Luxury Cards, Big Brands, Cold Drinks, Or Life.

Chen Zhongwei, head of the world's largest commercial real estate consultancy, China's regional research department, said in an interview with reporters, "the luxury industry in China has gradually entered the consolidation period after major events such as luxury brand reduction, import tariff reduction and overseas shopping craze in 2015, as well as the introduction of the central anti-corruption measures and the diversified development of luxury purchase channels.

Faced with stagnant growth in performance and rising operating costs, some representative luxury brands have begun to integrate their stores in the Chinese market, aiming to shift their focus to the core market. Chen Zhongwei expects that the number of new luxury stores will be limited in the coming year. In the face of the cautious development strategy of luxury brands, some shopping malls have to turn to seek more high-end high-end luxury brands to operate. In the short term, there will be more room for light luxury brands.

It is worth noting that experiential consumption has gradually become an indispensable form of shopping center. For example, the proportion of restaurant area in shopping centers has increased from over 10-20% to over 30%, or even 50 -60% in some new projects. At the same time, the rapid expansion of multi brand buyer shops, especially in the second tier cities, has also attracted the attention of brands and expanded the new mode of cooperation.

Chen Zhongwei expects that the impact of shrinking overseas shopping and gift consumption on the entire luxury sector will continue in the short term. The recent surge in the stock market and worries about slowing domestic economic growth will also have a negative impact on the sale of luxury goods to some extent, and the recent expansion of luxury goods retailers in China has become increasingly cautious. The consumption structure of domestic luxury goods has changed. New consumer groups pay more attention to personalization, experience and luxury goods sales. channel Increasingly diversified, directly promoting the transformation and upgrading of luxury boutiques, display, experience and service functions become increasingly prominent.

Since 2013, there have been many unfavorable factors in the development of luxury goods industry in China. The development of luxury luxury stores has been shaded by a sudden shadow. Despite the further increase in the number of new luxury stores in 2013, there are two special reasons behind the figures. First, a large part of the new stores in the past two years reflect the expansion needs before 2013, especially for the first-rate luxury brands, which usually lag for more than half a year from the formulation of the location of the location to the shop, and the second part of the new store is contributed by the light luxury brand with a low base of stores before 2013.

Whether it's a luxury brand or a luxury brand. Light luxury brand In a short span of two years, there has been a decline in single store sales, indicating that the total number of stores has been showing signs of saturation. The new stores in these two years have also overdrawn the expansion needs of the next few years to some extent. The number of new stores in the first half of 2015 has declined significantly.

Bain consulted data in the third quarter of 2015. Consumer The cost of shopping for luxury goods overseas increased from 24% in 2010 to 38% in 2014. The most influential ones are domestic luxury distribution agents and high-end retail property owners drawn from sales.

Since the promulgation of the eight regulations, luxury consumption of people who are accustomed to gifts and official consumption has been injured. From the perspective of formats, the restricted consumption forms such as sending shopping cards and gift cards have been thoroughly implemented in government institutions such as state owned enterprises, to a certain extent, affecting the sales revenue of high-end department stores and other formats. From the perspective of categories, men's watches, leather goods and garments have become the hardest hit areas due to corruption. Swiss watch industry federation released data show that since 2013, the total value of Swiss watches exported to mainland China has declined continuously, especially in the 20213 years when the watch sales in other major countries in the world are on the rise, the total value of Swiss watches exported to mainland China has dropped by 12.5%. Data in the three quarter of 2015 showed that the Swiss clocks exported to mainland China in 2011 increased by more than 30% over the same period last year.