爱马仕开始寄“催款函”了

Core Viewpoint - The luxury brand industry, particularly high-end brands like Hermès, is facing challenges despite traditional price increases, with a notable shift in consumer behavior and market dynamics in China [3][9][32]. Price Increase and Sales Performance - Hermès implemented a price increase of up to 10% on various products, with the most sought-after "Birkin bag" seeing a price rise of 10,000 yuan and the "Kelly bag" increasing by 5,000 to 10,000 yuan [5][7]. - The sales performance in the Greater China region showed a recovery, with a slight increase in customer traffic and higher sales of luxury items like jewelry and watches [7][30]. - Despite the price hikes, Hermès has seen a decrease in the difficulty of acquiring bags, with the allocation ratio improving from 1:2 or 1:3 to 1:1 for some styles [23][24]. Market Dynamics and Consumer Behavior - The luxury goods market in China is undergoing a transformation, with a reported reduction of approximately 50 million consumers in the luxury segment over the past two years [22][30]. - The marketing strategies of luxury brands, such as sending promotional materials to past customers, have been perceived as pressure tactics to encourage spending, leading to mixed reactions from consumers [11][18]. - The rise of domestic luxury brands and a shift in consumer spending towards local brands have been noted, with significant growth in the sales of entry-level luxury products [30][31][32]. Financial Performance of Competitors - Other luxury brands like Chanel and Van Cleef & Arpels are also experiencing challenges, with Chanel reporting a 5.3% decline in sales for 2024, despite previous growth [28]. - The financial results for Hermès indicate a strong reliance on leather goods, which accounted for 44.35% of total revenue in the first three quarters of 2025, while other product lines showed slower growth or declines [24][27]. Future Outlook - The luxury market is expected to continue its weak recovery into 2026, with brands needing to adapt to changing consumer preferences and economic conditions [33].