Investment Rating - The report positions the Home & Lifestyle Luxury sector in China as a transformative opportunity, indicating a positive investment outlook for this category. Core Insights - The evolution of luxury is shifting from status symbols to enhancing daily life, with consumers prioritizing comfort, aesthetics, and emotional connection over traditional craftsmanship and heritage [11][12][34]. - The pandemic has accelerated the desire for homes to become sanctuaries, leading to increased investment in home design and luxury furnishings [31][34]. - China's digital ecosystem provides a unique advantage for luxury brands to build awareness and reach consumers effectively, with over 50% of luxury transactions occurring online [76][77]. Summary by Sections Home Luxury: The Next Wave - The report highlights the transition of luxury consumption in China from logo-driven items to home and lifestyle luxury, reflecting a significant change in consumer values [19][27]. - Home Luxury is identified as the next natural evolution of luxury, driven by a more mature consumer base seeking emotional resonance and personal expression [11][35]. China's Home Luxury Landscape & Consumer Insights - The home décor market in China is projected to reach approximately US$20.23 billion in 2023, with a CAGR of 9.26% from 2023 to 2027 [32]. - Affluent consumers are increasingly prioritizing home aesthetics and quality of living, with over 70% indicating a shift from public display to private comfort [33]. - Categories such as luxury home fragrances and designer furniture are experiencing double-digit growth, confirming that Home Luxury is a fundamental change in wealth expression [34]. Emerging Consumer Trends - The report identifies five emerging consumer segments driving the luxury market: Elegant Homemakers, Urban Chic Aestheticians, Affluent Gen Z, Niche Collectors, and Luxury Enthusiasts [149][155]. - Younger consumers, particularly those aged 25-29, are investing in their first luxury home pieces, while high-net-worth families view home décor as part of asset allocation [92][96]. - The demand for premium home products is rising, with consumers willing to pay more for comfort and style, indicating a shift towards emotional and experiential luxury [102][142]. Moving Forward: Challenges & Solutions - The report acknowledges challenges such as logistics and perception shifts but emphasizes that aligning with consumer desires can overcome these barriers [13]. - It encourages brands to co-create and experiment within the Home Luxury space, inviting collaboration to drive the sector forward [14][66]. Conclusion - Home Luxury is positioned as a lasting trend, with significant growth potential as consumer preferences continue to evolve towards lifestyle-oriented luxury [5][12].

Core Insights - The luxury market in China is undergoing a structural transformation, with home and lifestyle becoming key growth areas as consumers shift their definition of luxury from external status symbols to internal living experiences [1][4]. Group 1: Evolution of Consumer Mindset - The luxury consumption in China has evolved through four key phases over the past 30 years, transitioning from status-driven consumption (1990-2005) to lifestyle-oriented luxury (2020-present) [2][4]. - The current phase emphasizes home as a canvas for identity, with consumers investing in home design and experiential luxury [4][24]. Group 2: Market Growth Drivers - Government policies are stimulating the housing market, leading to a significant increase in furniture retail sales, which grew by 6.8% in the first half of the year [5]. - The digital ecosystem in China supports luxury brands, with over 50% online penetration and a 20% growth in online sales of luxury home goods in 2023 [5]. - The number of high-net-worth households has reached 2.06 million, with younger consumers in lower-tier cities showing a strong demand for luxury home products [5]. Group 3: Product Innovation and Consumer Segmentation - High-growth categories include lighting, which saw over 300% growth in 2023, and luxury tableware and fragrances, which grew by 13% and 5% respectively [6]. - Core consumer segments include luxury enthusiasts aged 40-60, urban women aged 30-45, and Gen Z consumers aged 18-29, each with distinct preferences for home luxury [7][9]. Group 4: Future Trends - The competition in the home luxury market is increasingly centered around emotional value, with consumers seeking homes that serve as sanctuaries [10]. - Brands are encouraged to innovate through modular design, smart technology, and cultural storytelling to create a "growing lifestyle ecosystem" [10][24]. - The luxury home market is projected to grow significantly, with the home décor market expected to reach $20.23 billion by 2023, growing at a CAGR of 9.26% from 2023 to 2027 [45].

今天分享的是：天猫奢品× New Life家居奢品白皮书 报告共计：41页 - 品牌应对策略：品牌需针对不同消费群体制定差异化策略，推出符合其需求的产品。利用数字化营销手段，精准触达目标客 户。同时，注重产品设计创新，平衡产品的情感价值与功能属性，以在竞争激烈的市场中占据优势，推动家居奢侈品行业的持 续发展。 以下为报告节选内容 Tmall Luxury × New Life Group The New Wave of Luxury: Home & Lifestyle 《天猫奢品×New Life家居奢品白皮书》聚焦中国家居奢侈品市场，深入剖析其发展趋势、市场格局、消费者洞察等关键内容， 展现出该市场的巨大潜力与活力。 - 行业趋势：中国奢侈品市场历经多次变革，如今家居奢侈品成为新的发展方向。疫情促使消费者更加关注家居环境的舒适、美 观与情感体验，推动了家居奢侈品市场的增长。2023 - 2027年，中国家居装饰市场预计年复合增长率达9.26%，奢侈品家具市场 2024 - 2032年预计年复合增长率为4.8%，标志着家居奢侈品市场的崛起是大势所趋。 - 市场机遇：中国在全球奢侈品消费中占据主导地位，高净值家 ...