The Luxury Market In Asia Pacific Will Be Depressed To A Standstill.

Recently, Bain consulting and the Italy luxury goods industry association released the "global luxury market monitoring 2015 spring report", said that this year the global luxury market growth will be between 2%-4%, the Asia Pacific market will be 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 growth business in the first quarter was wine and spirits. The GUCCI brand of Kai Yun group fell 7.9% in the first quarter.

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.

Partner of Bain consulting company

The old model is being questioned. The current luxury group needs to consider pricing, distribution and customer strategy first. In the new environment, the brand must fundamentally reform 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, the local market is influenced by policies and consumption is cooled.

Volatility and price sensitivity make consumption outflow.

The luxury industry believes that the whole

The industry has developed from a period of profiteering in the relatively closed period of information to an increasingly popular stage. Its product design, pricing, distribution channels and service functions are facing a new market demand. Changes will take place at this stage, while Chanel's price reduction in China is a timely stir. The future luxury goods industry will compete with high-end brands such as fashion brands.