Luxury Adversity Rebirth New Style Design Limited Edition

In order to attract more Chinese consumers,

Companies are making every effort to increase their visibility in China, expand exposure and seize the market.

However, problems also follow. Excessive distribution of goods makes products spread everywhere in streets and alleys, thus losing the original "exclusiveness" of luxury goods.

As Chinese consumers, especially consumers in the first tier cities, are becoming more mature, they are gradually turning to other less well-known "niche brands".

We can easily find that Chinese luxury consumers are not buying the same brand repeatedly, but constantly changing and trying new brands and products.

In addition to low brand loyalty, this is also closely related to the fact that Chinese consumers are more frequent in luxury shopping and continue to understand and recognize the trend of more global brands and designers.

This is definitely not a good news for luxury companies. But how can we attract the new rich and retain relatively mature consumers? I think this is one of the major challenges facing many luxury companies, and it is also a question worth pondering and discussing.

Strictly control sales channels

It is very important to control sales channels well.

High quality sales outlets and good business circles are the key to establish and maintain brand image.

The location of a store and the grade of its adjacent brands often determine the image of a brand in the minds of consumers.

At the same time, we need to strictly control the third party sales and strengthen the construction of Direct stores.

Promotion, strengthening sales force, increasing the rate of return on investment in stores, but also can reduce the risk of the spread of counterfeit goods.

For example, Gucci and Burberry have been working hard to carry out rectification in China's sales outlets to solve the sequelae of rapid expansion in the past few years.

Diversified development

In order to build a broader customer base, luxury companies can consider the following strategies:

1) introduce sub brands with different prices and adopt differentiated names in order to distinguish grades and positioning.

For example, Armani has six different sub brands to deal with consumers of different income levels and different needs.

2) expand the product category.

For the new rich class, many luxuries are not yet within their limits. They may first choose to buy cosmetics or glasses, which are relatively inexpensive accessories, which is a must for luxury companies.

For example, perfume and cosmetics almost account for half of Chanel's sales in 2013; Burberry recently withdrew all control of the cosmetic product line; Gucci also launched its own new beauty products.

This will enable the brand to guarantee the high price and brand image of the core products while attracting other products with lower price.

Limited edition design

Luxury is a special feeling that I have and you don't have, so limited edition products have always been popular.

For example, Chanel likes to make limited money, the Mumbai Series in 2011, the Edinburgh Series in 2012, and the Dallas Series in 2013.

The image of a brand is not built in a day, nor can it be changed in a day.

Brand building is different, but there is no shortcut.

International luxury companies have enjoyed the past few years.

Driven by the explosive growth stage, from 2013 began to encounter a historical turning point, the future development will tend to normalize, is also reasonable.

But in fact, there is no need to be pessimistic. This change is not so much a challenge as an opportunity. I believe that a luxury brand with solid brand will be able to develop new growth points in the future and become the darling of investors again.