The Mainland's Anti-Corruption Efforts To Crack Down On Luxury Consumption Are Significant.

< p > mainland anti corruption attack < a href= "//www.sjfzxm.com/news/index_s.asp" > luxury goods < /a > consumption.

Bain Co., the US consultancy, released a report in less than two months to reduce the growth of China's luxury goods consumption by 0.5 percentage points to 2% this year, the lowest growth rate since 2000, and believes that the slowdown will continue to 2014.

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< p > < strong > China luxury consumption prospect forecast < /strong > < /p >

< p > Bain published the "China Luxury Market Research Report". This year, China's luxury goods consumption was 116 billion yuan, rising by 2% per year, an increase of 30% and 7% compared with 2011 and 2012.

The study believes that the mainland's anti-corruption policy is against the consumption of gift giving. Under the appreciation of the renminbi, many consumers have shifted abroad to buy luxury goods, which has brought a double blow to the consumption of local luxury goods.

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< p > < strong > consumption 350 billion accounted for only 1/3 < /strong > /p >

Statistics show that mainland consumers continue to enjoy rapid growth in luxury goods overseas. This year, China's luxury consumption in the world has reached 350 billion yuan, up 14% from last year, but only three of them are from mainland consumption. The rest are Hong Kong and Macao and overseas a href= "//www.sjfzxm.com/news/index_c.asp" > market /a >, while overseas consumption is up 33% this year.

As for the Chinese, it continues to be the world's largest luxury consumer group, accounting for 29% of global consumption, up 4 percentage points from last year.

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< p > Bain global partner Bruno Lannes said that China's luxury market has been strongly contended by brands and has rapidly changed to a stable strategic development. Therefore, it is believed that the global brand mentality is finding where to grow and how to create growth.

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Bain published a report in October, pointing to the depreciation of the Japanese yen. This year, the global luxury consumption volume rose by only 2%, with the mainland's growth of 2.5%.

But in less than two months, the agency lowered its growth rate by 0.5 percentage points to 2%.

Meanwhile, China's luxury goods Market Research Institute, the Institute of wealth research, expects that the domestic consumption of China's luxury goods market will reach $28 billion this year, increasing by 3% annually, while overseas consumption will increase by 74 billion US dollars.

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< p > < strong > sales of Prada same store slowed down > /strong > /p >

< p > many luxury goods companies such as Prada are facing a slowdown in sales growth in the mainland.

Prada's performance in the semi financial year ended on the end of July this year, but the sales growth in the Greater China region, including Hong Kong, Macao and the mainland, slowed sharply to 13% in the second quarter.

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< p > earlier, it has been reported that Prada management told analysts that the sales growth of the same store in the mainland has been only a few units so far this year, which is less than 7% of the same store sales growth in the first half of the fiscal year.

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< p > > in the men's < a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > category, Hongkong a target= "_blank" href= "target=" > textile ">" Li Feng "group, the senior men's wear retailer Li bang in the first half of June 30, 2013, sales and profits also declined, sales revenue fell 2.1%, mainly due to the same store sales in the mainland fell 10.2%, and net profit is reduced by 43.4%.

In the third quarter of this year, the HUGO BOSS (Hugo Bos), a luxury brand dominated by men's clothing, also slowed to 4% in the Asia Pacific market, led by China.

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< p > for the future direction of the Chinese market, Nick Hayek, chief executive of another watch brand Swatch (Swatch) group, said in an interview with foreign media that the Chinese market is expected to resume in the second half of the year.

But HUGO BOSS has changed its previous optimism. The group's CEO Claus-Dietrich Lahrs recently told investors conference in Hongkong that the Chinese market will hardly return to double-digit growth in the next few years, and the Chinese market will be difficult.

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