中国人这么能买奢侈品，2020年会继续吗？

 关注奢侈品行业的人士想必还记得，今年年初时，曾因对中国市场信心动摇而引起一轮波动。 <p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>今年1月3日，苹果公司15年来首次下调营收指引，导致股价断崖式暴跌近10%，苹果把问题主要归咎为中国市场iPhone销售的下滑。分析认为，苹果想让iPhone成为奢侈品，但高定价已经成为灾难，也逐渐暴露出中国年轻消费者的购买力被高估了。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>市场对苹果的理性回归也波及到奢侈品产业。分析师Benjamin Cavender当时指出，今年有可能成为西方品牌艰难的一年，中国消费者在收紧开支时，可能不太愿意花钱购买最新的智能手机或奢侈品手袋。受市场情绪影响，包括LVMH、开云集团在内的奢侈品巨头市值短短一日共蒸发至少100亿美元。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>然而一年即将过去，人们发现，投资者担心的中国市场放缓似乎并没有发生，中国消费者对奢侈品的追逐依然狂热。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>根据贝恩公司与意大利奢侈品行业协会Fondazione Altagamma近日联合发布《2019年全球奢侈品行业研究报告seline; background: transparent; box-sizing: border-box; color: rgb(153, 153, 153);”>（秋季版）》显示，2019年中国奢侈品市场整体销售额增长26%。中国籍消费者对全球个人奢侈品市场持续性增长的贡献率达到90%。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>作为全球奢侈品行业的主要增长引擎，中国内地奢侈品市场在2019年延续了过去几年的强势表现，市场整体销售额按恒定汇率增长了26%，达300亿欧元。从增长贡献来看，中国籍消费者对全球个人奢侈品市场持续性增长的贡献率达到90%，占据全球个人奢侈品消费总额的35%。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>看起来中国消费者的购买力只增不减，新一代年轻消费者尤甚。BBC节目《千禧一代》日前则总结出了中国4亿千禧一代的五大特征，分别为爱网购、更“自我”、爱买奢侈品和限量版、爱全球旅游以及积极面对生活。该报道强调，虽然中国只占全球GDP的14%，但中国消费者的网购消费在全球中的占比高达40%，而千禧一代更会为了只在店内发售的奢侈品牌限量版产品大排长龙。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p class="img-center-box" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; text-align: center; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>

<p label="图片备注" class="text-img-note" style="margin: 8px 0px 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(153, 153, 153); font-size: 16px; line-height: 20px; text-align: center; font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; letter-spacing: 0.7px; text-indent: 0px;”>中国4亿千禧一代消费者的奢侈品购买力与日俱增

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>就在几天前，位于英国伦敦骑士桥的奢侈品百货Harrods对外宣布，随着中国年轻消费者购买力的崛起，中国本土奢侈品市场发展潜力巨大，因此将于2020年在中国上海浦东开设首家海外永久旗舰店，专门为中国的富裕消费者特别是千禧一代提供最优质的环境和服务。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>Harrods百货负责人Michael Ward强调，未来五年的增长将来自包括中国在内的亚洲市场和千禧一代，所以Harrods百货进军中国内地是关键一步，“跟着钱走很重要，而中国无疑是当前最具奢侈品消费力的潜力市场。”  

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>对于奢侈品行业而言，在中国消费者的支撑下，2019年绝不能算是令人失望的一年。贝恩报告显示，2019年全球奢侈品市场整体销售额增长4%，达1.3万亿欧元。其中核心的个人奢侈品市场销售额也增长4%，达2810亿欧元。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>现在的问题是，如果说分析师对2019年中国消费者对奢侈品需求放缓的预测失准，那么2020年是否会印证他们的预言。或者反过来说，中国消费者这么能购买奢侈品，2020年是否还会继续。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>彭博社分析认为，中国富裕消费者的需求减速确实可能在2020年发生，这与宏观经济与社会形势的走向有关。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>今年以来，来自香港市场的巨大打击显然是所有奢侈品公司所没有预料到的，目前还没有结束的迹象。据香港公布的最新数据，今年10月零售额同比大跌24.3%至301亿港元，已连续9个月出现下跌并创史上最大跌幅，入境游客人数则同比大跌43.7%至331万。期内珠宝、钟表和贵重礼物的销售额跌幅达42.9％，百货商店的销售额减少31.1％，主要受零售环境持续恶化影响。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>彭博社援引Morningstar分析师Jelena Sokolova表示，香港市场对Swatch集团等瑞士高级钟表企业的打击是巨大的。据瑞士钟表协会12月19日发布的最新数据，2019年1至11月瑞士手表的出口量同比减少13％，降至约1890万支，从年度数值来看，这或是1984年以来的最低水平，下滑的主要原因是对最大市场香港的出口大幅减少。受旅游零售业务持续低迷影响，今年11月瑞士手表对香港出口额同比大跌27％至2.11亿瑞士法郎，已连续8个月下滑。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>不只是香港市场，法国黄背心运动虽然结束，但现在又受到了长期罢工的影响。拉丁美洲和中东部分地区也出现了社会动荡。实际上，自2018年下半年以来，分析师们就频频放出信号暗示全球时尚行业或受地缘政治与经济形势影响有下行的风险。  

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>据美国财经媒体CNBC最新百万富翁调查显示，美国富人也对即将进入2020年的经济和股市表现出越来越大的焦虑，但总体情绪仍然持乐观。调查显示，大多数百万富翁不认为明年会有什么重大事情发生，或者美国经济会跌落悬崖，39%的受访者表示预计明年美国经济将会走弱，38%的百万富翁预计明年经济将“保持强劲”，27%的人认为会“更强”。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>2019年，美国实体零售一泻千里。据《Business Insider》杂志最新数据，2019年美国关店总数达9300家，打破了2017年约8000家商店关闭的纪录，其中不乏维多利亚的秘密、GAP、Forever 21等国际品牌，甚至连梅西百货、西尔斯百货等传统百货巨头也难逃一劫，Barneys New York更是宣布破产。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>在不确定性陡升的当下，奢侈品牌选择把鸡蛋放在不同篮子中，分散风险。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>10月30日，LVMH旗下核心品牌Louis Vuitton在韩国首尔开幕了全新旗舰店Louis Vuitton Maison Seoul，此举被视为押注香港游客流向韩国的策略。不同于主要依赖本土消费者的中国市场，韩国不仅拥有坚实的本地消费者，也承接着大量亚洲游客，特别是中国的游客。

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p class="img-center-box" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; text-align: center; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>

<p label="图片备注" class="text-img-note" style="margin: 8px 0px 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(153, 153, 153); font-size: 16px; line-height: 20px; text-align: center; font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; letter-spacing: 0.7px; text-indent: 0px;”>图为Louis Vuitton Maison Seoul首尔旗舰店

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>据韩国媒体报道，2019年赴韩中国游客创新高。截至第三季度，今年赴韩中国游客总数约为440万人，同比增长27%，且越来越多的中国人选择自由行。  

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>以欧洲为大本营的LVMH正有意将重心转移至中国内地与美国两个主要市场。今年10月，Louis Vuitton在美国开设新工厂，将增设1000个工作岗位，美国总统特朗普特别到场与LVMH集团董事长兼首席执行官Bernard Arnault共同剪彩。除此之外，LVMH还发起了对美国高级珠宝品牌Tiffany&Co.的世纪收购。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>不过，Bloomberg Intelligence分析师Deborah Aitken表示，至少就目前而言，消费支出超过预期的中国市场和因货币疲软而受到欢迎的欧洲市场，依然会是2020年最受欢迎的购物地区。她还认为，在中国市场大举投入的LVMH、开云集团等公司将在同行业具有领先优势。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>Tiffany&Co.日前也表示，随着中国消费者的奢侈品消费加速回流，2020年其在中国市场的销售额将继续实现双位数增长。上周，Tiffany位于上海香港广场的亚洲最大旗舰店正式揭幕，Tiffany首席执行官Alessandro Bogliolo强调，中国降低营业税等举措刺激了国内消费，并透露将于下月在成都开设一家新店。在截至10月31日的三个月内，Tiffany销售额录得10亿美元，排除香港市场的全球销售额录得4%的增幅，主要得益于中国内地销售额双位数的增长。

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>奢侈品市场的特点是瞬息万变，且与全球经济形势紧密相关，任何经济问题和地缘政治不稳定的情况，都是悬在头上的达摩克利斯之剑。但同时，这也带来了大量机遇，使得未来奢侈品行业成为战略眼光的比拼。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>苹果公司甚至也没有预测到，尽管iPhone遇冷，定价并不便宜的耳机配件AirPods却在2019年意外为公司带来活力，今年销售近60亿美元，热销至2020年，苹果明年可能会售出8500万台AirPods，销量同比增长110%。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>有读者在文章评论中指出，在整体经济形势不乐观的大环境下，高端消费只增不减，这个现象非常少见，不确定是收入增大的原因，还是消费人群对环境的滞后判断导致。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>需要强调的是，自上世纪90年代奢侈品牌进入中国市场后，经过近30年的发展，奢侈品在中国市场终于完成了初步的文化培育，社会氛围为奢侈品消费提供了重要基底。资管公司CQS New City Equity的基金经理Raphael Pitoun称“奢侈品在中国就像是一种必需品”。而奢侈品消费意识正在从一二线主要城市向下沉市场扩散渗透，意味着奢侈品还有大量的增长空间。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p class="img-center-box" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; text-align: center; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>

<p label="图片备注" class="text-img-note" style="margin: 8px 0px 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(153, 153, 153); font-size: 16px; line-height: 20px; text-align: center; font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; letter-spacing: 0.7px; text-indent: 0px;”>报告显示，今年中国籍消费者对全球个人奢侈品市场持续性增长的贡献率达到90%。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>近期，Gucci母公司开云集团就宣布旗下5个奢侈品牌将在中国上海、大连、昆明、武汉、沈阳和无锡6座城市新开设14家门店，除了上海均为新一线或二线城市，开店计划将由香港恒隆地产协助进行。目前开云集团已在中国开设了约50家门店，亚太地区收入在其2019财年第三季度38.8亿欧元总营收中占比高达37%。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>很显然，尽管中国市场已经为奢侈品行业贡献了5年的红利，但是中国奢侈品市场依然有巨大潜力待发掘。当拼多多等电商平台凭借下沉市场消费力进入主流竞争赛道的同时，奢侈品集团如开云集团也开始深入了解中国特殊的市场形态，瞄准一线城市之外市场的中间阶层购买力。  

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>目前全国有23个省市的高净值人数已经超过2万人，其中山东高净值人数首次突破10万人，迈入广东、上海、北京、江苏、浙江五省市所在的第一梯队；另有5省的高净值人群数量超过5万人，分别为四川、湖北、福建、辽宁和天津，这代表中国奢侈品市场的潜力在逐步向二、三线城市下沉。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>今年早些时候，恒隆集团董事长陈启宗也在一封致股东公开信中表示，在中国消费者购买的所有高端时尚产品中，仅有略超过25%是在国内交易，这个数字在未来六年有望增长至约50%，同期的总销售量则会翻倍，这几乎是四倍的增长。他还援引欧洲某高端时装品牌高管消息，实际增长或将高于预期。    

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>陈启宗在信中特别强调，中国内地作为集团的主要市场，虽然在一定程度上受到全球地缘经济震荡的打击，但影响并非负面。为刺激国内消费增长，中国内地近两年开始下调部分奢侈品的关税，令中国的高端消费者逐渐回流，“我们的收入增长和各奢侈品牌近期的业绩表现均可印证这一点”。  

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>这样看来，虽然市场对于Gucci新鲜感衰退的评论随处可见，但是它的“肥尾”效应或许才刚刚开始。经典产品生命周期图的正态分布被认为是一种细尾，但是在概率论中，还有一种概率分布模型叫做肥尾或厚尾seline; background: transparent; box-sizing: border-box; color: rgb(153, 153, 153);”>（fat tail）。它意味着，产品生命的后半程能够持续较长的时间。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>在进入产品生命周期的衰退阶段之前，Gucci选择继续扩张下沉市场能够帮助品牌打好扎实的业绩基础，尽可能地延长品牌生命周期。而集团旗下其他第二梯队品牌如Balenciaga、Saint Laurent、Bottega Veneta等，在当前市场的讨论度同样很高且在上升期，在二线市场拥有巨大的需求。扩张二线市场，能够快速“养大”这些10亿欧元级别的第二梯队品牌，从而接棒Gucci的增长任务。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>在分析中国奢侈品消费市场时，这种肥尾思维同样值得借鉴。增长放缓，或者增速回归常态化的趋势是确定的，但是什么时候开始出现明显的放缓，是一件很难确定的事。奢侈品牌一方面要随时预防风险，另一方面则应该充分利用肥尾实现利益最大化，为即将而至的“冬眠”囤粮，同时应在资金资源充足的时期尽快完成战略布局，随后向精细化经营调整。 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”> 

<p style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; box-sizing: border-box; word-wrap: break-word; color: rgb(39, 40, 45); font-family: “PingFang SC”, “Hiragino Sans GB”, “Microsoft YaHei”, Arial, sans-serif; font-size: 16px; letter-spacing: 0.7px; text-indent: 0px;”>寒冬将至，但中国消费者的后劲依然不可小觑。