China Is Entering A New Era Of New Luxury Market.

< p > China is changing and luxury brands are becoming more and more suitable for China.

In the past few years, there has been a major structural change in China. Alexandre Ricard, Pernod Ricard's new chief executive, said in contact with the Chinese market: "China is becoming a normal emerging market."

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< p > chairman Xi Jinping's opposition to extravagance leads to a slowdown in sales of luxury goods in China.

According to Bain consulting, luxury goods consumption increased by 2% in 2012 compared to 7% in 2013.

Beijing used to be the number one city of luxury goods sales in China, and fell to third place in the first quarter of this year.

Sales of leather goods and watches that have been selling well are also declining.

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Stephen Urquhart, chief executive officer of OMEGA watch, records how P affects everyday behavior of luxury consumers.

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< p > "we see some watches, some of which are very expensive for sale.

But people are even afraid to buy, in order to keep a low profile. "

Urquhart said.

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P now, the company is avoiding the luxury luxury Association, emphasizing quality and authenticity when marketing their products.

Rebecca Wang, senior customer manager of custom suits in Italy, said this trend reflects the tremendous changes in consumer tastes as well as the current political climate in China.

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< p > "today's China a href=" //www.sjfzxm.com/news/index_c.asp "consumer > /a" is more complex and rational, because many of them are close to western culture through their work and study.

Wang said in an interview.

At the same time, luxury goods are no longer the only deals with the super rich.

The growing middle class has their own tastes and pursuits.

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< p > according to Bain's research, although the < a href= "//www.sjfzxm.com/news/index_c.asp" > the whole economy < /a > makes the purchase of luxury goods slowed down, it is interesting that the purchase of female fashion brands has increased dramatically.

Since almost 70% of Chinese women work outside the country, they used to be a male dominated market, and the weight of women gradually increased.

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< p > "Chinese women have strong personalities. They usually buy for themselves rather than as gifts."

Celion CEO Marco Gobbetti said.

China Daily reported that Gobbetti was "not very affected by the slowdown."

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< p > other luxury brands want to find a stable second tier city in China. The McKinsey Global Research Project will develop 45% Chinese middle class and upper class before 2022.

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > Urquhar < /a > t stresses that it is important to pay attention to these areas just as concerned with China's first tier cities.

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< p > "China is not just one or two cities.

Beijing and Shanghai are very important.

But other cities may be more mature than people think.

I am surprised to see that the retail environment in other cities is not backward at all, but on the contrary, it is very advanced.

He said.

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