China: Luxury goods sales rise but European brands are missing out

  • Chinese consumers have actually bought more luxury goods during the pandemic, despite global luxury sales falling around 30%.
  • But with travel restrictions in place, Chinese shoppers are buying these products closer to home, and sales are going “through the roof,” according to a McKinsey report.
  • Luxury stores in Europe have reported declining sales – but their Chinese outlets and e-commerce have boomed. Prada’s sales in China jumped 54% in June compared to last year.
  • Chinese consumers are the world’s biggest luxury goods buyers, and most of their luxury goods purchases are made overseas – so future travel restrictions may determine the success of Europe’s luxury goods market, which relies on Chinese tourists.
  • Visit Business Insider’s homepage for more stories.

The pandemic hasn’t slowed consumer spending on luxury goods — at least not in China.  

Three in 10 Chinese consumers spent more than usual on high-end retail between January and July, a poll by UBS Evidence Lab found. This is despite global luxury sales in the first half of 2020 being down around 30%, according to Daniel Zipser, senior partner at McKinsey & Company.

Prada, Dior, and Gucci all reported rising sales in China in 2020, while revenues in other markets often stagnated or even dropped.

Chinese consumers are spending a bigger proportion of their money on luxury retail as spending on tourism dropped during lockdown, UBS reported.

But with international travel restrictions still in place, Chinese shoppers are buying these products closer to home. This means the domestic market in Mainland China is “probably growing stronger than ever before,” Zipser said, adding that sales are going “through the roof.”

Meanwhile, luxury goods shops in Europe are losing out — and analysts say the future of the market on that continent could be shaped by house Chinese buyers act in the coming months and years.

Prior to the pandemic, Chinese consumers made around three-quarters of their luxury goods purchases abroad, Bain & Company reported. The UBS survey found that, because of the travel restrictions, more than three in four Chinese consumers plan to buy luxury goods within Mainland China over the next year — a significant increase from 62% at the same time last year.

During China’s Golden Week from October 1 to 8, when citizens take holiday from work to visit relatives or travel round the country, retail sales rocketed. Duty-free sales on its island province Hainan more than doubled during the week from last year’s holiday, and across the country sales were up nearly 5% as shoppers splashed out on luxury products.

The Chinese government had been pushing this Chinese luxury spend repatriation for a long time by changing duty-free regulations, cutting important tariffs in 2018, and moving GDP towards consumption, Luca Solca, senior research analyst at Bernstein, told Business Insider.

Even before the pandemic happened, Chinese domestic retail spending was expected to grow. Bain & Company estimated that Chinese consumers would make around half of their luxury purchases in the country by 2025.

The pandemic is accelerating this

Makeup Addicts, Are You Missing This Essential Step in Your Beauty Routine?

If you’re like me you’re a regular in the makeup aisle. Perusing the shelves, sampling the latest in lipstick formulas, eyeliners, and foundations in search of a flawless finish. Some of us fell in love with makeup while making a mess at our mother’s vanities and ladies, some of us never grew out of it.

Don’t worry, you’re not alone!

But being the makeup junkies we are the process of taking it off is just as important if not more than the process of putting it on. An impeccable beat starts with a perfect base which can only be the result of skin that has been properly prepped by removing dirt, oils, and residue every day.

That is why a great makeup remover is KEY!

As someone who loves a full face of glam, I learned the hard way that all makeup removers are not created equal. I used makeup remover wipes every night before cleansing and would ignore the smear of foundation that would be on my towel after drying off, not thinking that if there was makeup there then there was still makeup left over on my face as well, seeping into my pores and leaving room for bacteria to grow.

Luckily there are tons of methods for makeup removal aside from remover wipes including cleansing balms, oils, gels, dissolving sprays even makeup removal sticks.

So after a stint of breakouts, I decided to upgrade my approach and went with a recommendation from a trusty Ulta employee. Sister to the cult-classic Lancôme’s Bi-Facil Double-Action Eye Makeup Remover, the Lancôme Bi-Facil Face Bi-Phased Micellar Water Face Makeup Remover & Cleanser has totally changed my skincare and makeup game.

I know, it’s a mouthful, but this baby is seriously powerful! The oil dissolves any makeup on the skin, then the micellar water cleanses and removes excess residue before you even rinse with your cleanser, which means no more leftover makeup on your towels.

Hallelujah!

Don’t get me wrong, I still keep makeup remover wipes by my bedside or in my purse for those nights I’m too tired to do my whole routine. My favorites are the Sephora Collection Green Tea Cleansing & Exfoliating Wipes for the skin, which are soothing, meant to be mattifying and great for acne-prone skin. I also love the Too Faced Mascara Melt Off Cleansing Oil for eye makeup, which works for regular or waterproof mascara!

In the end, it doesn’t matter which method you choose, find the best products that fit in with your lifestyle, just make sure you have one that removes all leftover residue, trust me, it’s game changing!

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Alpha Male – the Gift of Missing You Explained!

The power of this technique called “Gift of Missing You” is tremendous. Not much practice is needed to master this skill but this technique is able to amplify her attraction for your ENORMOUSLY. However, much discipline is needed to display this skill. So, if you are ready, let’s get the party started…

The gift of missing you basically means playing hard to get. Playing hard to get seems like a tool used by attractive women on men. When women play hard to get, the man would instantly become more vulnerable to a women’s bidding. The man would call her thousand times a day and saying unnecessary mushy things and buying her tons and tons of gifts. Eventually, the woman feels no attraction at all and rejected the man. I have been through this stage and I believe many of you been through this too.

I understand your agony and anger and now its PAY BACK time! It’s your TURN to play hard to get and get her to be obsessed with YOU! First of all, before you even embark on playing hard to get, you need to first get a life. If you think that you are leading a boring life, do something about it. Find yourself some activities and keep yourself real busy and occupied. At the same time, leave some time for your dates. When you have a life and really enjoyed it, women can instantly tell and wants your attention.

Getting yourself busy and occupied also enhances your conversation skill indirectly. The more activities you got yourself into, the more exciting life stories you accumulate. Telling your exciting life stories to women is one of the best ways to attract women.

Once you get your personal life handled, here’s how you play hard to get.

o Don’t see or meet her more than twice a week.

o Don’t call her more than twice or thrice a week.

o Keep your conversation with her short when you are on a phone.

o Always end the conversation on a high note first.

o Always end the date also on a high note first.

o When she wants to see you, tell her you are busy and see her at a later time on the same day.

o Pretend like you have 100 women calling you everyday.

o Fill your week with different dates instead of just focusing on 1 woman.

The bottom line of the concept behind the gift of missing you is to make yourself as scarce as possible. Scarcity is what makes people feel obsessed. The power of obsession is very powerful, use it wisely and you are on your way to get your dating life handled. Use it the evil way; get ready to meet PSYCHO people. I am just kidding.

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