Bain贝恩咨询：中国奢侈品市场研究 英文版 下载 China Luxury Market Study Bain company.Image.Marked2.Image.Marked.pdf

2012 China Luxury Study Bain Point of View December 2012 This information is confidential and was prepared by Bain Company solely for the use of our client; it is not to be relied on by any 3rd party without Bains prior written consent Key trends observed in 2012 (1 of 2) • Deceleration of growth in mainland China started in Q4 2011, continued in 1 2012, and aggravated since October 2012. Overall year-on-year growth expected to slow down to ~7% from 30% in 2011 -Watch jewelry categories are most severely impacted; Slowdown for leather goods, menswear, shoes; -Cosmetics and women’s wear are relatively more resilient • Acceleration of Chinese buying overseas, especially for watch, jewelry 2 leather goods -Overseas spend account for 60% of total Chinese spend -Differences by category: watch, jewelry leather goods are more popular for overseas purchase due to more significant price gap; impact on cosmetics category more limited -Europe benefited due to widened price gap caused by weak euro; HK growth slowing down, while Macau still growing strongly -Chinese have become #1 nationality of luxury spending • Overall store openings starting to slow down, although some brands still 3 expanding rapidly; existing store renovations and expansion continuing • Stability in terms of overall brands share and purchase intentions vs. 4 previous years, even if 2012 saw contrasted brand performance -Top 5 brands still account for ~50% of each category -Brand desirability varies for Chinese men and women -In BJ/SH, the most likely to purchase brands remain the same for watch, women’s wear jewelry; some changes of ranking in other categories This information is confidential and was prepared by Bain Company solely for the use of our client; it is not to be relied on by any 3rd party without Bains prior written co