Why Is China'S Luxury Market Abandoned?

China's consumers are important, that is, consumption individuals, but they do not attach importance to China's consumer market.

It sounds like a paradox, but it really happens in the international luxury brands.

Medium.

In the recently released "China luxury report", the data show that Chinese consumers have a good appetite and love for luxury goods: in 2014, Chinese consumers bought nearly half of the world's luxury goods, accounting for a slight decrease compared with the previous year (the proportion of China's luxury goods market in the global luxury market decreased from 13% in 2013 to 11% in 2014).

The specific consumption data is that in 2014, Chinese consumers' global luxury consumption reached $106 billion, an increase of 4% over the same period, indicating that the Chinese bought 46% of the world's luxury goods in 2014. Chinese consumers are still the undisputed largest buyers in the global luxury market.

In this report, it also shows that 76% of the consumption of luxury goods occurs outside the country.

This may be a small note for all countries to attach importance to China's tourism market.

Moreover, in 2014, the consumption of local consumers in China decreased significantly, to 25 billion US dollars, down by 11% compared with the same period last year, and the overseas consumption of Chinese consumers was further strengthened. In 2014, overseas consumption amounted to US $81 billion, an increase of over 9% over the same period last year.

What is the data and proportion? What I think is the only thing that can tell us is that the consumption of Chinese luxury goods has gone to a very serious level.

Why is China's luxury market, which accounts for nearly half of its consumption, abandoned?

According to the report's conclusion, China's luxury market is for many international markets.

It does not have a strategic position.

International luxury brands are reducing their marketing budgets, and many brands are beginning to recover the market budget decision making power of the Chinese market. Every expenditure is approved by headquarters. Meanwhile, many brands do not have long-term market planning in China, but only the fastest use of the Chinese market to get the most.

And profit is the sole objective, so it is common to report illegal data illegally, without contract spirit.

The most direct manifestation of the international luxury brand's abandonment of the Chinese market is the abandonment of senior talents in the company's management, and the reduction of human resources cost in the Chinese market, especially the cost of senior managers. In recent years, there has been an endless series of changes in China's top executives. In 2014, the top management personnel in luxury brands in China changed by more than 60%.

Is the international luxury brand and money enmity? Or why do they not value such a broad market? One of the reasons has to be ponder: fake is one of the main reasons for many brands to abandon the Chinese market.

According to the financial research, the market visibility of luxury goods is more than 6 times that of genuine products, that is, luxury brands that can be seen everywhere on the streets are mostly fake, and the luxury brands have reached the point where they are hard to get back to.

The spread of counterfeit goods may be a manifestation of the lack of contract spirit of the Chinese people. It is also a direct reflection of the good face of the Chinese people. The international luxury brand's abandonment of the Chinese market may be a cold laugh at the Chinese consumers who feel good about themselves.

I don't care about luxury goods, but I hope that international luxury brands will cherish the Chinese market in the future.

The upgrading of the quality of the market should also be the promotion of comprehensive national strength.

76% of luxury consumption occurs outside the country, which may be a small note for all countries to attach importance to China's tourism market.