Paris Luxury Chain Store Is Coming Out This Weekend.

Although we have been talking about the downturn in the luxury goods industry, how long is it going to be? Maybe it is a rule from the French Fashion Association.

Moreover, this provision is quite worrying about the future of the luxury goods industry.

It is reported that foreign media reported that the recent French Fashion Federation joint luxury products.

A new regulation was issued through joint consultation.

Closed in the past weekend

Department stores have recently ushered in an unprecedented situation at the weekend.

Despite the fact that this agreement is not mandatory, the French Fashion Association has actually joined many of the many brands.

In addition, the department stores and Paris spring department stores are not in the new business day agreement.

Foreign media said the two sides are still negotiating.

The uncommon nature of this policy is mainly due to the French locals.

There are strict regulations on business hours and working hours, so the introduction of this regulation also proves a desperate way to save themselves in the decline of the luxury goods industry.

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Foreign media said that in Hongkong, Harbour City on weekends is always bustling.

Faced with such a scenario, it seems overstated to talk about the economic downturn.

But compared with 2014, this shopping mall is quite quiet.

At that time, mainland tourists queued up to buy luxury goods to boost sales. Harbour City's sales accounted for nearly 1/10 of total retail sales in Hongkong.

According to the Financial Times website May 22nd, data on Hongkong's retail industry have been disappointing recently.

According to official figures, with the mainland tourists seeking new consumption experiences in Seoul, Tokyo and Paris, the retail sales in Hongkong dropped by 21% in the same period in February.

Excluding price changes, this is the largest year-on-year decline in retail sales in Hongkong since September 1998.

Zhou Dafu, the biggest jewelry chain in China, said in May that its profits would drop by 40% to 50% due to the "lower consumer sentiment in Greater China".

The report said that despite the rapid changes in Hongkong's fortunes (in 2014, when Harbour City was the largest shopping centre per square foot in the world), it was unlikely that it would be completely replicated elsewhere, but it led luxury industry observers to realize that China's interest in high-end products and experiences could change much faster.

Analysts believe that there are several factors that lead to changes in Chinese consumption habits, including exchange rate changes, but more important factors are related to changes in habits and tastes.

"Luxury experience is not just a shopping experience," said Alan Fisher, director of consumer and Gaming Research at CLSA.

Hongkong has all the luxury brands and some fast consumer brands, but the mid-range brands are not rich, and museums and cultural activities are also very limited.

If you go to Tokyo, Seoul, Paris or Milan, there will be much more choice. "

Driven by exchange rate advantages, Japan and South Korea are especially popular with Chinese tourists.

According to CLSA's price tracking, 12 months ago, the price of the same commodity was about 20% lower in Tokyo than in Hongkong, and the long-term data show that the average price of Tokyo is about 20% higher than that of Hongkong.

Recently, however, the appreciation of the yen against the US dollar means that the price of Tokyo will again be higher than that of Hongkong, with a maximum of about 10%.