Luxury Goods Enter The Era Of Cost-Effective

Mobile new media has completely changed an industry.

In the past

The big name is now borrowed from micro-blog.

The popularity of it has increasingly entered the life of ordinary consumers.

Some people say that WeChat's circle of friends is an encyclopedia, and consumers who care about fashion brush WeChat's circle of friends. They know that Zhao Wei wears a red carpet and wears the same dress of which fashion show.

What is the origin of the "white coat"? Where can Tang Yan buy a Kela drill?

Because of this, luxury goods are no longer unfamiliar to consumers. They are also more rational. They will not pay for a big Logo like "H" or "G". They will not pay for a brand. In 2015, luxury consumers in China are more concerned about quality, and luxury goods enter the era of cost-effective.

From flaunt to self possession, "2015 is a turning point."

Italy, a luxury men's wear brand northern district sales leader Chen Kai (alias) told reporters.

As a sales manager, sales and service are completely separated from the previous two jobs. The main task of sales is not to find the core consumers of the brand, but to pay for the core consumers.

"A few years ago, the brand sold many gift cards, and many people who bought gifts with gift cards did not know much about the brand."

Chen Kai said that in the whole year of 2015, there was hardly any consumer who bought the men's clothing with gift cards. The customers who bought them in the shop were all very keen on the brand. They were more concerned about what suits the suit was suitable for, what color tie they need to match, whether the style fit their body and identity.

The sales staff of the store account for a higher proportion of clothing and consultancy roles.

This change happens not only in men's wear area, but when it comes to luxury goods, many people will immediately think of Gucci and LV's packages. In the past, the brand of these packages, apart from their own design style, will have obvious brand Logo, such as "cross pattern" and "double G".

This year, reporters walked into several brand stores. These products with obvious Logo logo were put on the shelf by the salesmen. More and more consumers abandoned the big Logo and chose a more low-key design.

"A few years ago, luxury goods had just entered the perspective of Chinese consumers. Chinese consumers are not mature enough. There are big blind cult and Logo worship. Luxury consumption is dominated by conspicuous consumption. Some wealthy consumers prove themselves to be rich with a large package, clothing and glasses."

Zhou Ting, President of the Institute of wealth quality, said.

A recent "China consumer trend report" released by Boston company shows that from 2010 to 2014, the average annual compound growth rate of per capita disposable income in China's urban areas reached about 11%. In the first three quarters of 2015, the growth rate of per capita disposable income in urban areas was about 8%, and the rising middle class (household disposable monthly income was 5200~8300 yuan) and the middle class (household disposable monthly income of 8300 yuan to 12500 yuan), the demand for high-end products and services surged, and became a new force for the purchase of luxury goods and high-end consumer goods, and the purpose of these consumers to buy luxury goods was more for their own use.

Declining demand for luxury goods

Luxury goods from the past rely on the growth of the gift economy growth to their own use, consumers not only pay more attention to quality, but also more understanding and understanding of luxury goods.

In the past, Chinese consumers' cognition of luxury goods was often limited to famous brand leather products, Swiss watches, jewellery, super luxury cars and other famous international brands with high popularity. Now consumers consider luxury goods, besides the above categories, they also include artworks, yachts, high-end hotels and luxury travel.

The cognition of category originates from the maturity of consumers.

In the era of gift economy, gifts and receiving parties often use Logo, brand and other visible things as a showcase of capital.

But when luxury becomes more self occupied, consumers are more concerned about quality, the sense of pleasure and experience of self use, and the role of brand and Logo are becoming more and more desalinated, which is called "visible consumption to invisible consumption".

Nevertheless, the survey of wealth quality shows that luxury cars, watches and jewellery are the three most expensive luxury goods for Chinese luxury goods.

According to the China horological association, in 2015 1~10, time loggers and similar timepieces imported 930 thousand and 100, compared with 778 thousand and 300 in the same period last year, an increase of 19.5% over the same period last year, with a total import value of 4 million 504 thousand US dollars, compared with 5 million 671 thousand US dollars in the same period last year, a decrease of 20.58% over the same period last year.

The cumulative import volume and import volume declined, which means that the demand for top and high-end watches declined. In the field of automotive industry, the database of China's import vehicle market showed that in 2015 1~10, China imported 888 thousand vehicles, down 24.1% compared with the same period last year.

This further shows that the demand for Chinese consumers in the ultra luxury car industry is also declining.

"Invisible consumption", the demand for luxury travel and high-end hotels of Chinese consumers has increased significantly.

At the end of 2015, The Heart of Pai in Macao, Macao, was launched. "The demand for global luxury travel is increasing day by day, and the city is also included."

Rigi Hostellerie and resorts worldwide brand leader Jim Petrus said.

He Guoxiang, President of the Asia Pacific region, Starwood Hotels and Resorts International Group, told reporters that in the past, the target group of high-end El Luxor Hotel was mainly award tourism. The implementation of the two children in China has made a great increase in the demand of high-end El Luxor Hotel to meet family travel. Sheraton, Reggie and other hotel brands are very much concerned about the demand for family travel, and consider more family needs in product design and development, so that children can use more facilities in the hotel.

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In the past, the price of luxury leather goods is increasing every year. Immature Chinese consumers regard luxury as a product with investment value. "Nowadays, China's rich people no longer believe in the value of luxury investment and collection, and think it is just a marketing gimmick."

Zhou Ting said.

Antiques and works of art, as another kind of invisible consumption, are regarded by Chinese consumers as the most valuable product category.

Liu Yuan, an investor in cultural and creative industries, believes that because the valuation system and trading system of antiques and artworks are not yet mature, and Chinese consumers have limited understanding of artworks, there is still a lot of market space for them to develop.

Pay attention to cost performance

From flaunting consumption to self consumption, from visible consumption to invisible consumption, Chinese consumers' awareness of luxury goods has matured, paying more attention to the price performance of brands.

"In 2015, the development of Internet related media, especially the mobile Internet, made consumers more mature and rational. Luxury brands as a synonym for quality products and services, although to a certain extent, still have a broad social psychological basis, but the value appeal of other customers not taking products and services as the core to customers is rapidly weakening, and luxury goods are entering the" cost-effective era ".

Zhou Ting said.

The change of consumers has made the traditional luxury day more and more sad. Chen Kai told reporters that the year-end bonus will shrink dramatically this year, because the performance is not good. At the same time, the headquarters is also adjusting the strategy, which will shut down some general business outlets and open flagship stores.

Data show that in 2015, the consumption of Chinese consumers in the field of luxury consumption has picked up from 2014, which is expected to rise to 25 billion 800 million US dollars, up 3% from the same period last year. However, the main sales growth point is not in the traditional shopping mall stores, and the traditional Luxury Retailing industry continues to suffer heavy losses.

Because of the diversification of luxury brands in recent years, especially the development of low price products and categories, luxury goods are becoming more and more popular with people. Many brands are becoming products that more people can afford. This practice has made luxury brands gain more customers and sales volume to some extent, but also makes the positioning of luxury brands more and more blurred.

And the growth of the luxury industry is mainly the high-end niche brands and customized brands. In 2015, the designer brand surged, and the high-end custom brands began to highlight their advantages, quickly seized the market share of traditional luxury brands, and made consumers consume too much from brand consumption to product consumption.

Such a change will become more apparent in 2016.