World Luxury Association: Sales Of Luxury Goods In China Have Slowed Down Significantly.

< p > the latest report of the World Luxury Association shows that between January 20, 2013 and February 20th, the total consumption of luxury goods in the mainland of China amounted to 830 million US dollars, down by nearly 53% compared with the sales during the Spring Festival in 2012, and the sales of Chinese luxury goods market had obviously slowed down.

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In the past few years, China's GDP has continued to rise, and it has been strong in the financial crisis, and the luxury craze has been rising rapidly. P

This series of phenomena has led to misreading among Chinese people, and the trend of irrational consumption supported by strong consumer confidence is also growing.

However, from the fourth quarter of last year to the first half of this year, China's economy is facing downward pressure. The weakening of the overall economic forecast has affected the consumer confidence to a certain extent, which is one of the reasons for the cooling of luxury consumption.

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< p > in addition, luxury consumption is the main market target of middle and high income groups, but these limited groups can not afford to follow up long-term market expansion.

The huge tax gap is a sharp loss of the domestic market, and signs of luxury consumption developing overseas are becoming increasingly evident.

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< p > however, at the end of last year, the central government promulgated the "eight regulations" and "six prohibitions", the most serious blow to the luxury consumer market.

A series of new policies are aimed at combating corruption and effectively curb public spending and extravagance and waste.

The "virtual fire" of public consumption has been lowered, and the abnormal consumption of a large number of market share has been reduced.

This is undoubtedly an important opportunity for the pformation of the domestic consumption structure. The Chinese luxury market, which was originally heated up, was squeezed out of the "water" because of the policy effect, and the actual consumption power of the remaining 72% after the removal of the gift market was clear at the same time.

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< p > for China, the cooling down of the luxury market is mainly due to the great changes in the visible domestic consumer market.

The pformation of the consumption psychology and the structural pformation of the market is developing rapidly with this opportunity. This is the course that must go through in the era of rational consumption, that is, from the pursuit of luxury consumption to the sustainable consumption of quality and service.

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< p > China's luxury consumer market, which was widely valued at home and abroad and believed that "it can still be hot for several years" has suffered a lot in this large-scale shuffle.

But looking back, it is only a matter of time before the luxury goods market in China is stripped of its bright coat. There is no long-term market for the market without the support of a wide range of consumer groups.

In the crushing process of consumption bubble, policy has played a catalytic role and has not changed the final outcome.

But in time, they woke up the Chinese people and businessmen who were busy dreaming under the "high" consumption index.

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< p > rational consumption is the direct thinking brought about by the cooling of luxury consumption, and it is also a bright path for the foresight of China's consumer market.

This requires the entire domestic luxury market to seize the opportunity to change the consumption concept and pform the consumption structure, and advocate moderate and sustainable consumption.

At the same time, we should cultivate our own brand and turn our attention to the middle income group as the main consumer group. We should actively expand public consumption instead of relying on public spending and high-income group consumption, and strive to improve product quality and service level.

To usher in the rational consumption era is still a long way to go for China, but the reduction of luxury is the first step. We take a positive and optimistic attitude towards the pformation that this fable will bring.

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