Global Luxury Consumer Insight Report: There Are Many People Who Consume Luxury Goods In China.

Italy luxury goods industry association Fondazione Altagamma commissioned Boston consulting company and Paris bank BNP to investigate 12000 luxury consumers in ten countries. Their average annual luxury consumption was 36000 euros (around 260 thousand yuan) and made a global luxury consumer insight report.

Luxury goods include experiential luxury consumption, such as restaurants, hotels, red wine, design furniture, personal luxury consumption is what we often say package shoes, luxury clothes, perfume beauty makeup, luxury accessories, etc. (car and yacht are not in the scope of this survey).

Despite the slow growth of the global luxury market, especially in the middle tier, the market for high-end luxury goods at the top of Pyramid is more optimistic under the impetus of China and the United States.

The price threshold of luxury goods is also increasing. High-end consumers are getting more and more expensive. Luxury goods with a price of more than one hundred thousand euros have increased from 1% to 7%.

There are some commonplace things in the report: the digitization of luxury goods, the main force of the millennial generation to drive the consumption of luxury goods, the continuous popularity of leisure winds, the return of local consumption and the polarization of consumption. The consumers of the 4% cent account for 30% of the consumption ratio. In addition, we have summed up some interesting points: the gap between the rich and the poor in the top luxury brands is becoming more and more obvious.

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Market growth is slowing down.

In the first 2013-2016 years, the turnover of the 20 luxury brands was 3.8%, and 2016-2023 turnover was expected to continue to decline between 2-3%.

Last year, 8 brands were in negative growth, and 5 brands were at a strong growth rate of more than 10%.

Just as the results reflected in last year's report, the fruits of luxury brands have been picked up.

The luxury brands that keep up with the spirit of the times can survive in the declining personal luxury market.

From the retail trend report released by Fondazione Altagamma, Gucci seems to be the biggest winner last year.

In the global trend of integrating luxury brands into retail stores,

Last year, 91 retail stores ranked first, followed by Prada and LV, 82 and 15 respectively.

The polarization of luxury goods is not only reflected among brands, but also on luxury goods.

Shoes are the most expensive luxury that people buy.

We also see that Chanel has opened a special shoe store in Hawaii, and Gucci Milan store has moved its shoes to the most prominent place.

But perfume and beauty are still luxury items that consumers like to buy.

The millennial generation is the main force to promote sales of these two categories.

On the other hand, people are not interested in small leather articles and silk products.

The money spent on these two items decreased by 7% and 25% respectively.

Consumers who are dissatisfied with the price of luxury goods exceed 50%.

And Americans are most disappointed.

Over the past year, the price of some iconic luxury goods has increased faster than inflation.

Millennials and Americans react most strongly to this.

Among them, 2/3 consumers think the price is too high.

Because of dissatisfaction with the price of luxury goods, sales of losses are as high as 45%.

Once the difference between the psychological value and the actual price is too great, the 41% person will choose the first grade product or the fast fashion. Among them, people who buy bags and shoes will choose the first type. The people who buy clothes will choose second kinds.

For more information, please pay attention to the world clothing shoes and hats and Internet cafes.