Japan'S Earthquake Hits Global Luxury
The occurrence of any major disaster will affect the development of the luxury market in a disaster country at the psychological level of consumption. "People will suddenly feel that luxury has no effect, and the former purchase is very stupid and repelled."
Japan's Circulation Association said that after the Japanese earthquake, the luxury market will suffer a great impact. This kind of impact will last for a certain period of time. The consumption concept of luxury goods will be less "justified" than in the past.
It is understood that at present, the major luxury brands have begun to consider whether to reduce investment and market share in Japan.
Mr. Angelo Cosmaro, the global sales director of Bellora, a famous Italy top grade bedding maker, said recently that after the earthquake, she would go to the Japanese market as soon as possible to put forward the development strategy under the new market environment and reconsider whether to adjust the layout of the Asian market.
For many luxury brands around the world, the Japanese earthquake will be their devil. According to relevant statistics, Japan accounts for 11% of the global luxury consumer market, and is the number one market for many luxury goods giants.
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