Only 20% People Are Willing To Buy Luxury Goods In China.

"This duty-free shop is much better than the other places I've been shopping for, and the hardware environment of duty-free shopping is much better. At present, there are coupons in tax-free products, and many brands have been reduced quite a lot."

Offshore duty-free policy is highly regarded as a touchstone for building a new high level of domestic consumption.

However, the industry believes that due to the limited amount of existing offshore duty-free policy, the price advantage is not obvious, the sales of duty-free goods and the quality and level of related services are not high, the enthusiasm of Chinese keen on overseas consumption has been decreasing, and the trend of consumption capital outflow is serious.

There is still a long way to go to achieve the goal of "global purchase" at home.

Upgrading of duty free shops in Islands

According to the insiders, the implementation of offshore duty-free policy not only made up for the vacancy of high-end tourism shopping places in Hainan, but also promoted the integration of Hainan's tourism infrastructure with the international advanced level.

Sanya Haitang Bay on the South China Sea is the key development area for Hainan to build an international tourism island.

The largest single duty free shop in the world and the Sanya Ditang Bay duty-free shopping center opened in September 1st.

The total construction area of Haitang Bay duty-free shopping center is about 120 thousand square meters, with a commercial area of 72 thousand square meters. It is the largest single duty free shop in the world.

Cai Qingxia, deputy general manager of duty-free shops in Sanya, said that in the face of the increasing consumption demand of Chinese luxury goods, there is a huge market space for the development mode of "tourism + duty-free shopping" in Hainan.

In the Haitang Bay duty-free shopping center, we have learned nearly 300 international famous brands and over 100 thousand fashion items.

Among them, Prada, Giorgio Armani, Rolex and other more than 10 brands are the first time to enter the mainland China's tax exempt market channels.

Compared with tax goods, the 15% to 35% discount rate is one of the most important factors to attract domestic tourists to Islands duty-free shops.

Sanya duty-free shops once promised that international brand goods, especially luxury goods, are unified sales price strategy in the Asia Pacific region. The well-known brand goods will not be higher than the price of Hongkong brand counters.

Sanya's duty-free shops are still hard to cover up the embarrassment of "fat water outflow".

In recent years, people's enthusiasm for overseas consumption has been decreasing, and the trend of consumption capital outflow is serious.

A tourist who has just returned from Korea said that Seoul's duty-free shops had no limit on foreign tourists' shopping, and the price advantage of duty-free goods was very obvious, which was more favorable than Hainan's.

"The Lotte duty-free shop in Seoul is almost entirely Chinese. In the cosmetics area, some of the brands in South Korea are crowded with tourists. Some cosmetics are even sold out and there are long queues to pay."

She said that if Hainan's duty-free shopping can be like South Korea, people do not have to go shopping abroad.

According to statistics, consumption in China accounted for 73% of luxury consumption in 2013, an increase of 8% over 2012.

According to research data from relevant agencies, only 20% of Chinese people in 2013 were willing to buy luxury goods in China.

According to Zhou Ting, President of the Institute of wealth and quality, China's consumers have become the largest consumer group in the global tourism retail sector, supporting the half of the European luxury market.

According to the data released by the financial times, Chinese tourists spend about 300 million pounds (2 billion 780 million yuan) a year in the UK. In Heathrow Airport in London, Chinese tourists account for 1% of the total tourists, but they create 25% tax-free income. Burberry's outlets in Hackney, London, about 3/4 of Chinese tourists are on non weekend.

Wang Jiansheng, President of Hainan Tourism Development Research Association, believes that the implementation of tax exemption in Hainan Islands is insufficient in preventing the outflow of consumption funds.

First of all, a large proportion of Bali Island's duty-free shops are local specialties, which contribute greatly to local economic development and benefit the people.

There are not many local products in Islands duty-free shops in Hainan.

Secondly, tax-free shopping is just a part of building an international shopping center.

Now the hardware is getting better and better, but there are still some shortcomings in the software.

Experts believe that the Islands tax exemption limit still needs to be relaxed.

Compared with the limit of 16000 yuan in Okinawa island of Japan, Hainan Island's 8000 yuan tax-free quota is still not enough.

In addition, after the implementation of Islands's tax exemption in Hainan, there are many benefits in terms of price, but the advantages are limited. Many products are still higher than foreign duty-free shops, and there are no overseas categories.

The Institute of wealth studies predicts that the domestic and foreign consumer price differentials still exist. The insecurity of domestic consumer goods and the shortage of some commodities make Chinese people more willing to trust the quality and shopping experience of foreign goods.

Therefore, the trend of foreign consumption in the future will continue, the number of overseas tourists will continue to increase, and the amount of foreign consumption will continue to grow.

Wang Yongjun, Dean of the Institute of Finance and economics of Central University of Finance and Economics, thinks there are many reasons for the outflow of consumption.

Chinese consumers are pragmatic and pragmatic, and are more and more realistic.

Retreat not only refers to the pursuit of fashion, but also to "status goods (brand)", "

"And" you have I have to have "consumption orientation.

The new generation of consumer groups is becoming more and more personalized, and more and more willing to try boldly. At the same time, they have more and more ability to achieve their own economic needs.

Against this background, offshore duty-free policy has been placed with high hopes that it can become a touchstone for building a new high level of domestic consumption.

However, the industry believes that this "hope for the best" type of measures, in the short term to achieve the goal of "global purchase", there is still a long way to go.

Zhou Ting, Dean of the Institute of wealth and quality, thinks that Islands tax exemption is actually a disguised attempt by the state to tariff reform, and it is also one of the effective means to keep consumers in China.

The low price is the main reason to stimulate the consumption of domestic consumers abroad. After the implementation of Islands's tax exemption in Hainan, there are many benefits in terms of price, but the price advantage is very limited. Many products are still higher than foreign duty-free shops, and there are no overseas categories.

Zhou Ting said that although the area of Haitang Bay duty-free shopping center was nearly 7 times larger than that of the indoor duty-free shop before, it did not increase in terms of commodity category. It only added some new brands or expanded the brand stores on the basis of the original categories.

At the same time, the policy of return and exchange is not flexible abroad, and many products do not support return.