This Year, The Global Luxury Market Growth Slowed Down By Only 1-2%

According to statistics, China mainland and

The continued weakening of regional economies has led to global growth this year.

The growth of the market is slowing down, with a growth rate of only 1-2% and a constant exchange rate, which is lower than the growth of 3% in 2014.

In fact, the slowdown in the growth of luxury goods sales is also affected by the strong appreciation of the dollar, and more tourists choose to go to Europe.

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According to statistics, by the end of this year, sales of jewelry, fashion and accessories will reach 253 billion euros ($277 billion).

Bain & Co.

According to a research report of Italy luxury industry association, according to the current exchange rate, the sales of luxury goods will increase by 13%.

Looking back on sales growth in previous years, the current exchange rate rose by 13% in 2011, up 5% in 2012 and 6% in 2013.

The slowdown is also affected by the decline in demand for luxury goods by Russian consumers. Russian consumers are no longer keen on luxury purchases as they did last year, thanks to the rouble depreciation.

Last year Russia was a big consumer of luxury goods after China.

Claudia D'Arpizio, a research leader, said that the number of local luxury consumers in Europe and North America has been on the decline in the past five years, adding many difficulties to the luxury industry, and many big brands have angered local consumers by raising the price of a single product.

Claudia D'Arpizio predicted a few years ago that sales of some luxury goods could create an increase in 30-50%. However, regional price differences and tariff problems, as well as the unstable economic environment, led to a slowdown in the luxury market.

She said frankly: "I think some luxury brands attach too much importance to the Chinese market, leading to the loss of many European local customer base, but further disgust European consumers."

Now more and more consumers in Europe and the United States choose to shop at discount stores, because they can buy their favorite brand products at a lower price.

The bain report predicts that sales of discounted goods account for 10% of total sales of luxury goods, and its revenue is 2 times that of the past three years, reaching 26 billion euros.

According to the report data, Chinese consumers represent 31% of the total sales of luxury goods, followed by

24% and 18% of Europe, it is estimated that 80% of China's luxury shopping is done abroad.