"He Economy" Frequently Shows That China'S Male Market Will Become A New Blue Ocean Of Luxury Goods.

With the attention of male consumers to appearance, many brands have opened the way of "his economy" and launched a series of men's products.

Recently, Armani beauty makeup is about to launch a new men's skin care product line, Armani Men, which was launched on the official website of the United States in June, officially launched on the Chinese market in 2020; Fendi released the first fashion show for men and women in Shanghai; the Prada 2020 spring and summer men's show will also be held in Shanghai.

According to the insiders, luxury brands frequently show their Chinese market in men's products, indicating that brand names attach great importance to the male market and the Chinese market. The huge potential of male consumption has expanded from the past in some areas to a wider scope today. With the rise of the "post-90s" group, the development of "his economy" will be more rapid.

Big show is frequent in China

Although men's shows are not new in the luxury sector, it's not common to show male products in China. Recently, LVMH's luxury brand Fendi hosted 2019-2020 autumn and winter men's and women's wear fashion shows in Shanghai. It is understood that this is the first time that Fendi has held a male and female show in China. The opening model is Chinese actor Xu Weizhou. In addition, this is the second time that the brand has performed in China after 2007. Coincidentally, Italy luxury brand Prada also hosted the 2020 spring and summer men's fashion show in Shanghai in early June. This is the first time Prada has held a men's wear show in a city outside Milan. Prada creative director Miuccia Prada said in a statement that China has been playing an important role in the brand development strategy.

From the brand point of view, it is not surprising to focus on the development of men's clothing, because the men's wear market, especially the luxury men's wear market, has great potential for development. According to the blue book of world luxury report published by the World Luxury Association, in the past few years, the growth rate of male high-end products market has surpassed that of the female market.

With the rapid growth of the market share of male luxury goods, the layout of luxury brands in the male market has also been fully opened. Zhang Peiying, honorary consultant of the China luxury Confederation, believes that the development of male luxury goods is developing rapidly, and the Chinese market is the core market that the brand needs to focus on. Take Prada as an example, according to the group's 2018 earnings report, sales in China increased by 8%, the fastest growing in all markets.

Beauty is developing rapidly.

In addition to the release of the fashion show, the brand side also cuts into the male economy through different ways. Among them, Dior recently launched a new make-up series DIOR BACKSTAGE, which has been chosen to be sexed and male consumers can also use it. Previously, Chanel, Rihanna and other brands also launched a series of men's make-up.

In fact, as the public's acceptance of multiculturalism increased, AI was no longer a female patent, and more men began to focus on the field of beauty. Because of this, men's beauty has become another potential market for brands outside the clothing industry. According to the "2019 China cosmetics electric industry monitoring analysis and consumer behavior comprehensive investigation report" released by AI media, the arrival of the era of "his economy" has made men's cosmetics a new blue ocean market. In 2018, the sales of cosmetics sales in the men's cosmetics category increased by 89% over the same period last year. Among them, the growth rate of eyebrow pencil for men is 214%, the growth rate of /CC cream for men's special BB cream is 185%, and the rate of male lipstick is 278%. AI media consulting analysts believe that the number of cosmetics products used by men continues to increase, making this market tend to be refined, professional and high-end, and men's make-up has become a new blue ocean market.

The industry believes that with the rise of social business, the development of men's beauty will be more rapid. Under the influence of "beauty recommendation" live broadcast, short videos, pictures and texts, the sale of men's cosmetics network will also be further recognized by consumers.

The millennial generation is the main consumer force.

In Zhang Peiying's view, at this stage of the luxury industry, whether it is men's clothing market or male beauty market, the millennial generation will become the main consumer. According to the 2019 China luxury report released by McKinsey, the younger generation represented by the "post-80s" and "post-90s" accounted for 43% and 28% of the total number of luxury goods buyers, respectively, contributing 56% and 23% of the total consumption of luxury goods in China. In terms of per capita expenditure, the "post-80" luxury consumers spend annually. Four point one 000 yuan to buy luxury goods, "post-90s" luxury consumers for every year. Two point five Ten thousand yuan.

In fact, the millennial generation has built up half of China's luxury market. Zhang Peiying believes that in the eyes of the millennial generation, luxury goods are not just a dress or a lipstick. "It" has even become the social capital of young people to help them improve their voice. In this regard, male consumers see more than girls. He said that the role played by men in the post-80 social and post-90s workplace will pay more attention to external image, which will further stimulate the growth of his economy.