The Potential Of Local Luxury Goods In China Deserves Attention

In recent years, the performance of top luxury brands in the Chinese market has been seen for all to see. A recent research report said that Chinese consumers bought 25% of the world's luxury goods.

At the same time, the report also pointed out that the consumption of Chinese tourists has also become an important support for the growth of the luxury market, accounting for 40% of the global luxury consumption growth.

foreign country

Branding can be said to be a smooth development in China.

In November, Hermes announced to the media that the development of China's market was promising while announces the 2012 sales forecast data. In addition to steadily increasing the number of stores in China, it plans to invest tens of millions of euros to build high-end Chinese brands in the next 5 years.

This has to be sob, and foreign monks will chant scriptures.

A French company has to spend a lot of money on building China's luxury brand, but the development of our local luxury brands is now struggling.

This is a new embarrassment that has emerged as the second largest luxury country in the world: luxury goods, no luxury brands.

Have the ability to consume, no creativity.

Even in recent years, several Chinese brands sold as "luxury goods" abroad are rarely known at home and are more difficult to be recognized and purchased by most Chinese consumers like LV, Hermes and so on.

Recently, the Institute of wealth quality released the "2012 China luxury report". The report indicates that 48% of consumers believe that China can generate its own luxury brands, up 16% from last year, but 52% of consumers still have a negative attitude.

In addition, Chinese consumers generally believe that jewelry,

Liquor and porcelain are the most easily generated areas of Chinese luxury brands.

Research shows that 90% of consumers can't answer the question when they answer "what brand of Chinese brand can become a luxury brand", only 10% of consumers mention certain brands.

Although some consumers are full of confidence in Chinese brands, they are more motivated by national sentiment and expectations for Chinese brands. In fact, Chinese brands have not made effective achievements and have been recognized by Chinese consumers.

We should admit that the gap between local luxury brands and international luxury brands can not catch up overnight. Luxury goods are a combination of art, culture, technology and nature. Luxury brands must be kept in position for decades or even for hundreds of years.

The opposite of luxury is not poverty, it is vulgarity.

This is what many companies who want to make luxury goods must pay attention to. Do not blindly reflect the luxury and extravagance of the brand from the price. We must know that the core competitiveness of the luxury brand is high quality, scarcity and unique culture.

Luxury goods are not only goods, but more importantly services. We should seize the mentality of consumers who do not follow the crowd, provide customers with the quality they want to spend heavily, value the rarity and diversity of luxury products, and emphasize the historical and cultural background of products.

In addition, luxury goods are for specific people, not for most consumers.

It is hoped that China's luxury industry can be as optimistic as that of Bain, an international consulting firm: Although China's luxury brands currently active in the international arena are far from being able to compete with LV, Gucci and other top brands.

However, there is no doubt that the potential of China's local luxury goods deserves our attention.