The "Gap Between Rich And Poor" In Top Luxury Brands Is Becoming More And More Obvious

In this era, more and more foreign brands in China are beginning to realize the importance of Chinese millennials to their future business development. Burberry, Cartier and Gucci have made many bold moves to attract this group. For luxury brands, the most attractive thing for Chinese millennials is their huge number and huge consumption power.

And "China's millennials are online all the time", the young people of this generation are used to surfing the Internet with fragmented time. The vast majority of Chinese millennials spend a lot of time on their mobile phones, including morning and night on the road, time in the toilet, and before falling asleep. This behavior habit shows that they need to connect with the world anytime and anywhere - through Internet and social media, so brands should be proficient in how to catch their attention in such a short time.

Fondazione Altagamma, an Italian luxury industry association, surveyed 12000 luxury consumers in ten countries around the world, and their average annual luxury consumption was 36000 Euro (about 260000 yuan), and made a global luxury consumer insight report.

Luxury includes experiential luxury consumption, such as restaurants, hotels, red wine, and designed furniture. Personal luxury consumption is often referred to as package shoes, luxury ready to wear, perfume and cosmetics Luxury accessories Wait (cars and yachts are not included in the scope of this survey).

Although the global luxury market is growing slowly (especially the middle tier personal luxury consumption), the situation at the top of the pyramid, that is, the market for high-end luxury goods, is optimistic driven by China and the United States. There are some cliches in the report: luxury digitalization, the main force of millennials driving luxury consumption, the continued popularity of leisure style, the return of local consumption, and the polarization of consumption, 4% 30% of consumers accounted for 30% of consumption.

In addition, we summarized some interesting points: the growth of personal luxury market is becoming slower and slower. The turnover of the top 20 luxury brands between 2013 and 2016 is 3.8%, which is expected to From 2016 to 2023, the turnover will continue to decline, between 2-3%.

Last year, the turnover of eight brands was in a negative growth state, and that of five brands was more than 10% Strong growth. Just like the results reflected in last year's report, the fruits of luxury brands have been picked up. Only luxury brands that can 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 at the same time, Gucci Became the biggest winner last year. In the trend of global luxury brands integrating retail stores, Gucci opened 91 retail stores last year, ranking first, followed by Prada and LV, 82 and 15。

The polarization of luxury goods is not only reflected in brands, but also in luxury goods. Shoes exceed perfume and cosmetics as the most expensive luxuries people buy. We also saw Chanel Gucci opened a special shoe store in Hawaii Milan store also moved the shoes to the most prominent position. However, perfume and cosmetics are still luxury goods that consumers like to buy. Millennials are the main force driving sales of these two categories.

On the other hand, people are not interested in small leather goods and silk products. The amount of money spent on these two items decreased by 7% and 25% respectively. More consumers are dissatisfied with the cost performance ratio of luxury goods 50%. Millennials and Americans are the most disappointed. In the past year, the prices of some landmark luxury goods have increased faster than inflation. Millennials and Americans reacted most strongly to this matter. 2/3 % of consumers think the price is too high.

Because right luxury goods The dissatisfaction with the price increase resulted in a loss of sales of up to 45%. Once the difference between people's psychological value and actual price is too large, 41% People will choose the first level of products or fast fashion, among which most people who buy bags and shoes will choose the first, and most people who buy clothes will choose the second.

The best luxury goods in people's minds are made in Italy, while made in America can only be enjoyed by Americans. More and more American fashion websites mention "Made in "US", but people do not have a good opinion of luxury goods made in the United States, except Americans.

LV and Supreme Co branding is a major event in the fashion industry this year. Street style has entered luxury brands, and consumers are increasingly fond of casual wear, which may be mutually causal. At the same time, people's demand for customized luxury goods has shown a growing trend, and the demand for customized luxury goods in Italy, France, Russia, Brazil and China has exceeded the average level.

For Chinese consumers, there are obviously more people buying luxury goods in China. Chinese people buy more luxury goods in China. In 2014, only 39% of consumers bought luxury goods in China, but in 2016, 65% of consumers bought luxury goods in China Of consumer In China, 16% of them buy online.

This is mainly due to the reduction of China's tariffs and the relaxation of controls on imported luxury goods, the global unified pricing strategy of brands and the weakness of the RMB. For luxury brands, this means that the consumption tastes of Chinese young people are becoming more and more diversified. They want to buy unique products to prove their taste. Therefore, the future customization route will become a major strategy for luxury differentiation.

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