Coach has suffered great loss after it’s renamed

According to the Italy luxury industry association and Boston consulting company, the global luxury goods industry consumer insight of the 2017 year shows that the pace of global luxury market growth gradually gradually gradually, in the next few years, the global luxury industry growth will be from the average 8%-10% in recent decades, to the 2%-5% interval. Among them, China’s market consumption growth rate has entered the low single digit is one of the main factors behind this trend.

The structural slowdown of the global luxury market is accompanied by a key transformation of the consumption mode, which constantly rewrites the competition pattern of the luxury market. Brand needs to constantly adjust brand and product strategy to ensure core customers always win in the new environment. So, 2017, what are the new trends of luxury industry that need attention?

2/3 of consumers are no longer keen on formal dress as they used to be. This is mainly because the formal dress of the mature consumer wardrobe has been able to meet the formal needs; in addition, the dress style of the younger generation is becoming increasingly casual. At the same time, the demand for personalization, especially customized products is increasing day by day, and has become an effective way to improve consumers’ purchase intention.