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Transcript of Luxury
$7.2 billion -Current Situation and Trend -Analyze consumption factors -Dicuss advantages and Drawbacks on economy -Conclusion Luxury good Luxury market Luxury tax Luxury lifestyle $59,995.00 $43,400.00 Price? NO Essential Affluence Limit high class Change Income Source: McKinsey Quarterly The current consumer market Luxury development features Source: McKinsey Quarterly Second largest luxury market in 2012 Chinese luxury consumers prefer to shop overseas Why? increase of 29% from $5.6 billion Travel Chinese personel disposable income levels Total value of China's domestic luxury market reached $10.7 billion in 2010, up to 13.8% over 2009. Development Features Chinese consumer group 20-40 year old
Western countries, the 40 to 70-year-old consumer groups, significantly younger Consumer motivation Consumer psychology Social Individual Quality,
Self pleasure Show off
symbol Show off
Taste Advantages Promote the formation and development of emerging industries Big boost E-commerce 3.5 million hits during the 30 days Potential market, Pursue oppurtunities Advertisement Sector Service Sectors Pay for service Broadcast in prime time to promote product Improvepublic awareness Competition Creation,Innovation Changes in competitiveness of domestic product Cultural value China's domestic luxury special Target Global market Disadvantages Abnormal consume behavior Imitation market Money management AUD1000,00 AUD50,00 Irrational consumer structure 73% 45 , 45% 18-34 Luxury consumption blind consumption,
pre-mature consumption 国内外奢侈品消费失衡 imbalance between domestic and foreign 2010,56%,13Billion Drain of capital Outflow of fund Price Tax Rate Benefits Drawbacks Potential Market Discussion In your opinion,From what lervel of product belong to luxury goods? For example, do you think Iphone or Ipad is luxury goods? Do you think Luxury goods are worth to buy even with high taxes?