The Spring Festival is approaching, and major domestic high-end brands have ushered in a wave of sales peaks.
Offline, the well-known high-end brand stores in the Guangshen Shopping Center have seen queuing phenomenon at the entrance; the high-end collectibles of "medieval style" and the unpopular niche market have entered the bustling business district of Guangzhou, attracting 600,000 people to punch in and sweep goods in only three days. Online, the sales of chinese and foreign high-end brands of bags, clothing, shoes and jewelry have increased significantly.
Many citizens said that buying a brand name as a New Year gift is a ritual of hard work for a year and rewarding themselves with gratitude to relatives and friends.
Guangzhou's bustling business district has attracted 600,000 people to sweep goods in three days.
With the upgrading of consumption and the unstable impact of the overseas epidemic, the domestic consumer market has shown a clear trend of high-end and high-end return. In response to market changes, new commercial formats such as the Medieval Market, Ole Park, Duty Free Shops, and High-end Brand Collection Centers have emerged.
Wang Lizhu, assistant manager of the research department of Cushman & Wakefield Guangzhou, said that Guangdong consumers have always had a strong purchasing power, especially young consumers not only pursue personality and self-expression, but also attach importance to brand and shopping experience, and have a high willingness to consume high-end products. "In recent years, the obvious traffic growth of core business districts and benchmarking projects in Guangzhou and Shenzhen confirms that the demand for high-end consumption in Guangdong is constantly being released."
Buy high-end brands as New Year gifts into a new Ceremony for the New Year
Recently, in front of some brand stores in Taikoo Hui in Guangzhou, we saw a long queue.
"There are fewer people queuing up on weekdays. There are nearly twice as many people queuing up on weekends as there are now. On the afternoon of January 18, Miss Xu, a post-90s woman who was waiting in line in front of the LV store to enter the store, went shopping with her girlfriend. They plan to reward themselves with some year-end bonuses to buy designer bags before the Spring Festival.
In the store of the newly introduced Swiss skincare brand La Maison VALMONT, some young girls check online reviews on their mobile phones while shopping for new products.
In the past two years, many consumers have stayed in the local life, high-end consumption has increased significantly, in order to adapt to market changes, a number of high-end shopping malls have made timely adjustments.
Vintage jewelry
"In 2021, we will introduce 33 new brands, of which 20 are the first time to enter Guangzhou, and there are many first stores in South China or China." According to the relevant person in charge of Guangzhou Taikoo Hui, driven by the return of high-end consumption, the company's sales in the first three quarters of last year increased by 48.3% year-on-year, "since its opening, it has achieved 32 consecutive quarters and a cumulative sales increase of 38 quarters." ”
Guangzhou Friendship Store's international watches, jewellery and high-end cosmetics also performed well last year.
"Vacheron Constantin and Chopard debuted with a new image, limited editions and collector's editions were favored, and richemont watch stores also performed well, boosting the growth of famous watches to double digits." The relevant person in charge of the company said that the jewelry category is also popular, up nearly 40% year-on-year. High-end cosmetics still maintain a positive growth trend.
In Shenzhen, since last year, a number of international high-end brands have landed, Dior, Bulgari, Cartier, Louis Vuitton, etc. have successively held exhibitions, and the first Galeries Lafayette department store in South China has also been located in Shenzhen Shangcheng.
According to Cushman & Wakefield's research report, more and more mainland consumers are transferring overseas shopping plans back to China, and Beijing, Shanghai, Guangzhou, and Shenzhen have become the top cities in the mainland to buy luxury goods.
"Guangshen has always had strong purchasing power, and from the data of Double Eleven Tmall and JD.com in 2021, Guangdong Province's purchasing power ranks first in the country." Wang Lizhu said that the consumption mode of residents is constantly optimizing, and the potential of domestic demand is accelerating and being released.
Consumers are maturing and prompting businesses to innovate continuously
Under the background of national consumption upgrading, domestic high-end consumption is strong, and the speed of high-end consumption return is accelerating. At the same time, Guangdong's retail innovation is active, and a variety of new formats have emerged, meeting people's immediate and diversified consumer needs.
Since the middle of this month, a market gathering more than 50 medieval stores and 10,000 pieces of big-name medieval decorations has been stationed in Guangzhou Tianhe City and Panyu Tianhe City for two consecutive weekends and Sundays, attracting hundreds of thousands of passengers from the Greater Bay Area to come to Taobao and sweep goods. The citizens of the Greater Bay Area also experience the newly popular medieval style and second luxury services.
At the market site, the goods exhibited and sold by the stores have their own characteristics, and people can touch the classic models of LV, GUCCI, Cartier and other brands at will. The price is also close to the people, and some styles even sell for only 1,000 yuan. In the market, there are also professional appraisal agencies stationed to provide commodity identification services for the public.
There are professional appraisal agencies on site in the Medieval Bazaar to provide services
According to the data from Guangzhou Tianhe City, the first medieval market was held for 3 days, with a cumulative sales volume of more than 15 million yuan; the total passenger flow reached 600,000 people; the live broadcast sales of 1 million yuan, the highest transaction unit price of 260,000 yuan, is a Hermès kelly.
"The people who lined up to visit the market circled around Tianhe City, and the number of visitors on the first day of the market exceeded 10,000; driving the traffic of the mall up 9% year-on-year, exceeding 170,000." The relevant person in charge of Tianhe City said.
In addition, the recent opening of nearly 100,000 square meters of super-large Oleai Park in Huadu, Guangzhou, the guangzhou North Railway Station CTS Duty Free Complex invested at the end of last year, or OUTLET, or with the new model of "duty free + Oleai"; in the future, there will be the second Taikoo Hui in Guangzhou, the second K11 in Guangzhou, etc., these new commercial projects will bring more innovative retail formats and more high-end consumer content.
Used international brand bags are the most popular among young consumers.
Professor Pan Helin, executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, suggested that duty-free shops should expand their opening and enhance the characteristics of goods in the future, "The current duty-free shops mainly serve domestic customers, and after the future epidemic, the flow of foreign customers to duty-free shops will also increase." For foreign users, national tide goods are attractive; for domestic users, exotic imported goods are also attractive. ”
The industry believes that consumers' awareness of brands, their pursuit of beauty and the absorption of new information are growing rapidly. Mature consumption also forces market participants to constantly seek change and innovation.
[Reporter] Ou Zhikui Chang Daoli
【Author】 Ou Zhikui; Chang Daoli
【Source】 Southern Press Media Group South + client
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