South Korea Is Now Facing Luxury Consumption In The Luxury Market.

The region is struggling to save consumers' desire to shop in mainland China.

The effort has been more effective, because the decline in Chinese tourists caused by MERS seems to have become a thing of the past, and Chinese tourists are coming back again.

According to statistics, the number of tourists visiting China in October reached 650174, an increase of 15.6% over the same period last year, the first increase since the outbreak of MERS in May to two figures.

Hongkong's luxury retail outlets, which rely on mainland Chinese shopping tourists, still say their performance has been sluggish.

The evasion of the MERS epidemic in Korea and the exclusion of social turbulence in Hongkong have led to a sharp rise in the number of tourists visiting China in recent months, making Japan a luxury brand.

and

The fastest growing market.

But in the future, Japan seems to have a share with South Korea.

Before the outbreak of the MERS epidemic, both Japan and South Korea were the country with the highest growth in the number of visitors to China.

Before the outbreak of MERS in the first half of 2015, Japan was the third most popular tourist country in China, ranking behind Korea and Taiwan.

According to the bain consultancy data report, although the sales in the mainland market dropped, Chinese consumers went abroad to spend a lot of money, including mainland sales, purchasing and outbound purchases. The total consumption of Chinese luxury goods in 2014 was about 380 billion yuan, up 9% over the same period last year.

The scale of luxury shopping market reached 550-750 billion yuan.

Because of the price advantage brought by exchange rate, Japan and Europe have become the main destinations for Chinese tourists to buy luxury brands.

Duty-free shops in Korea and Japan are the main reasons for attracting Chinese consumers, and the duty-free retail market in Korea is rebounding with the re influx of Chinese tourists.

According to the report, the turnover increased by 5.7% in October, and the competition between the duty-free shops between the two countries was also increasing.

According to reports, Shinsegae and Lotte duty-free shops have been fighting for the main retail outlets that can attract Chinese tourists.

Shinsegae has recently been allowed to open a duty-free shop in Seoul, China's favorite tourist area.

The store will compete directly with Lotte duty-free shops and Lotte also has stores in the area.

The trend of mainland tourists moving to South Korea is obvious. Earlier, Zhou Dafu Group expects to open more branches in the locals.

At the beginning of this year, Zhou Dafu group plans to invest $2 billion 600 million in an entertainment project in Inchon, Korea, which aims to attract Chinese tourists.

The rise of Korean culture has also illuminated the fashion of Asia and even the whole world.

Chanel2016's early spring holiday series was released in Seoul. South Korea's luxury, beauty and fashion market is booming, attracting many luxury brand giants to invest in the development market. However, some people pointed out that the luxury brand giant's attack on the Korean market is also a tourist destination for Chinese tourists. According to the latest data, South Korea has become one of the most popular tourist attractions for Chinese consumers.

The Korean market is growing and is becoming more and more important for luxury brands. Christian Dior CEO Sidney Toledano has said when it opened in Seoul, the largest flagship store in Asia, "I first came here more than 30 years ago.

At that time, the luxury market was very small.

Most Koreans work in the construction, engineering and textile industries.

They have achieved great success.

Today, the market is developing rapidly.

We believe that there will be greater potential in the future, which is why we decided to set up the largest independent store in Asia. "

Although there is no serious competition between South Korea and Hongkong so far, it will have to face Japan's formidable opponent.

Although Chinese tourists had been dissatisfied with the Japanese Senkaku islands dispute earlier, the weakness of the Japanese yen meant that the prices of luxury goods and high-end technology equipment were lower.

In addition, Chinese consumers' interest in Korean culture and the convenience of South Korean visa means that these two countries will gain huge benefits in the near future by visiting a large number of Chinese tourists.