Core Insights - Luxury goods consumption in China is showing a rebound during this year's "Double Eleven" despite a challenging overall consumption environment, indicating a shift towards rational and diversified consumer behavior [1][2] - The demand for luxury goods has become distinctly segmented into three main consumer groups: the "tasting tribe" seeking new products, the "experiential faction" valuing personalized aesthetics, and the "rational faction" focused on high cost-performance [1][2] Group 1: Market Trends - Major e-commerce platforms report significant growth in luxury goods sales, with Tmall's luxury brand transactions achieving double-digit year-on-year growth during "Double Eleven" [1] - Bain & Company forecasts a general decline in luxury brand performance by mid-2025, yet highlights the resilience of Chinese consumer demand for luxury products [1] Group 2: Consumer Behavior - Modern consumers are increasingly willing to pay for experiences that provide emotional value, leading to a preference for discount channels over full-price stores for entry-level luxury goods [2] - The interaction between brands and younger consumers, particularly Millennials and Generation Z, has fundamentally changed, with a focus on style and emotional resonance rather than brand logos [2] Group 3: Product Categories - There has been rapid growth in categories such as ice sports and high-end home goods during "Double Eleven," with designer lighting, premium tableware, and home fragrances leading the charge [2] - The luxury goods market is evolving from a status symbol to emphasize practicality, cost-effectiveness, and emotional value [2]

21世纪经济报道记者赵佳佳实习生刘是卓 低迷的奢侈品消费或将在双十一迎来"逆转"。 全球知名咨询公司贝恩公司发布的研究报告，作为两大核心奢侈品市场的中国与美国近年来出现下滑趋势。2025年上半年，各 大奢侈品集团的营业收入、净利润都呈现下滑的态势。 但在今年双十一中，奢侈品又成为备受消费者关注的热门品类之一，据天猫双十一第一周期数据显示10月20日正式开售后，奢 品品牌整体成交同比两位数增长，Balenciaga.Burberry、Canada Goose、Coach、MiuMiu、Maison Margiela、Max Mara.Moncler、 Ralph Lauren等品牌均在天猫实现高双位数增长。 而即使在奢侈品市场规模整体下滑的时间点上，消费者对于奢侈品的需求仍然旺盛——只不过和过去相比，当下消费者的奢侈 品消费正在逐渐分化：有的消费者重视"新品"，渴望尝鲜；有的消费者重视个性化审美与体验；有的消费者重视"高性价比"、 降低品牌溢价。不同的需求正在重新洗牌奢侈品消费市场。 而特卖电商唯品会数据显示，多个奢侈品品牌销量同比增长超30%。同时，主打奢侈品特卖的唯品会，还在今年双十一期间， 引入中检鉴定师 ...

Core Insights - Luxury brands are experiencing significant growth during this year's Double 11 shopping festival, with overall sales increasing by double digits year-on-year on Tmall [1] - The shift in luxury consumption is towards lifestyle and quality enhancement, with a notable rise in demand for winter sports gear and high-end home goods [3][5] Group 1: Sales Performance - Tmall's first cycle data shows that luxury brands like Balenciaga, Burberry, and Moncler achieved high double-digit growth in sales [1] - The luxury segment for winter sports equipment saw over 80% year-on-year growth since October, driven by brands like Balenciaga and Zegna [3] - High-end home goods are emerging as a new growth area, with brands like Wedgwood and HAY also reporting double-digit sales increases [3] Group 2: Consumer Trends - Millennials and Gen Z are becoming the main consumers of luxury goods, seeking brands that resonate with their personal aesthetics rather than just logos [5] - Coach experienced a three-digit percentage increase in sales on Tmall's Double 11 opening day, attributed to its unique product lines appealing to younger consumers [5] - The introduction of new products is a key driver for growth, with over 200 luxury brands launching more than 10,000 exclusive items during this year's event [5]