China's fastest growth in luxury consumption will overtake Japan's biggest consumer

Source: Internet
Author: User
Keywords Luxury goods consumer countries
Tang Chuncheng painting who in the consumer luxury (windows, luxury Consumption ()) This reporter Du Haitao after the international financial crisis era, when many European and American consumers still clutching tight purse, China's high-end consumption has blowout. So, who are the people who love luxury spending? What are the characteristics of China's luxury consumption? What kind of social change is surging under the appearance of high consumption such as luxury goods?  Recently, the reporter approached high-end consumer groups, to explore their true psychology and feelings. --editor of China's fastest growing luxury consumption "big brand makes white-collar straight spine, also dressed up the streets of Metropolis," Beijing's Xia (alias) every year to replace their LV handbags.  The white collar, who works for an international media agency in Beijing, drives an Audi A4 sedan and lives in an upscale neighborhood near Beijing's Da Wang Road. "Buy a brand, mainly to find a feeling." "The 37-year-old Xia still remembers the first time she went to Europe in 2001, where she first met Louis Vuitton (LV), Givenchy (Givenchy) and Chanel (CHANEL) in the Spring department store in Paris, France ...  A lot of famous brand let her dazzling and suddenly touched her. After returning home, Xia began to collect a variety of information related to luxury goods, often read the "world of clothing", "Fashion Bazaar", "Marija son" and other fashion magazines. Later, she found that many of the original distant big brand gradually came to China, came to the side. Some of my colleagues have already taken LV and put on the Omega watch.  In 2007, Xia first bought LV handbags, and since then entered the ranks of the luxury consumer. "Often with international customers, there are a few international brands, feel easy to be valued by others, spine hard."  Xia Frankly, for the monthly income of 8000 yuan, the burden of a LV handbag is really not light, but in order to "facilitate the work", this investment is still worthwhile.  International brand makes white-collar erect spine, also dress up the streets of Metropolis. Beijing da Wang Road subway station, this originally inconspicuous place, now because of a big-brand crowded shopping malls-new light world, become leading the domestic luxury trend vane.  Approaching the new light, Gucci (Gucci) Huge logo hanging in the most conspicuous place outside the wall, all the while flaunt here luxury and high-end. April 19, 2007, The new Light World official opening, here brings together the global 938 brands, has 24 international first-line brand debut in China. PRADA, CHANEL, GUCCI, coach, etc. are set up in the new Light World flagship store.  It is said that the flagship stores of these world-renowned brands will be "zero" with the global goods, and each new quarter will be identical with the goods displayed in Paris, France and New York. In Shanghai, the luxury of "the" is not weakness. May 2009, Nanjingxilu and Shaanxi North Road interchange, Gucci covers an area of 1600 square meters of Shanghai's new flagship store dress up opening. Subsequently, has been settled in Hang Lung Plaza for many years LV also announced the expansion of stores,The goal is to reach at least the size of the Gucci store. Last December, Goldman Sachs released data showing that China's luxury spending in 2010 amounted to $6.5 billion trillion, the first consecutive 3 years of global growth.  Goldman Sachs estimates that China's willingness to consume luxury goods over the next 5 years will rise from 40 million to 160 million. "In the next 3 years, China will replace Japan as the largest consumer of luxury goods."  "Zhu Mingxia, director of the Uibe Luxury research center, said. Young groups become the main consumer "big brand can foil identity, but also the cause, family success symbol" consumer luxury people originally mainly by the wealth of the upstart, style stars and other support.  In recent years, in addition to the rich and the stars, a larger number of young people began to become the main consumer luxury goods. Enjoying the afternoon sunshine, the 34-year-old Wang Yu sipping coffee at a coffee shop in Hengshan Road, Shanghai.  She just came back from the Huai Hai Sea. The law-Wang Yu is home to the Rhinebeck, formerly serving in the government, the husband is a law firm well-known lawyers, the income is quite abundant.  The year before the birth of the child, seeing a promotion hopeless, she simply resigned at home, when a full-time wife. "International brands not only can foil identity, but also a symbol of career and family success."  Wang Yu said, the idle at home is temporary, the child is big, oneself certainly also will kill back the work. Wang Yu's shopping bag is a conspicuous Prada windbreaker.  In the evening, she would accompany her husband to a dinner organized by a multinational corporation to prepare for the return to the workplace.  A survey has found that Chinese luxury consumers are about 20 to 40 years old, while luxury consumers in Europe and the United States are mostly 40 to 70 years old; Although 49% of respondents said they were unable to buy luxury goods, they planned to buy them in the future. "China's luxury consumption is entering the golden period. "Many people in the industry believe that China has emerged a group of consumers have the ability to consume the rich class, their pursuit of taste and personalized consumption, to become the backbone of luxury sales support." Luxury consumption also has a demonstration effect, also let white-collar, small boss race chasing, become "wave-like" consumption.  With more and more only children entering the society, their consumption concept is completely different from the previous generation, many families also have the strength to support their high consumption. Attracted by the enthusiasm of consumers to buy, coach has announced that July 2011 ago, in 41 Chinese stores on the basis of an additional 25 Chinese stores, HERMES also launched a tailor-made for the Chinese consumer brand "up and Down" (Shangxia), And in Shanghai opened the brand flagship store ...  Recently, the world's top brands have continued to open stores in China, showing a high degree of luxury market in China. Spending money or to the luxury of consumption, should not deliberately pursue, do not exclude the past, a mention of "luxury consumption", many people think it is "expensive, flashy" representatives. But in fact, luxury consumption is around us, extravagantThe advent of the era of waste consumption cannot be stopped. Zhu Mingxia that we are not going to promote luxury consumption, but in the face of the reality of China's luxury consumption class, how to guide Chinese consumers to face such a market? How to study the luxury brands of foreign enterprises?  This is a more realistic question. "A dialectical understanding of the consumption of luxury goods."  Insiders say the concept of luxury in different eras have different connotations: more than 10 years ago, owning a private car is a luxury to enjoy, now, the car dream in many families have been achieved; in the past, people in the streets rarely see someone to carry LV bag, now is commonplace. Wang Yao, deputy secretary general of China Business Federation, believes that the luxury consumer market may continue to heat up in the future, but luxury goods are by no means popular. From the merchant, the luxury marketing should consider the purchasing power and cultural level of the high-end consumer group in the region, not drilling.  From the consumer point of view, according to their own economic strength and cultural needs to choose. Experts said that the treatment of luxury consumption, should not be deliberately pursued, not exclusive. In the face of luxury goods, the emerging consumer market, to rational guidance, positive support, can not beat him, but also can not kill luxury consumption in the bud.  For the family and individuals, in the luxury consumption should adhere to the principle of rationality, can not deliberately fashion, chasing fashion, but not for a moment to achieve the goal, "Die face-saving suffer." "Spend money or do what you want." "Shandong's Changhui in Jinan for several years, he from a media advertising department of the salesman, and gradually grew up as a public relations company general manager, but nearly 10 years down, small often always keep a calm heart:" Those big brand look bluffing, but use up and ordinary goods no different. " We rural people, buy things as long as easy to use, practical on the line. "What is luxury (extended reading) so-called luxury goods, generally refers to those beyond the survival and development needs of the scope of the unique, scarce, exotic and other characteristics of consumer products."  Broadly speaking, it gives consumers a kind of elegant and exquisite lifestyle, pay attention to taste and quality and mainly to high-end market products, including high-grade garments, luxury jewelry, big bags, and even private aircraft, luxury yachts, villas and so on. China's luxury goods market accounted for 12% of global sales in 2010, after 41% in Japan and 17% in the United States, a report on China's luxury market was published recently. By 2015, China's total consumption of luxury goods will account for 29% of the world. According to estimates, China has 175 million consumers have the ability to buy luxury goods, accounting for 13.5% of the total population, of which the top 10 million-13 million people are active luxury buyers, the purchase of products mainly include watches, purses, cosmetics, fashion and jewelry and other personal accessories.  The annual income of this group is more than 240,000 yuan. The agency's report also shows that there is also a trend towards consumption escalation in the process of luxury consumption. Ties, leather shoes, purses and other small accessories and cosmetics are "entry level" luxuryLuxury goods. And with age, income growth and the maturity of the psychology of luxury consumption, consumer orientation will gradually shift to clothing, watches, jewelry and other intermediate luxury goods, most people's consumption stops here.  For millions of rich, their consumption will continue to escalate, luxury cars, mansions and so on become their next target. (Shangwen)
Related Article

Contact Us

The content source of this page is from Internet, which doesn't represent Alibaba Cloud's opinion; products and services mentioned on that page don't have any relationship with Alibaba Cloud. If the content of the page makes you feel confusing, please write us an email, we will handle the problem within 5 days after receiving your email.

If you find any instances of plagiarism from the community, please send an email to: info-contact@alibabacloud.com and provide relevant evidence. A staff member will contact you within 5 working days.

A Free Trial That Lets You Build Big!

Start building with 50+ products and up to 12 months usage for Elastic Compute Service

  • Sales Support

    1 on 1 presale consultation

  • After-Sales Support

    24/7 Technical Support 6 Free Tickets per Quarter Faster Response

  • Alibaba Cloud offers highly flexible support services tailored to meet your exact needs.