过去几年，涨价是奢侈品巨头的秘密武器。RBC数据显示，疫情后消费报复性反弹，奢侈品牌趁势提 价，从2019年到2023年，奢侈品品牌平均涨价33%。香奈儿经典翻盖包价格从2015年起至2024涨超过三 倍，迪奥手袋和路易威登Keepall旅行包价格也翻倍。 瑞银数据显示，2019年以来，奢侈品行业一半的增长来自涨价。但如今，这一招已经行不通了。咨询公 司贝恩指出，仅2024年全球奢侈品行业就有5000万消费者流失，在经济压力和"价格疲劳"双重打击下， 越来越多消费者对高价服饰与手袋失去兴趣。消费者不再盲目买单，尤其是年轻人和偶尔消费的人群， 变得更加理性。 GAM资产管理公司奢侈品牌投资策略负责人Flavio Cereda指出，那些定价策略失衡的品牌，如今遭遇的 压力最大，这本就是前期过度增长后的自然结果。 品牌分化，谁能守住高端定位？ 在这场调整中，不同品牌的表现开始分化。 瑞银预计，为了消化这15%的关税，奢侈品牌平均需在美国提价约2%，全球平均提价约1%，否则将直 接影响约3%的息税前利润。但问题是现在的消费者还愿意为此买单吗？ 分析称，在当前消费疲软的背景下，这种涨价可能极具挑战性。从近期各大奢侈品牌 ...

Core Viewpoint - The rise of "superfakes" is significantly disrupting the luxury goods industry, as counterfeiters have developed high-quality replicas that closely resemble genuine products, leading to changing consumer perceptions and behaviors towards luxury brands [2][3][5]. Group 1: Impact on Luxury Brands - Young consumers are increasingly favoring "superfakes," with a notable decline in spending on genuine luxury items, as evidenced by a $5 billion decrease in spending by Gen Z consumers in 2023 compared to the previous year [5][6]. - The perception of luxury brands being overpriced has led to a growing acceptance of high-quality replicas as a viable alternative, with some consumers questioning the fairness of purchasing genuine luxury items [5][6]. - Luxury brands are facing challenges in distinguishing their products from high-quality counterfeits, as even trained sales assistants struggle to identify differences between genuine and counterfeit items [7][9]. Group 2: Counterfeit Production and Distribution - Counterfeiters are utilizing advanced techniques and technologies to produce high-quality replicas, often reverse-engineering genuine products to create indistinguishable fakes [9][12]. - The online distribution model for counterfeit goods has evolved, with counterfeiters directly selling to consumers through social media and encrypted messaging platforms, complicating regulatory efforts [10][11]. - The production cost for high-quality replicas is significantly lower than that of genuine luxury items, allowing counterfeiters to maintain high profit margins while offering products at a fraction of the price [13][14]. Group 3: Consumer Behavior and Market Dynamics - The language surrounding counterfeit products has shifted, with terms like "superfake" and "1:1 replica" becoming more common, reflecting a change in consumer attitudes towards these items [3][5]. - Some consumers view purchasing high-quality replicas as a form of rebellion against luxury brands, further driving the demand for counterfeit goods [5][6]. - The luxury industry is grappling with the reality that some consumers who initially purchase replicas may eventually transition to buying genuine products, complicating brand loyalty dynamics [14].