奢侈品市场在经历结构性调整的阵痛后，正显现出迈向新平衡的明确迹象。 根据贝恩公司与意大利奢侈品行业协会Fondazione Altagamma联合发布的《2025年全球奢侈品市场研究 报告》，尽管增速放缓，全球奢侈品市场总销售额仍稳定在约1.44万亿欧元的庞大规模。该报告还预 测，到2035年，这一市场将增长至2.2万亿至2.7万亿欧元，其长期增长轨迹依然清晰。 从头部奢侈品集团财报数据也可以看出，2025年第三季度以来，行业显露出触底回升的态势，而大中华 区则被普遍视为本轮复苏的核心引擎，推动LVMH、Burberry等品牌业绩改善。 值得注意的是，奢侈品市场在经历周期性波动的同时，其内在结构与消费逻辑正在发生变革。消费者， 尤其是年轻一代，其需求正呈现个性化、多元化、品质化、高性价比的趋势，市场的焦点正在转向如何 在新常态下满足消费者对价值、体验与信任的综合诉求。 奢侈品市场回温 对美好生活的追求，这一人类消费行为的基本驱动力从未改变。在奢侈品市场，经历过疫情后的消费疲 软后，今年也逐步展现出复苏迹象。 2025年第三季度，奢侈品行业触底回升，几乎所有主要奢侈品集团都将大中华区视为2025年业绩回暖的 核 ...

奢侈品市场在经历结构性调整的阵痛后，正显现出迈向新平衡的明确迹象。 根据贝恩公司与意大利奢侈品行业协会Fondazione Altagamma联合发布的《2025年全球奢侈品市场研究 报告》，尽管增速放缓，全球奢侈品市场总销售额仍稳定在约1.44万亿欧元的庞大规模。该报告还预 测，到2035年，这一市场将增长至2.2万亿至2.7万亿欧元，其长期增长轨迹依然清晰。 从头部奢侈品集团财报数据也可以看出，2025年第三季度以来，行业显露出触底回升的态势，而大中华 区则被普遍视为本轮复苏的核心引擎，推动LVMH、Burberry等品牌业绩改善。 值得注意的是，奢侈品市场在经历周期性波动的同时，其内在结构与消费逻辑正在发生变革。消费者， 尤其是年轻一代，其需求正呈现个性化、多元化、品质化、高性价比的趋势，市场的焦点正在转向如何 在新常态下满足消费者对价值、体验与信任的综合诉求。 奢侈品市场回温 对美好生活的追求，这一人类消费行为的基本驱动力从未改变。在奢侈品市场，经历过疫情后的消费疲 软后，今年也逐步展现出复苏迹象。 2025年第三季度，奢侈品行业触底回升，几乎所有主要奢侈品集团都将大中华区视为2025年业绩回暖的 核 ...

Core Insights - The luxury goods consumption landscape is shifting towards a focus on quality and value, driven by changing consumer preferences and government initiatives to promote quality e-commerce [3][4][5] Group 1: Market Trends - The luxury goods market is experiencing a significant transformation, with a shift in consumption focus from the West to China, which is projected to capture 25% of the global luxury market by 2030 [4] - Discount channels are becoming increasingly popular, with sales in discount luxury goods rising by 30% year-on-year in the first nine months of the year [7][8] - Consumers are prioritizing high cost-performance luxury goods, indicating a move away from the traditional mindset of "brand supremacy" to a more rational evaluation of price, service, quality, and practicality [5][8] Group 2: Quality Assurance Initiatives - The partnership between China Inspection and Testing Institute (CITI) and the discount e-commerce platform Vipshop aims to enhance the quality assurance of luxury goods through independent and comprehensive authentication [3][8] - CITI's involvement includes a rigorous inspection process where each luxury item is evaluated by three independent appraisers, ensuring a high level of trust and credibility in the quality of products sold on e-commerce platforms [8] - The trend towards "good and affordable" luxury goods is expected to become mainstream, as consumers increasingly seek both quality and value in their purchases [8]