奢侈品消费理性回归，“双十一”展现三大新趋势

Core Insights - Luxury goods consumption in China is showing a rebound during this year's "Double Eleven" despite a challenging overall consumption environment, indicating a shift towards rational and diversified consumer behavior [1][2] - The demand for luxury goods has become distinctly segmented into three main consumer groups: the "tasting tribe" seeking new products, the "experiential faction" valuing personalized aesthetics, and the "rational faction" focused on high cost-performance [1][2] Group 1: Market Trends - Major e-commerce platforms report significant growth in luxury goods sales, with Tmall's luxury brand transactions achieving double-digit year-on-year growth during "Double Eleven" [1] - Bain & Company forecasts a general decline in luxury brand performance by mid-2025, yet highlights the resilience of Chinese consumer demand for luxury products [1] Group 2: Consumer Behavior - Modern consumers are increasingly willing to pay for experiences that provide emotional value, leading to a preference for discount channels over full-price stores for entry-level luxury goods [2] - The interaction between brands and younger consumers, particularly Millennials and Generation Z, has fundamentally changed, with a focus on style and emotional resonance rather than brand logos [2] Group 3: Product Categories - There has been rapid growth in categories such as ice sports and high-end home goods during "Double Eleven," with designer lighting, premium tableware, and home fragrances leading the charge [2] - The luxury goods market is evolving from a status symbol to emphasize practicality, cost-effectiveness, and emotional value [2]