Slow growth in luxury spending this spring
In this regard, insiders believe that the rapid development of luxury, is facing unprecedented domestic difficult period, and this difficult period in a short time would be difficult to end. Hello, we are here basically all models are available from stock, which one of your fancy? Yesterday afternoon, the Beijing International Trade LV store, when the reporter asked to buy a new limited edition bag to send to friends, sales staff enthusiastically took samples to reporters a detailed description reporters found that the store in addition to some new listing in January, the stock has been in a state including the ever classic white checkerboard LV shopping bags and a new bag SPEED25 , have been confirmed in stock Afterward, the reporter audemars piguet arnold visited the Burberry, Hermes, GUCCI and other stores, almost all brands are enthusiastic sales staff told reporters that all models are in stock can be arbitrarily selected. And LV, these big luxury market this year more than most of the new stock, and even some in the long term in short supply worldwide popularity of classical product also visited the spot reporter found adequate, although major luxury brand stores Today is what to what, but traffic was minimal. In the Oriental Plaza luxury watch brand Glashütte stores, the reporter saw only three two customers here, very lonely. Normally at this time are our selling season this year, the number of individuals to buy watches less than double-digit in previous years, with gifts for the purpose of regulars was missing. one salesperson described the recent dismal sales. According to an insider, such as the world's first line of luxury watches Glashutte brand, very few people buy for personal use, usually are to buy gifts this year, this part of the customer all gone.
Recall last year in March to sell hundreds of luxury big stock of the situation, this spring, Beijing's luxury market seems to really become deserted. Market growth is slowing down the expansion of the big six-year low
Cold case consumption of luxury goods, however, seems to be spreading across the country from the fourth quarter of 2012, the Chinese luxury goods market growth is slowing down, Bain global partner, Greater China, consumer products, retail and luxury goods business chairman Bruno Langner said that despite the 2012 total mainland Chinese luxury consumption of up to 115 billion yuan, but the growth rate was only 7% in 2011 compared to 30% growth rate, a figure significantly lower a lot, and this is from Affected by the lowest growth rate since the year 2006, the congregation had big luxury ambitious expansion plans in China have begun to slow down. Reporters learned that, following the LV after China recently said it would not continue to shop second and third tier cities, always in unison with LV GUCCI also announced the opening of stores in China slowed plans. Meanwhile, veteran British luxury brand Burberry (Burberry), Richemont Group, one of the world's three major luxury goods are said to slow down the expansion of the outflow of luxury consumption in China
Domestic consumption of less than one percent abroad
People has been sought after luxury brands, why after six years of rapid development, suffered its first winter in China? The industry believes that the domestic consumption of luxury goods exodus, is the main reason leading to market freeze data show that in 2013 during the Spring Festival (January 20 February 20), the total consumption of luxury goods market overseas $ 16.2 billion, China people outside of luxury spending totaled $ 8.5 billion, compared with Breitling Flying B Chronograph $ 7.2 billion figure for the same period last year rose by 18% over the same period the total domestic consumption of luxury goods in China $ 830 million, less than the total consumption of luxury goods abroad over the same period one percent. This figure was also down compared to 1.75 billion during the Spring Festival in 2012 nearly 53%, reaching its lowest point in five years according to Bain's statistics, 60% of the 2012 total luxury spending occurs overseas Chinese people, only 40% of consumption generated from the local market. Increasing overseas travel and the euro widening spreads are driven luxury home consumption abroad rapidly rising factor. Former CEO of Richemont Asia Pacific Gouten consultancy company founder Francis Gouten in an interview also confirmed that the cause of the adverse development of the Chinese market is mainly an increase in foreign buying.
In this regard, Minister of Commerce Chen Deming said in an interview said publicly that should reduce the domestic prices of luxury goods. Now there are a lot of imported luxury goods in the domestic market, we need to continue to expand this consumer. He pointed out panerai luminor that the current problem is the domestic luxury market prices much higher than abroad, in addition to urging the luxury brand price as soon as possible, but also to reduce the Excessive consumption of luxury goods in foreign tourist phenomenon. Wind from the less frugal gifts luxury consumption shrinking
In addition to luxury consumption by the exodus of the impact, the government restricted public spending, and initiated a new policy of thrift, but also to public consumption, fewer gifts consumption, which inhibits the gift of luxury consumer trends to some extent, also make the traditional gifts of luxury consumer market appeared to shrink a luxury market analysts told reporters, since late last year, many entrepreneurs and executives who are present have been suspended for a luxury gift buying behavior. Now have advocated thrift, buy luxury gifts crime against the wind not it? Recently bought a luxury when it comes to gifts when very few customers, he noted, explaining the reasons for reporters, as the government and large companies do not further support for internal staff after spending generous gifts and other reasons, as a luxury gift superpower China consumer market to a screeching halt predict 2013 will become a luxury winter
For those who have a high profile to enter the Chinese market, and is sought after by people of all luxury brands in the domestic market was a cold, former Managing Director of Montblanc China, Lu Xiaoming analysts believe that the Chinese luxury goods market in the desperate situation without mature development, once the economy is bad here, consumers will once mature. So in 2013, in 2014, that nothing is too good face, the right to consumption will be reduced, and the government's fight against corruption, it will make public funds, gifts spending less and less.