Do You Understand The Metamorphosis Of China'S Luxury Market?

Bain has recently released a research report on China's luxury market in 2015, saying that China's luxury market has been declining for second consecutive years.

Data show that the scale of China's luxury goods market in 2015 was 113 billion yuan, down 2% from the same period last year.

Near the new year, Zhao Meng entertained her friends in order to give thanks to each other before giving her a recommendation.

Zhao Meng's "record" is good this year. Before this stock market crash, he heard his friend's suggestion and quit in time.

On the day of the meal, she passed IAPM, saw the big sign of GUCCI, and thought about buying a new year gift.

There were not many guests in the shop, but there were also three to two in the store accompanied by the clerk to see objects.

The scene was better than what she saw a year ago, when most of the staff in the store had more customers than customers.

"This may be due to the adjustment of luxury prices in the first half of 2015."

"If you go to IFC in Lujiazui now, you will find more customers than before," said BrunoLannes, chairman of consumer goods, retail and luxury goods business in Bain, a consultancy.

In fact, after Chanel took the lead in price adjustment, many brands adjusted their prices in China in a low profile.

The adjustment of price has helped the Chinese consumers to a certain extent.

But overall, China's luxury consumption has declined for two consecutive years.

If luxury brands want to increase their turnover in China, remember that women spend more time on luxury goods than women.

Actually, it wasn't just Gucci. At the end of last year, Dior closed the Chengdu Renheng landmark Plaza.

According to the 2015 report of global luxury market surveillance, the luxury goods market in Asia Pacific region will be at a standstill in recent years, and luxury income in the mainland will be reduced by 2% to 4%.

According to incomplete statistics, in the 2013~2015 years, BURBERRY closed 4 mainland stores, COACH closed two, Hermes closed one, Armani was 5, and PRADA went from 49 to 33.

According to other sources, the early luxury stores in Chengdu, such as Renheng landmark, Mei Mei department store, Renhe Spring Department store and so on, may also usher in problems such as brand withdrawal and adjustment.

In the face of the rise of IFS, the old luxury stores are becoming more and more gloomy.

As early as last October 16th, because of the pressure of operation, the Renhe Spring people's East department store and Guanghua Department store of Chengdu's high-end retail department store were bought by the Shang group group at a price of 2 billion 600 million yuan.

For many luxury brands including Gucci, with the completion of migration, upgrading and pformation of stores, reshaping the brand image and bringing the "outflow" consumers back to the local market, it is imperative to raise sales of stores in today's increasingly competitive market.

Famous brand marketing experts

In an interview with reporters, "in fact, the tide of luxury stores began in 2012. Jewelry, high-end luxury stores and other stores closed their profits from Shanghai first, and gradually extended to the West.

One result is that consumption shrinks, and the second is the rise of high-end luxury brands.

Although many international luxury brands claim to be channel sinking, none of them has done well.

According to the reporter, after the opening of Chengdu IFS and oceanic taiguli, many international first-line brands have been gathered here. According to the relevant agencies, the sales volume of IFS in 2015 is expected to exceed 4 billion yuan.

The cluster effect of luxury goods business is becoming more and more obvious. The coincidence degree of brand VIP and the viscosity of customers are also increasing. For luxury goods, the international brand is respecting the commercial treasure of choosing neighbors. The platform of high-end customer resource sharing can obviously bring more profits and value.

Bain has recently released a research report on China's luxury market in 2015, saying that China's luxury market has been declining for second consecutive years.

Data show that the scale of China's luxury goods market in 2015 was 113 billion yuan, down 2% from the same period last year.

In fact, since the second half of 2015, information on various brands has been coming out.

According to incomplete statistics, SalvatoreFerragamo has closed its 7 stores in China this year, and HUGOBOSS has closed 11 stores in China.

"We know that the growth rate of China's luxury goods market has declined in recent years, especially under the influence of the Chinese government's anti-corruption policy."

PierLuigi, the heir of Italy's luxury brand LoroPiana, is also aware of this phenomenon. He told the first Financial Daily reporter: "fluctuations in the market or finance will indeed cause consumers to have doubts about buying luxury goods in the short term, an obstacle to shopping because of unknown market conditions.

Recent events have made consumers reluctant to spend too much money on shopping. "

Bruno believes that the main reason for the continued weakness of the domestic luxury market is the price difference between the domestic and overseas markets.

The convenience of overseas tourism and the popularity of the Internet have made Chinese consumers "smart". They are not as good as ten years ago.

Zhao Meng agrees with this view.

When shopping in China, impulse spending is mostly and small items are often purchased.

Most of the time, she still chooses to buy these high-end products on overseas business trips and holidays.

"There are too many difference prices at home and abroad."

Most consumers have the same idea as Zhao Meng.

After studying about 1500 Chinese consumers, Bain found that in 2015, shoppers changed a lot in the choice of luxuries.

In 2015, the overall increase in overseas luxury shopping was 10%.

Consumers flocked to Japan to spend more than 200% of their purchases.

The advantages of exchange rate and competitive luxury pricing make Korea, Europe and Australia become the popular shopping places of Chinese consumers in 2015.

By contrast, luxury consumption in mainland China has dropped by about 25% in China's Hongkong and Macao, China.