Where Is The Luxury Consumption Boom?

Here world clothing shoes The Xiaobian of the hat net told us that luxury goods continued to cool in China, and sales reached the lowest level in ten years.

In recent years, with the rapid growth of China's economy, people's pursuit of luxury has been surging. Chinese tourists are even regarded as "walking wallets". However, this strong luxury consumption flow is becoming calm in China.

In fact, the dim signal of luxury growth has long been issued. In 2011, when China's luxury market grew by 30% over the same period last year, it fell to 7% in 2012. In response, many industry analysts say that the most profitable year for Chinese market is over.

According to Bain consultancy statistics, in the year of 2013 (2013 stores), the scale of China's luxury goods market was 116 billion yuan, an increase of only 2% compared with the same period last year, and Chinese spending on luxury goods fell by 15%.

During the Spring Festival of 2014, Luxury goods The scene of crowded stores in the store was replaced by few people. According to statistics, the total consumption of luxury goods in China's Spring Festival is only 350 million US dollars, which is 57.8% lower than last year's US $830 million and also the lowest point in ten years.

In January 16, 2014, Richemont announced its sales performance in the third quarter of 2013 (October to December), with annual revenue increased by only 280 million to 2 billion 940 million euros, and sales in the Asia Pacific region rose 6%, an increase of 8% lower than expected. China is the only market in the Asia Pacific region with declining revenues.

The April data released by the Swiss Federation of watches and clocks also showed that mainland China had fallen out of the top three markets of Swiss watch exports, and its sales in the mainland of China dropped by 6.5% in April.

The famous luxury group KeringSA (Kai Yun group) announced its first quarter earnings as of March 31, 2014, with a sales volume of 2 billion 400 million euros during the reporting period, up 4.1% over the comparable structure (excluding restructuring and exchange rate impact). Among them, Gucci (Gucci) only recorded a comparable sales growth of 0.3%, and sales fell by 3.2% to 838 million euros based on real exchange rates.

Ranking first in the world luxury goods giant LVMH (MOET & CHANDON Hennessy Louis Weedon (Louis Weedon store) group released two quarter earnings report, the second quarter sales growth is only 1.3%. Among them, Louis Vuitton (Louis Weedon) belongs to the fashion leather department sales growth compared to the first quarter of 10.7%, down 75%.