2014, The Global Luxury Consumption Growth Rate Is Only 2%.

Bain consulting and the Italy luxury industry association released the latest report on the global luxury market monitoring.

The report shows that excluding the exchange rate factor, global personal luxury consumption growth in 2014 is expected to be only 2%, the lowest since 2009.

Although 2014 has not yet ended, the semi annual reports issued by major brands have used data to reflect the current downturn in the luxury goods industry.

At the same time, poor quality of luxury goods has repeatedly exposed the quality problem, which has become the biggest problem of consumers' tucking and criticisms.

Consumer dissatisfaction can be seen from this widely circulated word in the Internet: "if you buy a Prada bag for a year, the zipper is not bad, Logo has not dropped, it has not been opened yet, and the quality steel is good. Several can prove that you bought a fake."

In recent years, a large number of brands have been doing foundry in China, Vietnam and other countries in order to reduce profits and increase output.

But the impression of "Made in Italy" and "Made in France" still occupy an important position in the minds of consumers who admire these brands.

When product quality and aura contrast, the impact on brand word of mouth is undoubtedly enormous.

In the media coverage of the phenomenon of luxury brand foundry, journalists have taken the following typical examples to remind consumers that luxury goods are owned by brand, history, culture and other factors.

Premium, quality advantage is not as obvious as its price advantage.

You may not know the truth of "OEM".

From a macro perspective, tourism consumption is still the main engine of growth, while e-commerce is the fastest growing sales channel, with an increase of 28% in 2014.

At the same time, some major events in the global political and economic field set the tone for the depression in the luxury sector.

Global factors to curb the growth of luxury goods industry as pointed out in the global luxury market monitoring

Specific to the Chinese market, there is a forecast that luxury goods will enter China for the first time since the negative growth.

The reduction in demand for gifts caused by anti-corruption is repeatedly mentioned by domestic and foreign media.

While the top brands are affected, the so-called "light luxury" brand, which is more popular in the market, develops better in the Chinese market.

This also shows that after several years of rapid growth, the mentality of Chinese consumers is more mature and rational.

Analysis of reasons for negative growth trend in China's market

For the future global luxury market, an information company named Ou Rui International has made the following analysis:

The US remains the world's largest consumer of luxury goods, and the 2014 market is valued at $78 billion, two times that of Japan, which ranks second.

India is the fastest growing country for luxury consumption, and its market size has increased by 92% in the past 5 years.

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 5 years.

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