三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Big-name luxury brands lower prices as tariffs drop

By Ren Xiaojin | China Daily | Updated: 2018-07-20 11:00
Share
Share - WeChat
Handbags are on display at a Louis Vuitton boutique in Wuhan, Central China's Hubei province, June 6, 2018. [Photo/IC]

Sellers in China selling big-name luxury brands have cut their sales prices in response to reduced import tariffs, although the benefit for consumers has remained limited so far, according to experts.

Since the country implemented the tariff cut on 1,449 imported goods on July 1, many luxury brands have adjusted their prices accordingly. After Louis Vuitton became the first brand to alter its prices, many others followed suit, including Gucci, Hermes and Cartier.

According to the Customs Tariff Commission of the State Council, the average tariff on imported clothing was lowered from 15.9 percent to 7.1 percent. However, as tariffs only make up a small part of products' overall cost, the price cut remains relatively small, ranging between 3 to 5 percent.

Zhou Ting, head of Yaok Research Institute, which observes and studies the luxury industry, said the adjusted tariffs will not have a significant effect on prices. "Tariffs have a relatively small impact on the final retail price, so luxury brands will only lower their prices a little bit according to the tariff," she said.

For example, the price of a Louis Vuitton Neverfull handbag has dropped to 9,900 yuan ($1,468) from 10,400 yuan previously, down by 4 percent.

"Do I look like I'm short of the 500 yuan? I'm short of the remaining 9,900 yuan," joked Chen Xinyi, a 27-year-old office worker. She said the price cut was too small and would not have any obvious effect on her decision on whether to buy a luxury handbag or not.

However, the price cut is likely to shake the daigou community, who buy products abroad and sell them to domestic buyers, including products ranging from handbags to milk powder and medicines, Zhou said.

With prices in China edging closer to those in other countries, the daigou industry will struggle to survive, said Zeng Mingyue, researcher at the luxury products research center at the University of International Business and Economics in Beijing.

"The Chinese purchasing power for luxury products has been noticed around the world, so brands need to think how to better approach potential Chinese consumers and make it easier for them to shop, with measures including price adjustments," Zeng said.

Although the price cut might not have a significant impact on consumers in the Chinese mainland, it could threaten the luxury retail business in Hong Kong, which mainlanders often regard as a duty-free shopping paradise.

According to a report by the South China Morning Post, visitors from the Chinese mainland made up one-third of total travelers to Hong Kong, playing a large role in helping the local retail industry.

Hong Xueyu, an analyst from Guotai Junan Securities Co Ltd, said although prices have only dropped a little, with other brands following suit Hong Kong will become less attractive for mainland consumers, especially with the yuan dropping.

Office worker Chen said: "I don't usually buy from Hong Kong anyway, there are too many fake daigou claiming to buy from Hong Kong but selling fake products manufactured in Guangzhou. It is really hard to tell and the prices they ask are not worth the risk."

According to global consulting firm Bain & Co, luxury products' growth rate in the Chinese mainland is outpacing other regions around the world, with average growth reaching 20 percent year-on-year. The figure is likely to remain at 10 percent in 2018, according to Bain & Co.

First quarter financial reports from major luxury brands LVMH group and Kering SA both stated that China has become their main driver of revenue.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 精品国产福利在线观看网址2022 | 国外成人免费视频 | 国产高清在线精品二区一 | 国产在线观看91精品亚瑟 | 一本久道久久综合多人 | 久久经典免费视频 | 欧美一级做a爰片免费 | 色视频在线免费观看 | 久久er热在这里只有精品66 | 国产精品久久久久国产精品 | 青青在线香蕉精品视频免费看 | 麻豆免费入口 | 中文字幕一区二区三区免费看 | 国产精品偷伦视频免费观看的 | 欧美日韩在线成人 | 成人a免费视频播放 | 日本好好热视频 | caoporen免费公开视频上传 | 国产亚洲精品一区在线播 | 外国黄色一级 | 日韩日韩日韩日韩日韩 | 日韩中文在线视频 | 中文字幕亚洲综合久久 | 九月丁香婷婷 | 二级黄色大片 | 伊人看片| 国产成人综合欧美精品久久 | 国产一级高清视频 | 国产大片中文字幕在线观看 | 亚洲欧美日韩另类 | 日韩免费视频观看 | 亚洲国产精品毛片∧v卡在线 | 亚洲丶国产丶欧美一区二区三区 | 国产欧美亚洲精品第一页青草 | 日本一级毛片免费看 | 久久精品国产清自在天天线 | 精品国产第一国产综合精品 | 欧美特黄三级成人 | 久久观看午夜精品 | 国产精品黄页在线播放免费 | 一级毛片儿 |