Group 1 - South Korean consumers have the highest per capita luxury goods spending globally at approximately $325, with many young individuals resorting to loans for purchases [1][3] - A report from the Korea Financial Institute indicates that 18% of the debt among individuals aged 20 to 39 is spent on luxury goods, and about 17% of young workers in Seoul actively take loans to buy luxury items [3] - The cultural context in South Korea drives luxury consumption, where luxury items are seen as status symbols in job markets and social circles, exacerbated by high living costs and limited job opportunities [3] Group 2 - In contrast, the Chinese luxury market is experiencing a shift towards rational consumption, with a projected sales decline of 18%-20% in 2024, prompting major brands like LVMH and Kering to adjust their strategies [5] - The shift in consumer behavior in China reflects a transition from "symbolic consumption" to "value consumption," with discount channels becoming the preferred choice for entry-level luxury goods [5][7] - Young Chinese consumers are increasingly prioritizing value over brand logos, leading to a more mature approach to luxury spending, as evidenced by the popularity of discount platforms offering significant savings on luxury items [6][7]
买奢侈品这件事:韩国青年vs中国青年,差距在哪?
Sou Hu Cai Jing·2025-08-14 00:16