奢侈品市场复苏，消费价值观重塑

Group 1 - The luxury goods market is showing signs of moving towards a new balance after experiencing structural adjustments, with total sales remaining stable at approximately €1.44 trillion, and projected growth to €2.2 trillion to €2.7 trillion by 2035 [1][2] - The Greater China region is viewed as the core engine driving the recovery of luxury brands like LVMH and Burberry, with significant improvements in their performance since Q3 2025 [2][3] - Consumer demand is shifting towards personalized, diversified, high-quality, and cost-effective products, indicating a change in purchasing logic among younger generations [1][3] Group 2 - The luxury goods market is gradually recovering from post-pandemic consumption fatigue, with major luxury groups reporting positive trends in the Greater China market, leading to reduced revenue declines or positive growth [2][3] - Nearly half of luxury consumers believe that brand prices are inflated and are unwilling to pay for frequently increasing prices, indicating a shift towards value and experience over brand logos [3][4] - Discount channels are experiencing significant sales growth, with platforms like Vipshop reporting a 30% year-on-year increase in luxury goods sales from January to September [3][4] Group 3 - Trust issues regarding discounted luxury goods are prevalent, as consumers question the reliability of purchasing from discount channels [4][5] - The establishment of a third-party inspection agency, such as China Inspection, is crucial for building consumer trust in discounted luxury products, as it provides authoritative verification [5][6] - The luxury market is entering a more complex and healthier phase, balancing brand aspiration with the need for a trust system and pricing pathways to meet increasingly discerning consumer demands [5][6]