The Global Luxury Market Increased Slightly In The First Quarter Of 2016.

The 2016 spring report of Worldwide Luxury Markets Monitor (global luxury market surveillance), the authoritative authority of luxury goods industry, was jointly released by Bain Company Bain consulting company and Fondazione Altagamma Italy Industry Association.

The report pointed out that the global personal luxury market, which focuses on the two major markets in mainland China and the United States, will continue to grow in the future in the visible future when it recorded only 1% of the fixed exchange rate growth in 2015.

According to the data, the global tourist of China in March

Consumption (excluding the US, Hongkong and Dubai) showed a 24% year-on-year decline, the first decline since records began in 2010.

The luxury consumption of Chinese tourists in the European market plummeted by 35%. In February, the figure increased by 5%. The Chinese, who had been afraid of death, avoided the luxury of Europe because of the serial terrorist attacks in Paris and Brussels. At the same time, the global blue Union also believed that the luxury group started to narrow the Eurasian price gap from the beginning of the year, and successfully saved some luxuries in China.

During the period, Chinese tourists' spending on luxury goods in the Asia Pacific region was also cooling down by 6% annually, while only Japan maintained growth in April. The decline in the index has increased to 12.7% in recent years.

The global luxury market in 2015 was 253 billion euros, although it rose by 13% compared with 2014, but double-digit gains were almost entirely driven by the weakening of the euro. After excluding the exchange rate, the growth rate of 1% was worse than the 2%-4% expected at the beginning of the year.

Bain & amp; Co. Bain consulting said in its report that 2015 marks the beginning of a new cycle of slow and steady growth in the luxury market.

Since the fourth quarter of last year, it has been involved in

Retrogression, sluggish holiday season in the United States, slowing tourism in Europe and instability in the Middle East have made the challenges facing the global luxury industry extremely difficult, and this continues to the first quarter of this year.

Excluding the exchange rate effect, the luxury market in the first quarter increased by only 1% over the first quarter, while the expected increase in 2016 was only 0%-2%.

The Greater China region has been showing signs of recovery, especially in the mainland, which is in the process of reversing the decline in the past three years. The mainland is expected to achieve a 4% growth this year after excluding exchange rate effects, but Hong Kong and Macao will continue to struggle.

It remained stable.

In the United States, because of its inability to get support from the tourism industry and the uneven local demand, it is also affected by the election year. Luxury sales are declining, but the positive performance of Canada and Latin America in the Americas will offset the weakness of the United States.

Europe is constrained by terrorism and biometric visas, which has led to a decrease in the number of tourist arrivals, but local demand is enough to compensate for the impact of the cooling of tourism. This drives the growth of European luxury goods sales by 3% this year, an increase that was lower than previously expected.

Similarly, Japan, which is highly dependent on tourism, especially Chinese tourists, is expected to lead the rest of the world for second consecutive years with a growth rate of 7%. However, Japan has also failed to respond to the slowdown in China's economic growth, coupled with the appreciation of the yen, resulting in the decline in the number and purchasing power of Chinese tourists.

Other Asian countries and the rest of the world are expected to grow by 1% and 2% respectively this year.

China, the largest consumer group of luxury goods industry, has contributed 1/3 income to the global luxury market. However, in recent years, the growth of luxury goods in China has been rapidly cooled by the impact of official anti-corruption and economic downturn. At present, the luxury goods group that is at a loss now is basically where the Chinese people travel to where they want to go. So every step of Chinese tourists is affecting the whole luxury industry, but in 2016, especially in the last two months, the whole industry is not good.