“It was exactly like that occupies game …… you only need to build brand awareness can make money as soon as possible, but now the honeymoon period is over, when Western brands to enter the Chinese market, to cater to the world’s most discerning consumers. “May 15, 2014, David Roth, vice president of 4A advertising company to” China Economic Weekly “case of emotion David Roth served many luxury brands, witnessed the Chinese luxury goods market from scratch to become the world’s favorite, then and now so many big luxury “love-hate” of course. When the 2014 report on the global luxury market forecast that the Chinese mainland market, 2% 4% growth rate is far lower than the depreciation of the yen led to consumer reflux Japanese market growth rate of 9% 11%, even less than in Hong Kong, Southeast Asia Area 3% 5% growth, the Chinese mainland luxury market into cold ended in May 2014, the annual report and the latest quarterly major luxury brands have been released from the earnings point of view, luxury goods giant day indeed very difficult. The world’s largest luxury goods group LVMH Group (and many other brands have LV) released the latest results, the group first quarter sales rose 4%, operating income includes wine and wine sector, decline, making LVMH Group in China the growth rate of the market continued to slow. Meanwhile, Li Feng Group (Richemont) and other luxury goods companies also said it would slow down expansion in China. One official told the “China Economic Weekly”, the anti-corruption impact on a great wave of luxury gifts, traditional Chinese Mid-Autumn Festival last year, shopping malls and hotels have discipline inspection personnel inspect the shopping card and dinner consumption, “From luxury cars to watches, from high-end apparel to shark’s fin sea cucumber, have an impact. “In addition, with the development of overseas purchasing market, many young consumers are no longer part limited to the store to buy luxury goods. Cinderella is a white-collar workers in Beijing. She likes to buy “entry-level luxury.” She told the “China Economic Weekly”. “Now who would go to the store to buy a pack ah? Unless it is not to spend more money. My coworkers and friends are looking for purchasing, a package can be cheaper one thousand dollars.” Cinderella smiled and said. “Maybe someday I can do the business of purchasing luxury goods.”
Although faced with these challenges, but it is undeniable that the Chinese market is still chasing the international luxury goods company size objects global director of McKinsey & Company Yuval (Yuval Atsmon) told the “China Economic Weekly”, although growth has slowed in China, But the potential for luxury consumption in China is still far greater than any other country. China will become the world’s largest luxury goods demand in the face of slow growth engine market, big luxury playfully began to improve collective pricing of goods, route the reporter continued, “the tall,” found that from mid-April 2014 , Chanel (Chanel) the Classic Flap series medium, large price 450 euros; 2.25 series price 450 euros for each model; Le Boy series Medium price 300 euros, or about 15%. Among them, the Hermes ‘Hermes’ Kelly bag classic 10 years has been transferred to $ 7600 from $ 4800; LV Speedy bag is also a 32% increase; jewelry brand Cartier love bracelet replica price increase 6-10% this regard, the New York research institute “luxury Institute “president Pedraza analysts believe that one of old luxury fare intention is to differentiate their products and cheaper entry level luxury, hoping to maintain the” high profile “to maintain their image Bain & Company said luxury product report also pointed out that the luxury market product lines are polarized. Luxury big increase in the price to go up when the “entry-level” luxury light was playing the “cost” of the brand to young consumers closer in 2013, bid farewell to the double-digit growth in China’s luxury market, a lot of brand to become more and more stores opening conservative.