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Home > News > Industry News > More and more people care abou.....

More and more people care about 'BRAND' but not “PRICE”

In 2015 the number of new middle class in China and a surge in overall spending power of the outbreak, with the "Internet +" economic boom swept, 2016, China formally entered a new era of middle-class consumption. The new middle class based on the traditional middle class, quality of life and consumption concept is higher than the traditional middle class, and there is more emphasis on the fashion consumer groups and the pursuit of exclusive consumer trends.

The new middle class, with respect to life consumption cost considerations have been living in the second place, the pursuit of quality of life, improve the quality of beauty to become the new middle class consumer new impetus. Beijing Daily survey shows that the new middle class are relatively fixed monthly fashion goods consumer spending, 18% of consumers monthly fixed fashion goods expenditure up to 3000 yuan; fixed monthly expenses of about 1000-3000 yuan fashion goods consumers account for about 49%; about 25% of consumers monthly fixed fashion goods expenditure 500-1000 yuan, while the monthly expenditure of 500 yuan fashion consumers accounted for only 8%.

In the new middle class is relatively stable capital flows, consumption has invested more obvious categories. Surveyed the new middle class, 60% of people like to purchase fine clothing and fashionable footwear; approximately 29% of the people interested in skin care and beauty products purchased; watches and fine jewelry bag as a small minority consumer products group, respectively, accounted for 9%, 1%.

Under the impetus of consumption upgrade, the new middle class consumers will pursue expensive and has a higher consumption of luxury experience. Currently, the global luxury brands have become the new middle class attention and spending billions of dollars worth of objects. In the first-line luxury brand of choice, more new middle-class consumers were showing the French luxury brand Hermes Hermès Paris favorite, accounting for 22%; in second place in the same line is the French luxury fashion brand Givenchy Givenchy, accounting more than 18%; the best example of having a female independent French luxury fashion brand Chanel Channel 15% share ranked third; while the French luxury brand Celine Celine Paris and Italian luxury brand Prada Prada 13%, 11%, respectively accounting arrangement fourth and fifth.

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