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During the Spring Festival, luxury goods have joined the ranks of the promotion force and faced with "low prices" for rationality.
During the Spring Festival period, the consumer market is experiencing a surge in both buying and selling activities. Major shopping malls are offering increasingly attractive discounts, and even luxury goods—rarely involved in price wars—have started to enter the promotional scene. From official brand websites to various B2C online platforms and physical store counters, many top international brands in luggage, fashion, and cosmetics have begun to lower their prices, making luxury more accessible to everyday consumers. What are the major luxury promotions happening this season, and how should shoppers respond?
Luxury brands are now actively participating in pre-holiday sales. According to recent interviews, well-known names like Fendi, Dior, Burberry, and Armani have been frequently seen in discount campaigns ahead of the Lunar New Year. These brands typically avoid such promotions, but this year’s trend is different. On Baidu LeCold’s online store, brands like Fendi, Coach, Estee Lauder, and Lancome are offering deals as steep as “2 times off with an additional 10% discount.†In Tianjin’s high-end department store Hisense Plaza, some merchants are running a 6.6-fold discount, along with an extra 10% shopping card. Many international names are included in these offers.
Online, dozens of luxury handbags are being sold at 5-6 times the original price, while premium cosmetics are available with up to 20 times the membership points. Some items are even priced as low as three times the original. This indicates that luxury brands are not only adjusting their strategies for the Chinese market but also trying to attract a broader audience.
According to industry insights, top international luxury brands have long been targeting the Chinese market. A recent report from Goldman Sachs highlights that China has maintained the highest growth rate in the global luxury market for three consecutive years. In 2010, almost all luxury brands that entered China saw double-digit growth. During interviews with several branded stores, reporters found that high-end fashion and handbags are showing significant sales increases. Some new models often sell out quickly. Additionally, online luxury shopping is on the rise, with 43% of Chinese luxury buyers now opting to shop online, according to Bain Consulting's 2010 report.
With so many luxury items appearing at “low prices,†how should consumers make informed decisions? When asked, Liu Yan, a professional working in a foreign company, expressed optimism about a Fendi handbag that originally cost over 9,000 yuan. The online sale price dropped to over 6,000 yuan, and some men's bags were even available for as low as 3,000 yuan. However, she admitted that it was still a tough decision, as buying two such items would cost tens of thousands. While the “low price†seems tempting, it's important for consumers to remain rational and consider their income, spending power, and actual needs before making a purchase.
As one consumer put it, “Luxury is still luxury—even if it's cheaper.â€