[Editor's Note] "Wealth Quality", China's largest circulation magazine for rich people7The monthly magazine "Luxury Observation" is launched for the first time, Executive Deputy Director of the Luxury Goods Research Center of w88 casinoRen ZhoutingThe doctor was invited to serve as the chief w88 online sports betting researcher and special column writer of "Wealth Quality", and published in "Wealth Quality"7The monthly magazine published an article "w88 online sports betting?" A tower near water may not necessarily get the moon first.”
The full text of the article is as follows:
w88 online sports betting? The tower near the water may not necessarily get the moon first
Although almost all first-tier international luxury brands have entered China, including Beijing’s Shin Kong Place, Shanghai’s Hang Lung Mall, and Shenzhen’s Vientiane City……However, according to2009Investigation report released by Global Tax Refund Company,2009The total amount of duty-free goods purchased by Chinese tourists in France reached1.58billion euros, more than Russia, which ranks second0.47billion euros, the purchasing power of Chinese tourists in France has surpassed that of Russians, becoming France’s tourism consumption champion. There are obviously w88 online sports betting stores at their doorstep, so why do Chinese w88 online sports betting consumers choose to go far away and travel thousands of miles overseas to spend money in other countries?
As we all know, consumption drives the countryGDPOne of the troika of growth, General Secretary Hu Jintao recently pointed out at the opening ceremony of the Boao Forum for Asia that the future510714_1074950%’s high-end consumption is completed overseas, but the result of domestic demand in the w88 online sports betting market is an increase in foreign consumptionGDP? What is the reason that pushes so many local high-end consumers to overseas markets? Is it really because foreign w88 online sports betting are cheaper than domestic ones?
What is the difference between domestic and foreign w88 online sports betting market prices and how this price difference is formed? In order to explore this series of issues, our w88 online sports betting Research Center set up a special research group to conduct special market research on the dynamic monitoring and cause analysis of the current domestic and foreign w88 online sports betting price differences, in order to fully understand the actual situation of domestic and foreign w88 online sports betting market prices.
Research results with Chinese characteristics
Our price monitoring covers seven major categories (including jewelry, watches, bags, leather shoes, high-end wine, perfume, and cosmetics),65international luxury brands,115products. The monitoring scope includes mainland China, Hong Kong, Macau, France, Italy and other European regions, as well as the United States. The market scope involves the taxed sales market of w88 online sports betting and the duty-free market.
The research results are somewhat unexpected! First of all, the current price of w88 online sports betting in the Chinese market is not necessarily higher than the price in foreign markets. The price of some products in China is actually lower! In addition, the current sales categories of w88 online sports betting in the domestic market are very rich and can keep pace with international fashion trends!
Different categories have different price differences
The price difference between domestic and foreign high-end watches is very obvious, about100-350%Even in China, the price difference between the taxed market and the duty-free market for high-end watches is also80-150%between. There are three main reasons for such a large price difference. First, this is because watches are a commodity with low price elasticity but high income elasticity. That is to say, no matter how the price of watches changes, consumer demand for watches will basically remain unchanged. Once consumers' income decreases, the demand for watches will drop sharply. Second, the Chinese government has also implemented relatively strict supervision on the import of watches, and levies about 100,000 yuan on high-end watches.30%15322_15378
The market price of foreign luxury jewelry brands is not necessarily much higher than the domestic selling price. The price difference is20-80%between. Among them, the price difference between the Chinese duty-free market, taxed market and foreign markets for the best-selling jewelry launched by some jewelry brand companies that have charitable and special significance around the world is not particularly obvious and basically does not exceed30%. The prices of some other classic models and best-selling models in specialty stores in the Chinese market are basically higher than those in the domestic duty-free market and foreign markets30%, or even higher. However, we found that the price of some jewelry products in the Chinese market is lower than the price in foreign markets10About %.
The price gap between domestic and foreign markets for high-end wine is unstable. The best-selling premium Cognac and Cognac in ChinaX.OBrand, the domestic market price and domestic duty-free price of most products are higher than the official price30%Around, some products even have a difference of90About %; but mostX.O16681_1670510%, the domestic duty-free prices of some brands are even lower than foreign prices. This is mainly because the current sales model of China's foreign wine market is mainly based on the agency system. Competition to lower prices and artificial speculation make China's foreign wine market prices unstable and frequently fluctuating.
For w88 online sports betting such as luggage and leather goods that are most commonly purchased by Chinese consumers when traveling abroad, the price difference between domestic and foreign markets is not large.30%There are also some products whose domestic prices are lower than those in foreign markets18%About. Taking the market prices of internationally renowned leather shoe brands as an example, the price difference between domestic and foreign markets remains at20-30%, the domestic price of some brands is basically the same as the foreign price, or even lower; however, the price difference between domestic and foreign markets for some leather shoe brands is large, in95-115%between. This is mainly because the outbound tax rebate policy prevailing in the European market has benefited Chinese consumers more. The European countries such as Paris, Milan and Switzerlandoutlets's big-name luggage factory has a very obvious price advantage.
Fragrance products are also w88 online sports betting that Chinese consumers are willing to buy. Among them, the price gap between domestic and foreign markets for perfumes is not very obvious. The price difference between domestic and foreign markets for perfume products is35-60%, the price gap of individual products is almost zero; however, the price gap between domestic and foreign markets of cosmetics is obvious, in40-120%between, the highest reaches188.5%, there are also individual products with price differences as low as6%About.
By comparing the prices of similar products at the five major airport duty-free shops in mainland China and duty-free shops in surrounding areas, we found that the prices of perfume products in the duty-free markets in mainland China are extremely advantageous. The prices of similar products are the same as, or even lower than, the prices in the surrounding duty-free markets. Consumers can conveniently purchase high-quality and low-priced fragrance products in the domestic duty-free market,2011Year4The tax-free policy for offshore islands in Hainan was implemented in May, indicating that the Chinese government has increased its support for the tax-free market and promoted the healthy and orderly development of the domestic high-end retail industry through the window demonstration effect.
Cause of price difference
Why is there such a high price difference at home and abroad for the same w88 online sports betting? Generally speaking, there are three main reasons for the price difference between w88 online sports betting in domestic and foreign markets:
First, the imposition of import duties, value-added tax and consumption tax on w88 online sports betting has increased a lot of costs for luxury brands when entering China. These costs are naturally passed on to consumers, thus making the prices of domestic w88 online sports betting higher than those abroad. In addition, as the voice for raising the tax rate on w88 online sports betting becomes louder and louder, once the tax rate on w88 online sports betting is increased, the price of domestic w88 online sports betting will inevitably rise. However, many foreign countries, such as France, have implemented roughly12%To13%tax rebate, in this way, the price of the same brand purchased in France may be only purchased in China60%、70%About. Such a cheap price is indeed a great discount for many Chinese luxury consumer groups.
The second is the increased cost in the circulation process. For luxury brands entering China, in addition to import tariffs, value-added tax and consumption tax, another additional cost comes from the circulation link. The logistics and transportation of w88 online sports betting, display design and placement, and channel sales have all increased the market price of domestic w88 online sports betting to a certain extent.
The third is the difference in import methods, such as the existence of an agency system. In fact, many luxury brands often adopt agency systems when entering China in the early stages. This is mainly due to unfamiliarity with the Chinese market, unclear market prospects, and many market restrictions. It is a measure to transfer risks. However, as the market deepens, the disadvantages of the agency system gradually become apparent. For example, when an agent's sales channel is too strong, the agency fee will be increased, further increasing the price of w88 online sports betting. For this reason, many luxury brands have begun to gradually establish flagship stores in China to offset the shortcomings of the agency system.
With the continuous improvement and development of China's w88 online sports betting market, the market environment continues to relax, and201122723_22803
Attachment: Original link:http://www.fcvvip.com/magazine.do?articleId=644
In addition, "Hurun Report" also invited the executive deputy director of the w88 online sports betting Research CenterRen ZhoutingDr. and his team of scholars“Galaxy Owner Life Report”For special interpretation. This review is mainly divided into8个部分：（一） 投资方式：充满信心的第一步；（二）消费综述：学会享受懂得生活 ；（三）教育教育：万丈高楼平地起；（四）旅游：走出亚洲 冲向世界；（五）日用奢侈品消费：生活因为奢侈品而美丽；（六）娱乐：生活境界的完美呈现； （七）收藏：专业造就捷报频传；（八）慈善与责任：依法纳税义务慈善，此外2011Year1Executive Deputy Director of the Monthly CenterRen ZhoutingThe doctor was also invited to comment on Hurun Report2011The best product―China's Multimillionaire Brand Trend Report" list, and wrote a cover story titled "Game of Marriage Defense", conducting in-depth discussion and analysis on the cooperation and conflicts between international luxury brands and Chinese agents.
