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    2018 Young Luxury Women'S Clothing Market Analysis Strong Growth Momentum Has Been Verified In Europe And The United States

    2019/3/27 21:23:00 5904

    Light Luxury Dress

    Development momentum of light luxury women's clothing market

    The women's clothing industry can be classified into low, middle and high-end according to the major categories. The subdivision can be divided into heavy luxury, light luxury, high-ranking, mass, parity and discount.

    Because low-end women's clothing such as public prices and parity has failed to meet the requirements of consumer upgrading, in recent years, the boom has not been good enough. The high-end women's clothing represented by light luxury has risen vigorously, and the market growth performance has continued to outperform the overall apparel and women's clothing.

    According to Euromonitor estimates, in 2017, China's high-end women's clothing market has reached 144 billion 400 million yuan.

    There are two main driving forces for the development of light luxury women's clothing Market: first, the promotion of women's social status and purchasing power promotes the upgrading of clothing consumption.

    On the one hand, the rising social status has constantly stimulated the demand of female consumers for their extravagant consumption.

    On the other hand, the increase of per capita disposable income of women makes it possible for female consumers to buy more high-grade clothing to meet their dual needs of material and emotional.

    Driven by the above factors, women have experienced the upgrading process from the subsistence to the personality and even the enjoyment of consumption.

    Two is brand awareness and aesthetic ability to enhance the luxury women's clothing market capacity.

    With the popularity of the Internet and the emergence of many social platforms, domestic female consumers can learn about fashion lifestyle such as New York, Paris, Tokyo, Hongkong and other fashionable lifestyles, and the latest fashion trends.

    At the same time, more and more female consumers are beginning to realize that clothing is not only a necessity, but also a manifestation of personal taste and life.

    As a result, the increase of female consumers with purchasing power, willingness to consume and identification will provide a good endogenous demand for the development of light luxury women's clothing market.

    The development of light luxury women's clothing market

    Market situation

    The strong growth in the market of light luxury women's clothing has been strongly verified in Europe and America, and has become a major highlight of women's clothing in Europe and America.

    Take the United States as an example, from 2011 to 2017, the overall growth rate of the American women's wear market was only 1.7%, of which the annual average compound growth rate of light luxury was 6%, the rate of increase was 4 times that of luxury goods, and 6 times that of other categories of clothing.

    The share of light luxury market continues to expand. In 2017, the US luxury market was nearly $14 billion 900 million.

    In China, the market for light luxury women will also enjoy strong growth.

    Data show that in the next five years, the sales growth of China's light luxury industry will reach 11%-13%, the growth rate will exceed that of luxury consumption, and 2025 of the young luxury sales will reach 620 billion, accounting for 45.7% of China's luxury consumption, and the development space will be larger.

    The two digit growth in the overall luxury sector will lead to continuous improvement in the subdivision sector, including light luxury women's clothing.

    Competition situation

    Compared with traditional luxury goods, light luxury pricing can be accepted by more people, the threshold is low, and the quality and service of luxury goods can be guaranteed.

    Light extravagance meets the needs of new generation consumption upgrading, while it has strong personalized tags.

    Because of the luxury gene and high cost performance, the luxury customers who started from the beginning are the young middle income group.

    With the constant attention of light luxury, more and more brands are joining the market competition.

    At present, the participants in light luxury market mainly include luxury accessory, international light luxury brand, designer brand and fast fashion group high terminal brand.

    Domestic high-end brands are also actively laying out the luxury women's clothing market, such as song Li Si, an Zheng fashion, and so on.

    Overseas brands dominate the luxury sector, and the mass market competition is fierce. High-end domestic brands seek a strong growth of pure land.

    Channel situation

    At present, the main sales channels of light luxury women's clothing include department stores, shopping centers and electricity suppliers. Among them, sales of department stores account for a relatively large proportion, and shopping centers and electricity providers and other emerging channels continue to improve.

    Benefiting from the rapid growth of shopping centers, the luxury women's wear shops will expand rapidly, and will become another new mainstream channel in the future. Although the electricity supplier channels are growing rapidly, it will be difficult to mainstream. The reason is that the price of light luxury women's units is high and consumers pay more attention to the consumption experience.

    Suggestions on the development of light luxury women's clothing market

    With the explosive growth of brand types and the new consumption era of new pattern, consumers' thirst for brand design and product innovation is more intense.

    Enriching the brand lineup, further amplifying the synergy effect, innovating the version design, and rapidly upgrading the single store profit in the regional market and promoting the connotative growth of the brand will become the future development direction of the light luxury women's clothing.

    In addition, the number of target customers and channels for light luxury women's clothing is very limited.

    The development path of light luxury women's clothing and business casual wear is different. Due to the high degree of fashion, the pricing of the brand is high and the target customers are limited.

    In order to enhance the brand image, the luxury women's clothing brand mainly chooses to set up stores in the middle and high-end shopping malls or large shopping centers, often appearing with high-end luxury stores.

    The restrictions on the number of middle and high-end shopping malls will affect the extension and expansion of women's clothing brands, and the high cost of rents and so on will also bring greater pressure to enterprises.

    Therefore, the luxury brand can not expand the outlets in a large scale, and more importantly, strengthen the control of terminal channels.

    Author: Lu Lanqing


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