In One Year, Burberry Even Closed 4 Stores. Do Chinese People Not Like To Buy Luxury Goods?

Burberry connects 4 stores.

Recently, the famous British luxury brand Burberry was officially closed in April 1st in the flagship store of Shanghai SHANG Jia center.

Burberry customer service staff said, SHANG Jia Center store has closed shop, whether the future Beijing store will be closed, has not received group notice.

For the reason of closing the store, Burberry responsible person said he had sent an email to the British headquarters, but has not yet replied.

It is understood that in early April, British insiders told the media that the group would close the store in Shanghai's SHANG Jia center, and that the company continued to lay off workers in disguised form until there were only 7 employees left before closing the store.

After the closure, all employees are expected to be dismissed.

It is reported that within one year, Burberry has closed three stores in Shanghai, and the flagship store of Shanghai SHANG Jia center is fourth stores.

According to Burberry China official website, there are four stores in Shanghai besides SHANG Jia center.

Compared to last December, the flagship store of Burberry has been reduced from 52 to 46.

Public data showed that in the financial year ended March 31, 2018, Burberry closed 34 stores worldwide, and opened 14 new stores, closing 20 stores, including 6 online shops.

Burberry itself has some problems, but don't Chinese people like to buy luxury goods?

According to the statistical analysis of market demand and investment forecast analysis of China's luxury goods industry released by the foresight Industry Research Institute, in 2018, Chinese luxury goods consumption reached 145 billion 700 million US dollars, an increase of 7%, accounting for 42% of the global luxury goods market.

Among them, the consumption of luxury goods abroad is 107 billion 300 million US dollars, the growth rate is 4%, the total domestic consumption is 38 billion 400 million US dollars, the growth rate is 17%, the consumption outflow is still very serious, and 74% of the luxury purchases happen outside China.

How to make the consumption of high net worth people return is the key to stimulating domestic demand, boosting domestic consumption market and promoting quality consumption.

According to the analysis of the consumption situation of China's luxury goods market in 2018, the share of China's luxury goods market in the global luxury market increased to 11%, a percentage point higher than that in 2017, and the trend of consumer market warming in China is obvious. However, because of the housing market downturn, the stock market is not good, the unemployment has increased and so on, Chinese consumer confidence has been seriously affected, and the consumption power of luxury goods has obviously weakened in the second half of 2018.