中产消费观变了，奢侈品牌向普通客户发邀约

Core Insights - The luxury brands are facing significant sales pressure, with major groups like LVMH and Kering reporting double-digit declines in performance during the first half of the year, indicating a shift from the previous era of effortless sales to a more challenging market environment [3][16]. Group 1: Changes in Consumer Behavior - Middle-class consumers, like Jennie, are experiencing a decrease in purchasing frequency, with average annual purchases dropping to two times, influenced by their income expectations and confidence [5][9]. - The allure of overseas shopping has returned, with consumers opting for purchases in countries with lower exchange rates and taxes, impacting domestic luxury sales [5][9]. - Despite reduced spending, luxury brands are increasing their event invitations to attract customers, indicating a shift in marketing strategies [7][9]. Group 2: Brand and Retail Strategies - Luxury brands are closing underperforming stores while focusing on opening larger flagship stores in prime urban areas to enhance customer experience [3][19]. - The number of new luxury store openings in China has decreased by 38% year-on-year, particularly in non-first-tier cities, as brands consolidate their presence in more lucrative markets [19][22]. - Brands are increasingly demanding more support from property owners, such as promotional subsidies and enhanced customer experiences, to drive sales [11][12]. Group 3: Market Adjustments and Future Outlook - The luxury market is expected to stabilize, with projections indicating that the global personal luxury goods market will remain flat compared to the previous year, reflecting a maturation phase post-pandemic [5][28]. - Despite the challenges, there are signs of recovery in the luxury sector, with some brands reporting growth in the third quarter, particularly in the Greater China region [27][28]. - Developers are shifting their focus from high-end brands to more practical cash flow considerations, indicating a change in the retail landscape [23][26].