Core Viewpoint - The luxury goods market in China is undergoing a significant transformation with the introduction of comprehensive authentication processes by China Inspection and Certification Group (CCIC) in collaboration with Vipshop, marking a shift from post-purchase verification to pre-purchase authentication [2][12]. Group 1: Changes in Luxury Goods E-commerce - CCIC's entry into Vipshop's luxury goods warehouse signifies a new era where all high-end products will undergo thorough inspections before reaching consumers, ensuring authenticity [2][12]. - Previously, consumers relied on post-purchase verification methods, which often left them uncertain about the authenticity of their purchases [2][12]. - The new system will implement a three-step cross-verification process for all incoming luxury goods, fundamentally altering the purchasing experience for consumers [2][12]. Group 2: Trust and Credibility in Luxury Goods - The rise of counterfeit luxury goods has led to a crisis of confidence among consumers, with reports indicating that the visibility of counterfeit products in the Chinese market is six times that of genuine products [4]. - CCIC has emerged as a trusted authority in luxury goods authentication, positioning itself as a critical player in restoring consumer trust [5][12]. - The collaboration with Vipshop aims to enhance consumer confidence by providing a reliable authentication report for every luxury item sold [12][28]. Group 3: The Role of CCIC - CCIC is recognized as the only state-owned enterprise in the inspection, testing, and certification sector, serving as the "national team" in this field [9][10]. - The organization is seen as a gatekeeper for quality management, influencing the fair market value of luxury goods through its authentication reports [12][25]. - The rigorous training and certification process for CCIC's appraisers ensures a high level of expertise, with a pass rate of less than 10% for certification exams [11][29]. Group 4: Consumer Behavior and Market Dynamics - Consumers often question the authenticity of luxury goods when prices are significantly lower than expected, leading to skepticism about the reliability of e-commerce platforms [19][21]. - The perception of luxury goods being tied to high prices complicates consumer trust, as many are reluctant to believe that genuine products can be sold at steep discounts [19][21]. - The collaboration between CCIC and Vipshop aims to address these concerns by providing a credible third-party verification system, thereby enhancing consumer trust in the platform [25][28].

Group 1 - The Qixi Festival serves as a window to observe young consumer trends, with significant growth in categories such as beauty, skincare, and digital products, showing nearly 50% year-on-year increase in order volume [1] - The "100% genuine product guarantee" has effectively alleviated consumer concerns, enhancing shopping experiences and boosting consumer confidence [1] - Beauty and skincare emerged as the biggest winners during the Qixi Festival, with order volume increasing by 47% year-on-year and 17% month-on-month [1] Group 2 - Young consumers prioritize both brand and price when purchasing beauty gifts, with discounts and genuine product guarantees being key factors influencing their decisions [3] - The collaboration between the platform and major beauty brands has led to significant discounts, with popular products priced as low as 15% off, aligning with the consumer desire for high-quality brands at competitive prices [3] - The platform's official quality inspection service ensures that over 70 brands undergo rigorous quality checks before delivery, addressing long-standing concerns about counterfeit products [4] Group 3 - The post-95 generation has become the main consumer force, and the platform has focused on optimizing its supply chain to provide high-quality, cost-effective products [4] - The platform continues to expand its product categories and enhance consumer experiences through installment plans and subsidies, supporting the growth of the domestic consumption market [4]