China's Luxury Goods Enter Healthy Growth

< p > since the central government promulgated the "eight regulations" and other policies in 2012, China's luxury goods (thematic reading) market has also been affected, but there are various indications that China's a href= "//www.sjfzxm.com/news/index_s.asp" > luxury goods "/a" market is not so bad, and the impact of anti-corruption is likely to be exaggerated.

< /p >

< p > < strong > China's luxury consumption is showing signs of recovery. < /strong > < /p >

< p > since the central government promulgated the "eight regulations" in 2012, the luxury industry has also been affected, but there are various signs that China's luxury market is not so bad.

< /p >

P, a luxury luxury brand in France, reported that its sales in China increased by nearly 20% last year to a new high.

< /p >

< p > at the same time, some of the smaller luxury brands in Italy are being sought after.

Bunero Guchirali's sales in China increased by more than 50% in 2012 compared with that in the past year. The brand is famous for cashmere products selling more than 2000 euros (17 thousand yuan).

And the "no Logo" is known as the treasure Jia Jia in Chongqing and Tianjin and other places opened 6 shops.

< /p >

< p > it is worth noticing that after the closure of Shanghai stores in 2006 by the luxury department store in Britain, the British luxury department store returned to Shanghai at the end of last year, and plans to open a new store in Chengdu in the first half of this year.

< /p >

In 2013, the proportion of Chinese luxury goods consumption increased to 29%, exceeding that of Americans as the largest consumer of luxury goods in the world. P

< /p >

< p > China's luxury market began to grow rapidly from the 2008 Olympic Games, which increased by 30% in 2011 and 7% in 2012.

It is generally believed that this is caused by anti-corruption in 2012, but the impact of anti-corruption on China's luxury consumption is likely to be exaggerated.

< /p >

< p > < strong > anti-corruption has a limited impact on luxury consumption in China < /strong > < /p >

< p > in fact, anti-corruption has a certain effect on some gifts consumers and conspicuous consumption, and its role is not as significant as the market thinks.

< /p >

< p > CLSA believes that although gift demand accounts for nearly 40% of the Chinese luxury market, a large proportion of them still belong to legitimate interpersonal relationships between friends.

The impact of anti-corruption on China's luxury consumption growth in 2013 is not more than 5%.

< /p >

< p > cosmetics, perfume and personal care products are the mainstay of China's luxury market. Sales of this category exceed 1/4 of total sales. Even under the double impact of anti-corruption and online shopping, its growth rate has dropped from 15% in 2012 to 10% in 2013.

From online shopping and purchasing information, the impact of online shopping is likely to be greater than anti corruption.

< /p >

< p > on the other hand, the change of consumption habits has also created the "illusion" of the cold market of China's luxury goods market.

< /p >

< p > for Beijing, Shanghai and other tier cities consumers, they have more opportunities to travel abroad. Considering the factors such as tax rate and exchange rate, buying luxury goods abroad will be more cost-effective.

< /p >

< p > China luxury report shows that in 2012, Chinese luxury goods in Europe and America accounted for less than a href= "//www.sjfzxm.com/news/index_f.asp" > consumption < /a > accounted for 40% of the total consumption, but by 2013, the luxury goods consumption outside the mainland reached 80%.

The outflow of luxury goods in China is becoming more and more serious.

< /p >

In 2013, overseas consumption accounted for 2/3 of the total expenditure of Chinese luxury goods. P

The diversion of overseas markets is the main reason for the slowdown in China's luxury market.

< /p >

< p > < strong > China's luxury market has entered a healthy growth era < /strong > < /p >

< p > in recent years, China's luxury market has been developing rapidly, among which there are consumption choices of the rich class, and there is no lack of "bubble blown" bubble of public consumption.

After the central government promulgated the "eight regulations" and other policies, the malformed market is expected to restore healthy growth.

< /p >

< p > for luxury brands, the era of easy money has passed.

The development mode of Chinese market is developing from enclosure stage to continuous attention to customer experience.

< /p >

< p > China luxury market research shows that in 2013, women's consumer oriented fashion and < a target= "_blank" href= "//www.sjfzxm.com/" > shoes < /a > showed strong growth momentum, and female consumers' consumption expenditure in China's luxury market was the same as that of male consumers for the first time.

This is a great leap forward compared to the market trend that contributed more than 90% of male consumption in 1995.

< /p >

< p > statistics show that Chinese people have consumed about 25% of the world's luxury goods or services.

McKinsey estimates that by 2015, this figure will rise to 34%, and China's luxury market has great potential.

< /p >

< p > Bain reports that 50% of China's luxury consumers are middle class, 30% are new rich, and the proportion of wealthy people such as top management, two generation and government officials is only 15%.

< /p >

< p > with the deepening of anti-corruption, the public money consumers who are not sensitive to price will gradually withdraw from the market, and the market is expected to return to reason. A large number of middle class will become an increasingly powerful consumption force.

< /p >

Under the background of "a href=" //www.sjfzxm.com/news/index_f.asp "shopping" /a "diversion" and the changing consumption habits of Chinese people, the slowdown of China's luxury consumption growth is inevitable. < p >

Anti corruption not only has limited impact on the luxury market, but also helps the market develop smoothly.

< /p >