South Korean Consumer Tastes Change, Luxury Sales Continue To Decline

P > "a href=" http://sjfzxm.com/news/index_p.asp "> /a > /a > sales decline, the overall performance of global luxury brands in the first half of this year is weaker than in the previous years.

According to an article in Korean business, sales of luxury goods are declining, and sales in Korea are facing severe challenges.

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A p August 6th article mentioned that whether Gucci's parent company Kai Yun group, the world's largest luxury group Louis Weedon (Louis Weedon store) group, or Italy luxury brand Prada all experienced the same experience, and their revenues and profits were lower than the same period last year.

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Sales decline of < p > a href= "http://sjfzxm.com/news/index_cj.as" > leather goods < /a > is considered to be the main reason for the poor performance of the luxury group.

The gross profit of leather products including handbags is higher than that of garments, and the sale of leather goods determines the overall profit margin of luxury brands.

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The change of people's purchase preference also affects the sales of luxury brands. < p >

Prada's sales in the Asia Pacific region dropped by 2%, although the brand's performance in China has increased by 12%.

Consumers in Korea, Singapore and Hongkong in China have reduced their consumption of luxury brand products.

In addition, the sales growth of Louis Weedon group in Asia (excluding Japan) was only 3%, far below last year's 13%.

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< p > in addition, last month's focus on the Korean luxury market reported that the weakness of the 3 luxury group's performance was related to the change of consumers' tastes.

According to the financial times, Korean young consumers prefer fashionable luxury brands rather than expensive traditional luxury brands.

According to the report, some brands have been considered too old and ordinary.

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