The Chinese Luxury Market Will Be Dominated By Low-Key Connotations In The Future.

< p > the ability of Chinese to buy "a href=" //www.sjfzxm.com/news/index_c.asp > luxury goods < /a > is increasing at a faster rate than expected.

According to the 2013 "China luxury report" released by the Institute of wealth research, China luxury goods Market Research Institute, the annual consumption of luxury goods in China exceeds 100 billion US dollars, supporting the half of the global luxury market, and the largest luxury customer in the world.

Experts predict that in the future, the luxury market will further grow, and consumers will gradually become rational and mature. Consumption will usher in a "cost-effective" era.

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< p > < strong > the middle class has strong purchasing power < /strong > < /p >

< p > the wealth Quality Research Institute shows that China's luxury goods market is divided into two parts: local consumption and overseas consumption. In 2013, local consumption will reach 28 billion US dollars, with an expected increase of 3%. Overseas consumption will further increase to 74 billion US dollars, and the sum of two people will add up, and the total consumption of luxury goods in 2013 will reach 102 billion US dollars.

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< p > although the global luxury market is facing many pressures in 2013, the annual growth rate is expected to reach 11%. Among them, the Chinese will buy 47% of the world's luxury goods.

In 2012, Chinese luxury goods accounted for 40% of the total consumption in Europe and the United States, and by 2013, luxury goods in the mainland had been as high as 80%.

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< p > the strong purchasing power of Chinese people is mainly due to the good economic growth of our country and the rapid growth of the wealthy buyers.

Zhao Ping, deputy director of the Consumer Economics Research Institute of the Ministry of Commerce, pointed out that China's economic strength is growing and its per capita income is increasing. This has promoted the Chinese consumer confidence, especially the middle class, and is more willing to buy quality luxury goods to improve the quality of life.

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< p > nowadays, Chinese people buy luxury goods not only for their own enjoyment, but also for giving away their friends.

In response to this demand, a large number of luxury goods groups have entered the Chinese market.

The wealth Quality Research Institute has found that the growth of the global luxury market is mainly due to the growth of emerging consumer power and the increase in new markets and new stores. Even in the case of large luxury goods groups controlling the number of stores, the average growth rate of luxury brands in 2013 will still reach 9%.

According to statistics, in 2012, the world's major luxury brands have successively entered China's first tier cities.

The luxury goods market in Beijing, Shanghai and Guangzhou is close to saturation.

Beginning in 2013, many luxury brands began to develop into China's second tier cities.

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< p > < strong > consumers are becoming more rational. < /strong > /p >

"P" is different from the blind worship of famous brands in the past few years. Nowadays, Chinese consumers are becoming more rational.

According to the survey of 4650 Chinese high property consumers by the wealth Research Institute, many luxury brands have been abandoned by Chinese consumers, especially those of super high asset luxury core consumers.

In 2013, the luxury goods market gradually became rational. Luxury buyers gradually shifted from the social elite to the middle class.

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< p > "the consumption of luxury goods in the Chinese market is increasing, but the growth rate has declined. The previous years were 20% to 30% growth, and now it is a single digit growth."

Zhao Ping analysis said that the decline of growth is related to the pformation of consumer culture.

First of all, from the outside, the state limits the consumption of "three powers", and the luxury consumption atmosphere in the society is changing.

From inside, luxury goods have entered China for more than 5 years. After the rendering and precipitation, the consumption culture of local tyrants has turned to a low-key, restrained, quality and conspicuous consumption culture, and the consumption of luxury goods has rapidly matured.

Secondly, more and more people are willing to buy luxury goods abroad, because at home and abroad < a href= "//www.sjfzxm.com/news/index_s.asp" > price < /a > bad, and more and more shopping channels abroad.

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< p > research also found that the popularity and fashion of luxury brands have been strengthened.

With the gradual growth of consumers and the improvement of information pparency in commercial society, the premium space of luxury goods has been further reduced, and more and more consumers are paying attention to the price performance of luxury goods.

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< p > < strong > the future is dominated by low-key connotation < /strong > < /p >.

< p > with people's consumption concept becoming rational, the future luxury market may go downhill.

The China luxury report predicts that the escape of core consumers with high assets will further intensify in the future, while the growth rate of consumers at the edge of medium assets will further slow down.

In the next 3-5 years, luxury core consumer fleeing will further affect consumer enthusiasm of marginal consumers and potential consumers, and luxury brands will have a large-scale recession.

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< p > although the luxury market is likely to decline, the Chinese market will continue to grow, but the growth rate is decreasing.

Zhao Ping said that the scale of China's luxury goods market will increase in the future, because people are rich, and there is bound to be demand for high-end goods.

But consumer culture will be low-key, cultural and conspicuous.

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< p > Zhao Ping also predicted: "in the future luxury goods market, the trend of domestic and international parity will become more and more obvious, and the domestic market will no longer be partitioned as it used to be, but will be integrated into the international market."

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< p > wealth Quality Institute predicts that the future customization of luxury goods "a href=" //www.sjfzxm.com "> industry" /a "will usher in large-scale development opportunities, and luxury brands that embody individual colors will be more sought after.

By the end of 2013, the number of customized brands in China's luxury goods market will exceed 4000.

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