With the rapid development of China's economy, the income level of residents has increased substantially, and China’s affluent population has rapidly emerged. China is gradually becoming a new force in the luxury consumer market, and China will be the most potential consumer of luxury goods. Data from the World Luxury Goods Association shows that in 2007 China's luxury goods market reached 8 billion yuan, accounting for 18% of the global market. It is the third largest consumer of luxury goods in the world, second only to the United States and Japan. As of October 2008, the consumption of luxury goods in China has increased by 8% to 10% over the total consumption in 2007 to reach US$8.6 billion. Due to the economic crisis, luxury goods consumption in Japan and North America has fallen by 35%. Related data show that China has become The second largest consumer of luxury goods. [1] Luxury goods have rapidly grown and spread in China in a short period of several years. The demand for luxury goods far exceeds the balance in economic theory.
I. Definition of luxury goods In terms of economics, luxury goods refer to the products with the highest value and quality, and the products with the highest ratio of intangible and tangible values. From a commodity perspective, high prices do not mean that they are "luxury goods." The high price of "luxury goods" is not necessarily the accumulation and accumulation of excessively high production and use of material costs, but is behind them. A perfect system support and hundred years of cultural heritage. The esthetician is defined as “luxury goods†is a symbol of life being artistic, an external sign that transforms the pursuit of life into aesthetics, and “luxury goods†is a direct representation of art aesthetics. Has been given more cultural, historical, artistic and philosophical implications. "Luxury goods" have a positive effect on the rapid development of society and the development of the national economy, because they focus on the most advanced technology, the most harmonious product aesthetics, and it is kind, delicate, sensitive, and most humane, and The luxury itself is also evolving.
Second, the consumption status of China's luxury goods (A) younger consumer age In foreign countries, the main consumer groups of luxury brands are generally between the ages of 30 to 40 years old, Chinese consumers of luxury goods from the age of 20 young people People are around the age of 50, but 20- to 30-year-old consumers have become the main consumers of luxury goods in China. The number of Chinese consumers in this age group is 11 times higher than Japan's. A survey of urban youth in China conducted in 2007 showed that more than 60% of young people agree with the concept of “live and have fun†and that they are willing to purchase luxury goods. The rejuvenation of luxury goods in China has become a trend. For example, the minimum age for consumption of the Dunhill brand in China is about 5 years lower than in Europe, the United States and other countries, and is about 25 years old. [2] The reasons are as follows: First, because China is currently in the developing market, examples of young people's success abound; they have economic strength to consume luxury goods; second, some young people whose economic ability does not reach the level of consumption of luxury goods, Luxury dreams are also consumed luxury goods. Based on this, young consumer groups can be divided into two types of consumption: “people who can really afford luxury goods†and “people who spend all their money to buy a small piece of luxury goodsâ€. In addition, it is worth mentioning that Chinese women spend a lot on luxury goods. The appearance of economically independent professional women has changed the traditional male-dominated customer base of China's luxury goods industry. Stylish and affluent urban women are willing to treat themselves very happily and are infatuated with the charm of luxury goods.
(2) Consumption is concentrated in foreign brands. China almost has no independent brands to participate in competition. At present, China’s luxury goods market is almost entirely absorbed by foreign brands. China’s luxury consumption is actually Westernization, which is related to the top brands we do not have in the world. . [3] Do not say that the domestic brand name, even the "Made in China" foreign brands also make their worth fall, which is related to the Chinese people's consumption philosophy, consumer culture, and the successful operation of foreign brands and a large number of offensive and many other factors. Luxury brands are mainly from developed countries such as Europe, the United States, and Japan. In Europe, a wide range of luxury goods covers silverware, bronzeware, crystal glass, leather, publishing, and decorating. The Swiss Army Knife and ZIPPO lighters have fascinated many young people. The luxury market in China is an unopened Jinshan. Although there are luxury brands such as “Shuijingfang†and “National Pits 1573†in China, the number of people known is not much. There is hardly any competition with foreign luxury brands. In fact, China does not lack indigenous luxury products. China has a very good gene for growing luxury brands: a tailor-made tens of thousands of permanent tailors, high-end mahogany furniture, and those related to the royal family in Chinese history. The tribute, for example, Nanjing Yunjin, etc., but due to the lack of "going out" strategic vision and brand promotion methods, making China's domestic luxury products are not familiar with and love foreign and even their own nationals. China's luxury goods market is attracting the attention of many foreign luxury brand manufacturers. Unfortunately, China's luxury goods are not in place and have not attracted enough attention from local Chinese entrepreneurs.
(3) China is still in the early stages of growth in luxury goods consumption and growing rapidly. In Europe and the United States, luxury goods are used for housing, cars, and family tourism, as well as very personal consumption such as ceramics, food, etc. . As long as you have the highest quality, the deepest cultural connotation and artistic quality, buying an ancient lighting fixture and listening to New Year's concerts can become a luxury product. Most of China’s luxury goods are still concentrated on personal items such as clothing, perfume, and watches. The historical experience of mature countries in the luxury market indicates that in the early period of growth in luxury goods consumption, the largest consumer and fastest-growing personal luxury product was used. In the later period, it gradually shifted from specific luxury goods to luxury lifestyles and experiences. . Although private resort hotels, top-level furniture, and art investment forums, top-grade health care products specially designed for wealthy individuals have begun to attract attention in China, this change shows that Chinese buyers have started to consume luxury goods. The shift to the consumption of luxury lifestyles, but that is after all a minority, the current domestic and domestic consumption of luxury goods will focus on luxury goods for personal use, namely high-end fashion, high-grade leather goods, jewelry, watches, top cosmetics and perfumes, antiques Calligraphy and other high-end products. [4] China is still in the early stages of the growth of luxury goods consumption, so the development of luxury goods in China will have a long period and process, which has also attracted a large number of luxury brand expansion in China. So far, almost all of the world's top brands have branches in China. According to statistics from the China Brand Strategy Association, China currently has 175 million consumers who are able to purchase luxury goods of various brands, which account for 13% of the total population. About 10 million to 13 million of them are active buyers of luxury goods. The products they purchase are mainly concentrated on personal items such as watches, bags, cosmetics, fashion and jewelry. The association expects that by 2010, the number of domestic people who are able to purchase luxury goods will increase to 250 million. The history of the developed countries shows that per capita income is around US$ 1,500 and luxury consumption starts. When per capita income reaches US$ 2,500, luxury consumption will rise sharply. At present, China has exceeded the per capita income of 1,500 US dollars, and some coastal cities have even exceeded 2,500 US dollars, so the domestic consumption of luxury goods is growing rapidly.
(D) At the place of consumption, mostly through large shopping malls and tourism. Even when purchasing luxury goods, Chinese consumers prefer to shop in downtown business centers or large shopping malls. This gives them the opportunity to browse around. Choose different brands and products. In addition, due to high tariffs, many Chinese consumers prefer to purchase luxury goods outside China, especially Hong Kong. According to statistics from the French Tourism Bureau, the average amount of Chinese tourists spending in France far exceeds that of European and American tourists. Currently, the Chinese occupy 5% of the world's top luxury brand spending, of which 3% are purchased by Chinese tourists overseas.
Third, the development trend of China's luxury goods trade US media said that by the financial tsunami, the global luxury goods trade is in the doldrums, the data show that in the past 11 months, Japan and North America's luxury goods consumption plummeted 35%, major brands have reduced their own price However, the Chinese market has risen against the market, maintaining a strong 22% growth. [1] The strong trend of the luxury goods trade in the Chinese market has barely been affected by the global economic crisis. This is evident from the fact that the followers of luxury goods have continued to grow stronger. This also strengthened the determination of luxury giant China to lay out the market. The British media said: The traditional luxury goods of the United States and Japan have suffered heavy losses, China's economy is thriving, and many luxury giants have caught China's life-saving straw, have entered China. Italy's top brand Versace said that in 2009, the Asian market will become its second largest market in the world, and the Chinese market has contributed. French media reports said: “Look at what happened to luxury goods in the United States. They are now investing in China. Geneva watch merchants have visited seven countries in the past two months and tried to sell it to the world's wealthy people. As for the Titanic-DNA series of watches worth 10,000 yuan, no country is more interested in it than the Chinese."
The Ministry of Commerce of the People's Republic of China expects that by 2010, China will have 250 million consumers able to purchase luxury goods, nearly 17 times the current figure. In addition, in the next few years, 200-300 million people will enter cities filled with luxury goods, which will further drive the growth of the market. By 2014, China will become the world's largest luxury market, accounting for about 23% of the global total. In view of the economic crisis, some analysts even predicted that China may become the world’s largest consumer of luxury goods around 2011. [1] The rapid development of China's luxury goods market is also a good opportunity for China's domestic luxury goods industry, not just brands. Chinese investors, retailers and designers, including manufacturers, have the opportunity to The industry is benefiting from the rapid growth. The development of China's luxury goods trade will present infinite vitality...
References [1] Zhang Ruijie, et al. 22% year-on-year increase in the global luxury goods market in China [N]. Legal Evening News, 2008, (11).
[2] Wang slightly. On the development of China's luxury consumer market [J]. Chinese Price, 2008, (9).
[3] An Qi. Talking about the marketing strategy of luxury goods consumption [J]. Northern Economic and Trade, 2008, (10).
[4] Wang Zhan, Zhao Yuling. The rise and future of China's luxury goods consumption [J]. Research and Exploration, 2008, (9).
I. Definition of luxury goods In terms of economics, luxury goods refer to the products with the highest value and quality, and the products with the highest ratio of intangible and tangible values. From a commodity perspective, high prices do not mean that they are "luxury goods." The high price of "luxury goods" is not necessarily the accumulation and accumulation of excessively high production and use of material costs, but is behind them. A perfect system support and hundred years of cultural heritage. The esthetician is defined as “luxury goods†is a symbol of life being artistic, an external sign that transforms the pursuit of life into aesthetics, and “luxury goods†is a direct representation of art aesthetics. Has been given more cultural, historical, artistic and philosophical implications. "Luxury goods" have a positive effect on the rapid development of society and the development of the national economy, because they focus on the most advanced technology, the most harmonious product aesthetics, and it is kind, delicate, sensitive, and most humane, and The luxury itself is also evolving.
Second, the consumption status of China's luxury goods (A) younger consumer age In foreign countries, the main consumer groups of luxury brands are generally between the ages of 30 to 40 years old, Chinese consumers of luxury goods from the age of 20 young people People are around the age of 50, but 20- to 30-year-old consumers have become the main consumers of luxury goods in China. The number of Chinese consumers in this age group is 11 times higher than Japan's. A survey of urban youth in China conducted in 2007 showed that more than 60% of young people agree with the concept of “live and have fun†and that they are willing to purchase luxury goods. The rejuvenation of luxury goods in China has become a trend. For example, the minimum age for consumption of the Dunhill brand in China is about 5 years lower than in Europe, the United States and other countries, and is about 25 years old. [2] The reasons are as follows: First, because China is currently in the developing market, examples of young people's success abound; they have economic strength to consume luxury goods; second, some young people whose economic ability does not reach the level of consumption of luxury goods, Luxury dreams are also consumed luxury goods. Based on this, young consumer groups can be divided into two types of consumption: “people who can really afford luxury goods†and “people who spend all their money to buy a small piece of luxury goodsâ€. In addition, it is worth mentioning that Chinese women spend a lot on luxury goods. The appearance of economically independent professional women has changed the traditional male-dominated customer base of China's luxury goods industry. Stylish and affluent urban women are willing to treat themselves very happily and are infatuated with the charm of luxury goods.
(2) Consumption is concentrated in foreign brands. China almost has no independent brands to participate in competition. At present, China’s luxury goods market is almost entirely absorbed by foreign brands. China’s luxury consumption is actually Westernization, which is related to the top brands we do not have in the world. . [3] Do not say that the domestic brand name, even the "Made in China" foreign brands also make their worth fall, which is related to the Chinese people's consumption philosophy, consumer culture, and the successful operation of foreign brands and a large number of offensive and many other factors. Luxury brands are mainly from developed countries such as Europe, the United States, and Japan. In Europe, a wide range of luxury goods covers silverware, bronzeware, crystal glass, leather, publishing, and decorating. The Swiss Army Knife and ZIPPO lighters have fascinated many young people. The luxury market in China is an unopened Jinshan. Although there are luxury brands such as “Shuijingfang†and “National Pits 1573†in China, the number of people known is not much. There is hardly any competition with foreign luxury brands. In fact, China does not lack indigenous luxury products. China has a very good gene for growing luxury brands: a tailor-made tens of thousands of permanent tailors, high-end mahogany furniture, and those related to the royal family in Chinese history. The tribute, for example, Nanjing Yunjin, etc., but due to the lack of "going out" strategic vision and brand promotion methods, making China's domestic luxury products are not familiar with and love foreign and even their own nationals. China's luxury goods market is attracting the attention of many foreign luxury brand manufacturers. Unfortunately, China's luxury goods are not in place and have not attracted enough attention from local Chinese entrepreneurs.
(3) China is still in the early stages of growth in luxury goods consumption and growing rapidly. In Europe and the United States, luxury goods are used for housing, cars, and family tourism, as well as very personal consumption such as ceramics, food, etc. . As long as you have the highest quality, the deepest cultural connotation and artistic quality, buying an ancient lighting fixture and listening to New Year's concerts can become a luxury product. Most of China’s luxury goods are still concentrated on personal items such as clothing, perfume, and watches. The historical experience of mature countries in the luxury market indicates that in the early period of growth in luxury goods consumption, the largest consumer and fastest-growing personal luxury product was used. In the later period, it gradually shifted from specific luxury goods to luxury lifestyles and experiences. . Although private resort hotels, top-level furniture, and art investment forums, top-grade health care products specially designed for wealthy individuals have begun to attract attention in China, this change shows that Chinese buyers have started to consume luxury goods. The shift to the consumption of luxury lifestyles, but that is after all a minority, the current domestic and domestic consumption of luxury goods will focus on luxury goods for personal use, namely high-end fashion, high-grade leather goods, jewelry, watches, top cosmetics and perfumes, antiques Calligraphy and other high-end products. [4] China is still in the early stages of the growth of luxury goods consumption, so the development of luxury goods in China will have a long period and process, which has also attracted a large number of luxury brand expansion in China. So far, almost all of the world's top brands have branches in China. According to statistics from the China Brand Strategy Association, China currently has 175 million consumers who are able to purchase luxury goods of various brands, which account for 13% of the total population. About 10 million to 13 million of them are active buyers of luxury goods. The products they purchase are mainly concentrated on personal items such as watches, bags, cosmetics, fashion and jewelry. The association expects that by 2010, the number of domestic people who are able to purchase luxury goods will increase to 250 million. The history of the developed countries shows that per capita income is around US$ 1,500 and luxury consumption starts. When per capita income reaches US$ 2,500, luxury consumption will rise sharply. At present, China has exceeded the per capita income of 1,500 US dollars, and some coastal cities have even exceeded 2,500 US dollars, so the domestic consumption of luxury goods is growing rapidly.
(D) At the place of consumption, mostly through large shopping malls and tourism. Even when purchasing luxury goods, Chinese consumers prefer to shop in downtown business centers or large shopping malls. This gives them the opportunity to browse around. Choose different brands and products. In addition, due to high tariffs, many Chinese consumers prefer to purchase luxury goods outside China, especially Hong Kong. According to statistics from the French Tourism Bureau, the average amount of Chinese tourists spending in France far exceeds that of European and American tourists. Currently, the Chinese occupy 5% of the world's top luxury brand spending, of which 3% are purchased by Chinese tourists overseas.
Third, the development trend of China's luxury goods trade US media said that by the financial tsunami, the global luxury goods trade is in the doldrums, the data show that in the past 11 months, Japan and North America's luxury goods consumption plummeted 35%, major brands have reduced their own price However, the Chinese market has risen against the market, maintaining a strong 22% growth. [1] The strong trend of the luxury goods trade in the Chinese market has barely been affected by the global economic crisis. This is evident from the fact that the followers of luxury goods have continued to grow stronger. This also strengthened the determination of luxury giant China to lay out the market. The British media said: The traditional luxury goods of the United States and Japan have suffered heavy losses, China's economy is thriving, and many luxury giants have caught China's life-saving straw, have entered China. Italy's top brand Versace said that in 2009, the Asian market will become its second largest market in the world, and the Chinese market has contributed. French media reports said: “Look at what happened to luxury goods in the United States. They are now investing in China. Geneva watch merchants have visited seven countries in the past two months and tried to sell it to the world's wealthy people. As for the Titanic-DNA series of watches worth 10,000 yuan, no country is more interested in it than the Chinese."
The Ministry of Commerce of the People's Republic of China expects that by 2010, China will have 250 million consumers able to purchase luxury goods, nearly 17 times the current figure. In addition, in the next few years, 200-300 million people will enter cities filled with luxury goods, which will further drive the growth of the market. By 2014, China will become the world's largest luxury market, accounting for about 23% of the global total. In view of the economic crisis, some analysts even predicted that China may become the world’s largest consumer of luxury goods around 2011. [1] The rapid development of China's luxury goods market is also a good opportunity for China's domestic luxury goods industry, not just brands. Chinese investors, retailers and designers, including manufacturers, have the opportunity to The industry is benefiting from the rapid growth. The development of China's luxury goods trade will present infinite vitality...
References [1] Zhang Ruijie, et al. 22% year-on-year increase in the global luxury goods market in China [N]. Legal Evening News, 2008, (11).
[2] Wang slightly. On the development of China's luxury consumer market [J]. Chinese Price, 2008, (9).
[3] An Qi. Talking about the marketing strategy of luxury goods consumption [J]. Northern Economic and Trade, 2008, (10).
[4] Wang Zhan, Zhao Yuling. The rise and future of China's luxury goods consumption [J]. Research and Exploration, 2008, (9).
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