2015 The Luxury Goods Market In The Asia Pacific Region Will Be At A Standstill.

Recently,

The 2015 spring report on global luxury market monitoring is released. It is expected that the global luxury market will increase by 2%-4% this year, and the Asia Pacific market will remain at a standstill in 2015.

The report shows that the projected level in 2015 was unchanged from last year, but last year's level was the worst since 2009.

In addition, the market increased by 2%-3% in the first quarter of this year after excluding the exchange rate effect, but in fact most of the luxury group's data have not yet reached this level.

For example, LVMH group's only one growth business in the first quarter of this year is wine and spirits.

The brand's first quarter performance fell 7.9%.

According to the category, the luxury goods such as shoes, handbags, accessories and jewellery watches are expected to grow by 4% in the global luxury market. The proportion of accessories in the market last year is 29%, and hard luxury is 22%. The two categories of clothing and perfume are expected to grow by 3%, of which the market share of perfume and cosmetics is 20%.

These categories will increase slightly more than the level in 2014.

In the sub regional perspective, the Asia Pacific market with outstanding performance in the past year will also be basically stagnant in 2015, with a negative growth of 1% to a positive growth rate of 1%. This level will further deteriorate compared to 3% last year.

The mainland's annual revenue in the pition period will be reduced by 2%-4% over last year, and the sharp fluctuation of exchange rate and the difference between the pricing strategies and distribution channels of luxury brands in various markets will make Chinese luxury consumers who are extremely sensitive to prices actively outflow.

Data show that, at present, the pformation of local consumption to tourism consumption is very obvious. At present, Chinese consumers contribute more than 30% to the global luxury market.

Tourism consumption accounts for 50% of the total global luxury consumption.

Claudia D 'Arpizio, partner of Bain consulting, said that the old model was being questioned. The current luxury group needs to consider pricing, distribution and customer strategy first. In the new environment, the brand must be radically changed if it wants to win the market in the next few years.

The analysis shows that the Chinese market, which has almost supported the growth of the luxury market, will usher in a decisive moment this year.

On the one hand, local

Consumption is cooled by policies, while consumption is outflow due to exchange rate fluctuations and price sensitive characteristics.

The luxury goods industry believes that the entire luxury industry has developed into an increasingly popular stage from the relatively profiteering stage of the relatively closed information in the past. Its product design, pricing, distribution channels and service functions are facing a new market demand. The pformation will take place at this stage, while Chanel's price cuts in China are timely to stir the market, and the future luxury goods industry will enter the same direction competition with the high-end fashion brands.