What Do Chinese People Buy?

Lan Xiaohuan, a PhD student in the Department of economics and a researcher at the Yangtze River Business School, University of Virginia, said, "showing off" is an important goal for many Chinese people to buy luxury goods. "The target customers of luxury consumption are not Gates and Buffett, but the massive white-collar workers who really support the market."

They can't afford to buy a yacht plane, but they are eager to attract attention. "

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< p > < < a href= > http://www.91se91.com/news/index_c.asp > purchase > /a > type, Chinese tourists prefer clocks, a href= "http://www.91se91.com/news/index_c.asp" > Jewelry "/a", leather goods, perfume and a href= "/a".

Coincidentally, KPMG's "China luxury report" released shows that the overall prosperity of Chinese consumers is not high, most of the consumption is concentrated on clothing, perfume, watches and other personal products.

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< p > the statistical bulletin of the National Bureau of statistics in 2011 shows that the per capita net income of rural residents in China is 6977 yuan per year, and the disposable income per capita for urban residents is 21810 yuan per year.

Lan Xiaohuan believes that just because Chinese consumers have just reached such a level, the world's major luxury goods manufacturers love the Chinese market.

"A large number of people are rich enough to afford, and most of them have to live frugally for a few months.

The price and the heat are very accurate.

Lan Xiaohuan ridiculed the conspicuous consumption of Chinese consumers.

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Faye Wong, a researcher at the Cheung Kei luxury research center of the University of foreign trade and economics, said that this conspicuous consumption psychology is not a unique phenomenon in China. P

She believes that luxury goods, especially luxury goods, are a more convenient option when consumers fail to find a better way to display their wealth and status.

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Besides P, there is another "herd mentality" affecting Chinese consumers.

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< p > "conformity is perhaps a characteristic of many Chinese consumers."

Moreover, in Faye Wong's view, "conformity" and "show off" are inextricably linked. "White collar workers in the same office or the same office may also buy the same or similar luxuries when they see the other person spending some luxuries.

Behind this "conformity" behavior, there is also a display of "showing off" mentality that has similar abilities, wealth or status to the other party.

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< p > "luxury consumption is culture."

The essence of this culture is to take noble lines and create noble atmosphere.

In LAN Xiao Huan's view, the cultural connotation of luxury goods is the focus of luxury consumption.

Faye Wong also agreed: "the price of luxury goods is much higher than its cost, and consumers are more about their consumption of added value.

The added value comes mainly from the culture behind luxury goods.

In view of this, most Chinese luxury consumers who sweep overseas goods may not be very concerned about this cultural connotation.

Sweeping goods like supermarkets rush to buy Promotional products is not in itself "noble".

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< p > "luxury is not a necessity. Luxury consumption emphasizes not price, but the joy it can bring to people."

Faye Wong believes that the focus of the two word "luxury" is not "price" but "experience".

But it seems easy for Chinese consumers to equate "luxury" with "pricey".

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According to the report of P KPMG, in the developed countries, people spend 4% of their income on luxury goods. In China, many consumers purchase luxuries with 40% or more of their income.

Many Chinese tourists to Europe will spend more than 1/3 of their travel budget on shopping. They prefer to spend money on food and housing to buy luxury goods.

"Sleeping cheap houses and buying high-end goods" has become a description of Chinese tourists in European tourism.

"At present, Chinese consumers are more concerned about physical luxury consumption, and less attention is paid to experiential luxury consumption such as high level artistic performances, high-end customized tourism."

Faye Wong said.

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< p > however, changes are taking place.

"Rent a Beneteau sailing boat that can carry 15 people. The rent for three hours is about 5000 yuan.

A 20 Alexander boat can be rented, and it costs about 5000 yuan an hour.

According to a person in charge of the South China Sea Yacht Club in Sanya, Hainan, the age of individual tourists is usually around 40 years old, most of which are played by family members.

Unlike the yacht tenants of the business type, these young tourists who are on vacation with their families do not need to consider business etiquette or face. They hire their yachts or sailboats mainly to relax and experience the life of "sea knights".

"What tourists care about is not whether the experience is expensive or not. What they care about is whether the experience is happy or not."

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< p > when you have 5000 yuan in cash, are you willing to buy a famous brand bag or are you willing to spend three hours on the sea by sailing? < /p >

If P sells wine only, it will certainly not sell liquor in Chinese foreign wine. If foreign wine sells "Chinese style", the situation may be very different.

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Yang Qingshan, a luxury goods research expert, told reporters that luxury Chinese "P" must integrate Chinese culture and brand in order to succeed.

Bao Bao has introduced a "Chinese calendar", the five elements of China, time, zodiac and other elements concentrated on a small piece of mechanical watches, a sensation.

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< p > now, in the attempt to deepen sinicization, luxury brands are seeking to identify with Chinese consumers in culture.

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< p > price increase is far lower than China's strategy for overseas luxury adjustment. < /p >

< p > on the occasion of China's domestic high-end luxury consumption in the doldrums, the international luxury brands such as Chanel and Cartier once again started the global price increase.

However, a reporter survey found that although Chanel and other brands in the overseas market increased by 10% to 15%, but the domestic classic price increase of only about 3%.

The high-end shopping malls in Guangzhou revealed to reporters that under the impact of eight regulations on high-end consumption in China, fashion luxury goods are obviously more resistant to cold than local luxury goods.

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< p > < strong > the difference between domestic and international prices narrowed < /strong > /p >

< p > recently, a major event in luxury circles is that Chanel has gone up again.

Since mid April of this year, Chanel (Chanel) has raised the price of Classic Flap series medium and large price by 450 euros; the 2.25 series has increased the price of each model by 450 euros; the Le Boy series medium price rises 300 euros, or around 15%.

Reporters found that not only Chanel, the French jewelry brand Cartier increased 6% to 10% from April 21st, followed by Italy brand Ferragamo notified the average price of some commodities 400 yuan.

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< p > data released by the US labor department show that the price of luxury goods has 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 a 32% increase, while Chanel 2.55 has increased by 20 times in 60 years.

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< p >, however, it is also a rise in price. A press survey found that the price of Chanel 2.55 classic shoulder bag in Guangzhou was increased from 41200 yuan to 42500 yuan, or only about 3%.

Why did the growth rate not keep pace with the overseas market? Chanel sales staff told reporters that this is the brand's price strategy, the purpose is to narrow the price gap between domestic and overseas markets.

Reporters also learned from Libo and other high-end shopping malls in Guangzhou that many luxury brands have begun to adjust the price gap between domestic and overseas markets from last year while upholding the price increase. Moreover, the supply of domestic styles tends to be more updated and richer than Hongkong and even overseas markets.

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< p > > strong > why luxury brands have fallen in the "quality gate" below < /strong > /p >

< p > the exposure of luxury quality in recent years has brought the former sophisticated products to the altar and become a new topic that has been criticized and criticized by others.

When the relationship between product value and quality has been increasing proportions, luxury goods have gradually opened up the veil of mystery.

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< p > luxury goods are called luxuries, mainly due to their different quality and cultural backgrounds.

Rare, unique and rare attributes that belong to luxury goods make them a necessity for high-end luxury consumption.

However, in recent years, the exposure of luxury quality problems has brought the previously sophisticated products to the altar, and become a new topic of being criticized and criticized.

When the relationship between product value and quality has been increasing proportions, luxury goods have gradually opened up the veil of mystery.

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< p > indeed, the quality problems of luxury goods exposed in China in recent years are particularly numerous. What causes them to be abandoned by the "quality gate"?

The main reason lies in the rise of primary and developing markets.

In the face of high profit margins, luxury groups could not overlook the opportunity to make money quickly.

The rapid promotion of brand sales network and expansion of market share have led to a continuous increase in the volume of products, so the quality is not guaranteed as usual.

The purchasing power of new luxury goods, such as a flood of animals, has pushed the productivity of the minority luxury goods to saturation.

So the luxury industry now has an open secret. They have put a lot of foundry factories in developing countries.

It can be imagined that originally extravagant non essential items originate from traditional handicraft shops or brand origin, but now it has become the product of the assembly line in factories, so the quality control makes it difficult to keep improving.

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