Designer Brand Clothing Accounted For The Largest Luxury Sales List China Fell To Fourth

Euromonitor (European market research firm) latest data clearly shows that the world

The industry is fluctuating.

The adjustment of the Chinese market has led to slow growth in the whole Asian market. However, the Japanese market has ushered in the long-awaited recovery from the impact of exchange rate fluctuations. The income imbalance of small countries in Southeast Asia and sub Saharan Africa has also stimulated the consumption of high-income groups.

Luxury market in China

The amount increased by US $9 billion 600 million in the five years before 2014. Only the absolute growth of the United States ranked above China, at 18 billion US dollars, and no other country could get close to this growth rate.

However, such high growth suddenly collapsed at the end of the economic recovery, and many luxury brands began to question their strategy in China and other emerging markets.

Emerging economies are undergoing painful structural adjustment, and in these markets, the purchasing power of the middle class as the backbone of luxury consumption in the past ten years has weakened.

Of course, luxury brands, which are all over the world, will inevitably go downhill.

The scale of China's luxury goods market will drop from third to fourth in 2014, coupled with the impact of low economic growth and the government's suppression of luxury consumption. China's expectations have also been lowered.

Euromonitor expects the actual growth rate in 2014 to be 4%, and the 2015 forecast is more optimistic than 6%.

The good news is that the improvement of the external environment is a strong support for China's exports, which can be seen from the rebound in industrial production.

The actual growth rate of GDP is smaller than expected. Although China's adjustment is relatively slow, in fact, luxury consumption is still very strong, and thanks to the rapid growth of the labor market and income, the prospect of luxury goods in China is still optimistic.

It is estimated that China's disposable income will grow by 64% in real terms in 2019. Under this drive, the real growth of luxury consumption will reach 52%.

The five trends revealed in the Euromonitor report: the US remains the world's largest consumer of luxury goods, and the 2014 market is valued at 78 billion US dollars, more than two times that of Japan, which ranks second.

India is the fastest growing country for luxury consumption in the past five years.

The actual size increased by 92%.

China's rankings dropped from third to fourth, slowing economic growth and the government's policy of suppressing extravagance and waste.

Designer clothing brands account for the largest proportion of luxury sales in 2014, but accessories and jewellery clocks are the most active category, with real growth of 43% and 25% in the past five years.

The sales volume of the luxury goods industry is expected to reach US $405 billion in 2019, and the situation is optimistic.