Core Viewpoint - The article discusses the rising prices and market dynamics of down jackets in China, highlighting the factors influencing price increases and the evolving consumer preferences towards high-end brands. Group 1: Price Trends - The average price of down jackets in China increased from 452.6 yuan in 2014 to 656 yuan in 2020 [5] - The average price of down jackets has risen significantly, with a notable increase in the past few years [7] - The market size of down jackets in China was approximately 156.2 billion yuan in 2021, indicating substantial growth potential compared to Western markets [30] Group 2: Market Dynamics - The price of down materials has been on the rise since 2016, with 90% white duck down reaching about 390,000 yuan per ton and 95% white goose down reaching 722,000 yuan per ton in 2021 [13] - Domestic brands are increasingly adopting high-end strategies, with companies like Li Ning and Anta launching premium product lines [19] - The "down jacket hierarchy" reflects consumer perceptions, with brands like Moncler at the top, influencing overall market pricing [10][12] Group 3: Quality Indicators - The new national standard for down jackets, effective from April 2021, defines a down jacket as having a down content of at least 50% [33] - Key indicators for selecting down jackets include down content, fill weight, and loftiness, rather than just the type of down used [40] - Higher loftiness indicates better insulation, and the quality of down is not solely determined by whether it is goose or duck down [37]

Group 1 - The article discusses the rise of "fake middle class" consumers who opt for imitation brands and affordable alternatives to luxury items, particularly in the winter clothing market [5][6][7] - The popularity of "Putian down jackets" has surged, as manufacturers shift from producing imitation shoes to winter apparel, catering to cost-conscious consumers [9][10][18] - The article highlights the prevalence of counterfeit products in the market, with consumers often unaware of the quality issues, such as low down content in jackets sold as genuine [21][24][23] Group 2 - The Chinese down jacket market is projected to grow significantly, with an estimated market size of 2.5 trillion yuan by 2025, despite rising prices [26][28] - The increase in down jacket prices is linked to fluctuations in the poultry market, particularly the supply of ducks and geese, which affects the availability of down feathers [29][30][32] - The cost of high-quality down is substantial, with prices for 90% white goose down reaching approximately 1300 yuan per kilogram, indicating that lower-priced jackets may be of inferior quality [33] Group 3 - The article outlines a "hierarchy of disdain" among down jacket brands, where consumers of higher-end brands look down on those wearing lower-tier brands, reflecting a complex consumer behavior in the luxury market [34][38] - The perception of down jackets has shifted, with some brands like Canada Goose losing their exclusivity and appeal among middle-class consumers, who are now more price-sensitive [48][50][59] - The trend indicates that consumers are becoming more rational, often opting for practical and affordable options over luxury brands, especially in urban settings [60][70] Group 4 - The article emphasizes the importance of quality checks when purchasing down jackets, advising consumers to be cautious of prices that seem too low, as they may indicate counterfeit or substandard products [72]