics of these brands are that they possess both the "gene" and the style characteristics of luxury goods. They have great sense of design and uniqueness, and take into account the relatively young and changeable mentality of consumers. The most important thing is that the price of light luxury can be extended downward, so that more people can afford it. Zhou Ting, President of the Institute of wealth research, said that with the gradual growth of consumers and the improvement of information transparency, the premium space for luxury goods has been further reduced, and consumers have begun to pay attention to "cost performance" when purchasing luxury goods. 
 in the light luxury brand, Michael Kors has the most outstanding performance. It not only stands out in the light luxury camp, but also makes all brands "envy, envy and hate". At present, the company's latest market value has risen to 19 billion 200 million dollars, becoming the world's fifth largest luxury goods business, close to the fourth ranked Prada 'Prada'. Data show that Michael Kors sales in 2013 10 - December sales of $1 billion, an increase of 59% over the same period last year; retail income 503 million 400 thousand U. S. dollars, an increase of 51.3% over the same period, which is Michael Kors thirty-first consecutive quarterly growth. You know, this company was listed on the New York Stock Exchange [micro-blog] at the end of 2011, and now it has become the most successful listed fashion group after the financial crisis. In the past two years, the stock price has increased by 300%, creating the myth of the capital market. 
Similarly, the US fashion brand Coach, which has opened a physical store in 49 cities in China, is also proud of the Chinese market: its sales in the Chinese market in the 2013 fiscal year (July 2012 to June 2013) increased by 40% over the same period last year. 
 light luxury and luxury goods, which is more suitable for China's "a href=" http://www.91se91.com/news/index_s.asp "market < /a"? Perhaps, as the economist said, "China's consumer market is now one of the most complex consumer markets in the world, and Chinese consumers are increasingly seeking high quality, but they are also increasingly conspicuous. They are complicated and capricious.