Luxury Consumption Is Recovering: The Highest Penetration Rate After 95

Double eleven is approaching, luxury electric providers are also stepping up their layout.

Because of its unique attributes, luxury online market still has great potential for growth, and has become a focus of the layout of the electricity supplier in recent two years.

In 2014-2016 years, it was opened.

The number of luxury brands is increasing.

The major luxury brands also "follow the trend" and have set up exclusive stores, such as Tmall flagship store.

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By the end of last month,

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In the past few years, China's luxury market has seen an unprecedented strong growth. In 2011, the overall annual growth rate of luxury consumption in China was between 25%-30%. In 2012, luxury goods sales reached 306 billion yuan, surpassing Japan as the second largest luxury market in the world.

A steady stream of new consumers helping China

Sustainable development, after 80, 90, 95 play an increasingly important role.

In contrast to the fact that online penetration is far ahead of the domestic consumer market, online sales in the luxury market are still growing slowly.

According to the report released by Euro analysis, all online luxury shoppers in all ages are growing, with a relatively high proportion of young people, but there is still much room for growth compared with those in developed countries.

The highest penetration rate of luxury goods purchased online after 1995 was 59%, while that of the millennial generation (from 1980 to 1995) was second, reaching 37%, while that of 1960 to 1980 was slightly lower than 26%.

On the other hand, compared with the proportion of 29% of the first tier cities, the two or three line cities are 39% and 58% respectively. Luxury consumers have higher penetration on line shopping, because the number of luxury brand shops in the two or three tier cities is limited, and in store services may not fully show the uniqueness of luxury goods.

Luxury electric providers are facing a dilemma of low recognition and low recognition.

Among the third party enterprises in China, the local platform can better convert the browsing visitors into shopping customers. Among them, Tmall and Jingdong are leading by e-commerce platform, followed by NetEase koala, Xiao Hong Shu, ocean pier and temple library.

On the other hand, although the volume of overseas shopping platforms such as Shopbop, Net-a-Porter and Farfetch in China has not yet been able to compete with domestic platforms, their overall customer satisfaction ratings are even higher because they continue to perform better in key purchase factors such as "product quality assurance" and "style richness".

At present, in the domestic platform, temple library and Toplife are more popular. The former is recognized in the genuine products, while the latter is recognized in terms of convenience and other related factors.

Pascal Martin, partner of OC&C, told the twenty-first Century economic news reporter: "after 2013-2015 years of postponed growth, China's luxury market has regained its splendor.

The growth is mainly driven by the promotion of domestic consumption. On the one hand, the government is committed to bringing luxury goods back to the mainland, as well as luxury brands to reduce the price gap between China and the world. These two initiatives jointly promote the consumption of luxury goods in China.

Chinese consumers account for 25% to 35% of global luxury sales, most of which (65% to 75%) sell outside China.

With the shrinking price gap between China and overseas, the Chinese consumers are gradually turning to domestic purchases, and most of the sales growth comes from online channels.

At the top end

And accessories, online sales now account for 9% of China's total sales.

But compared with other product categories in China, its online penetration is still low.

The most unexpected thing is that the online penetration of Chinese high-end fashion and accessories is lower than that of other developed markets, while other categories are usually the opposite.

Social digital breakthrough

"Domestic digital channels and social media are playing a more and more important role," Pascal Martin told the twenty-first Century economic news reporter.

Consumers no longer care about the difference between online and offline channels.

They aspire to personalized shopping experience, convenience and seamless touch points.

For luxury companies, e-commerce is no longer an independent E-business Department separated from other existing channels. Instead, it aims to connect online and offline channels to create a seamless multi touch shopping process.

Turning to the full channel business model is not only necessary but also inevitable.

Take the coming double eleven as an example, the nature of double eleven requires all participating brands to lower prices to stimulate consumption, which is largely in conflict with the logic of luxury goods business.

However, as the importance of dual eleven continues to grow, more and more luxury brands decide to enhance their influence on digital and social media.

Dolce&Gabbana, Michael Kors and Shiatzy Chen and other brands began to invest more in social media campaigns to promote products.

For luxury brands, we should further use the mindset of dual eleven and Chinese consumers to expand their brand influence.

Some fashion bloggers, such as gogoboi and Shiliupo, have been selling discounted products from Western double luxury business platform Farfetch, Reebonz and Matchesfashion in WeChat Mini store since last year's double eleven.

On the other hand, planning a series of luxury goods for fans is also a trend.

Take last year's double eleven gogoboi WeChat information as an example, all available offers during the double eleven period were sold out in five minutes.

More and more luxury brands are beginning to realize that the impact of Chinese consumers on luxury goods market is increasing.

First of all, China's luxury consumer accounts for 32% of the global market share. In addition, more and more experts and agencies are focusing on the qualitative analysis of luxury goods industry in China.

China's digital marketing and digital interaction are far ahead of other markets.

Wang Chong said: "going online is a big trend, and 37% of consumers will have consumer behavior online.

In the past, the advantage of offline is the guarantee, service and experience, choice of products and after-sale service.

On the other hand, there are more brands to choose from, the more complete products and the convenience of online shopping, and the more flexible payment scheme.

Development.

In addition, it is worth mentioning that compared with the global trend, foreign online luxury goods sales have developed better.

In China, only 9% of luxury consumption is online.

The more developed luxury consumer market can reach 15%-16%. "