Luxury goods market is difficult to reveal smile

While luxury goods Hermes Wallets less price advantage, but the lavish giver, keen eye for fashion’s “second generation”, had quietly become the backbone of mainland luxury market. Cater to the Chinese tradition of “reciprocity” and “face” needs, coupled with the Red Cross will be dragged into the whirlpool of “Mei Mei clan”, Kunming, “Hyun Fujie,” Hermes, Maserati, Chanel has long been no longer a luxury.

The first break one hundred billion yuan luxury Hermes Birkin market

The world’s leading strategic consulting firm Bain Capital has issued the “2011 China’s luxury market research report,” said 2010 years and the personal luxury spending has risen to the world’s fifth ranked, and including Greater China, including Hong Kong and Macau luxury spending among the world’s top three. Hawker’s luxury goods last year, the mainland totaled about 212 billion yuan, of which the mainland market size 871 million this year, an increase of 25% -30%. This means that the mainland luxury Hermes Bolide market this year will exceed 100 billion yuan for the first time scale.

At present, more and more attention to global luxury brands in China, most of which have already entered the Chinese market, while the Chinese market in the world of the brand share of total sales are rising, for example, China has replaced the U.S. as the largest Montblanc sales market. Louis Vuitton and Hermes in 2010, respectively 25% and 38% of sales come from Asia (excluding Japan), in which the revenue from the Chinese market is rising.

In addition to first-tier cities, the luxury brand has also been actively expanding to the second and third tier cities, such as frequent business and leisure travelers visiting Xi’an, Taiyuan, Shanxi, Yunnan, Kunming, Hohhot, Inner Mongolia and so on. In 2010 just 50 franchise stores to Direct British luxury fashion brand Burberry has expressed the hope that five years the number of existing stores in China to 100, which in 2010 has entered the Taiyuan and Changde . Louis Vuitton since 2007 has entered the Taiyuan, Hohhot, Urumqi, second and third tier cities.

To meet Chinese consumers, some of the brand launch designed specifically for Chinese consumers of products. For example, Hermes to be lost in the China-based craft techniques to create a “China can afford the luxury brand,” “up and down.” “Down” in September 2010 Huaihai Road in Shanghai opened its first retail store, product designers from China, manufactured by the Chinese, only sold in China.

China’s traditional “reciprocity” and “face”

Since ancient times, Chinese people focus on “reciprocity.” In addition to personal use, gifts for important luxury consumer use. According to Ruder Finn and the albatross of the report, in the Greater China luxuryHermes Bags consumer use, for friends and family to buy 29%, business gifts, especially gifts accounted for 28%. Of these, 28% of respondents said that first-tier cities to do business with the purchase of luxury gifts, second-tier cities in the proportion of 36%. Some accessories such as purses, scarves, glasses, belts and ties are the most popular gifts to a single product.

Mainland luxury goods industry veteran, the world’s top luxury goods exhibition TOPMARQUES vPro exhibition curator Sheng Lei, managing director, told reporters that people in the name of package is purchased outside, name shoes and other small pieces of luxury, while the real magnates are enthusiastic about cars and other big-ticket luxury items, although more expensive than the mainland 2.5-4 times more expensive abroad, subject to policy restrictions, still must be from the Mainland. In addition, as gifts of luxury, rarely will someone made a special trip to go overseas to buy, the mainland’s luxury market continues to boom it is expected.

50-year-old Zhang said, every time he came to Beijing Lufthansa have to go buy a lot of luxury, the majority is used to gifts, and discounts in the country to buy some products, the key is to have an invoice, the customer also can go if not satisfied for.

Recently, the World Luxury Association national survey of consumers conducted a sample analysis found that the psychological tendency to buy luxury goods much difference, and Chinese consumers are accused of “conspicuous consumption psychology.”

Affluent consumers in China’s conspicuous consumption was still evident, many brands have introduced a more prominent logo merchandise, with the unique taste of Chinese consumers demand. Such as the BMW from Germany to meet the tastes of Chinese consumers, specially designed limited edition BMW M3 models, corresponding to the Year of the Tiger embroidered seat in the car a “tiger,” the first sign. The French luxury fashion brand launched in 2010, according to Kou specifically designed for Chinese consumers, a China limited edition red handbag Marcie, to celebrate the 5th anniversary of the brand in China.

In China, consumers pay more attention to buy luxury goods brand value of luxury goods, rather than the value of the goods themselves, from the analysis of consumer psychology, most Chinese consumers to buy luxury goods is to let people know his value, and comparisons between the luxury to ability to prove their wealth and social status. According to the World Luxury Association survey, 70% of Chinese luxury consumers believe luxury is an important symbol for social networking, there is the need for value comparisons, and buy luxury goods completely self, focusing on the concept of designer brands and consumer culture accounted for only a few.

The industry believes that the rapid rise of these Chinese luxury goods consumers need to constantly improve the cultural level of the pursuit. Chief Representative of the World Luxury Association China Ouyang Kun that luxury consumption growth is three main stages: 1 stage of the pursuit of wealth and status; 2 phase difference between the pursuit of status; 3, the pursuit of cultural differences stage. Confirms the above three basic luxury of three major groups. With these three major groups of growth and maturity, the Chinese luxury goods market will become more and more, after all, there will be more and more people will go to pay for this market.zhengyiqiong/Dec.blog

Luxury goods market is difficult to reveal smile