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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, with major shopping malls offering increasingly attractive discounts. In a surprising twist, even luxury goods—rarely seen in price wars—have begun to join the promotional rush. From official brand websites to various B2C online platforms and physical mall counters, many top international brands in luggage, fashion, and cosmetics have started lowering their prices, making luxury more accessible to everyday consumers. What are these big international promotions, and how should shoppers respond?
Luxury brands are now actively participating in pre-holiday sales. According to recent reports, well-known names like Fendi, Dior, Burberry, and Armani have been frequently spotted in discount events leading up to the Lunar New Year. This is unusual, as such high-end brands rarely engaged in mass promotional activities before. On Baidu LeCold’s online store, for example, brands like Fendi, Coach, Estee Lauder, and Lancome are offering deals such as “2 times off and then 10% discount.†At Tianjin's Hisense Plaza, one high-end department store provided a 6.6-fold discount along with an additional 10% off via a shopping card, featuring several international luxury names. Online, dozens of luxury handbags are being sold at 5 to 6 times their usual price, while premium skincare products offer membership points worth up to 20 times the normal rate, with some items priced as low as three times their original value.
It seems that global luxury brands are intensifying their presence in the Chinese market. According to a recent report by Goldman Sachs, China has maintained the highest growth rate in the luxury goods market for three consecutive years. Since 2010, nearly all luxury brands entering the Chinese market have seen double-digit growth. During interviews with local first-tier brand stores, reporters found that high-end fashion and handbags have shown significant sales growth, with popular new models often selling out quickly. Meanwhile, online luxury consumption is on the rise. A 2010 report by Bain Consulting revealed that 43% of Chinese luxury buyers now choose to shop online.
With frequent price reductions from international brands, consumers must remain rational when deciding whether to take advantage of these deals. Liu **, a professional working in a foreign company, expressed optimism about a Fendi handbag that was originally priced over 9,000 yuan but was later discounted to 6,000 yuan online, and even lower at 7,000 yuan. Men’s bags can be found as low as 3,000 yuan. However, Liu also admitted she’s still hesitant, noting that purchasing even two of these items would cost tens of thousands. Despite this, the appeal of such “low prices†remains tempting. When it comes to luxury goods, consumers need to carefully assess their financial situation, spending capacity, and actual needs before making a purchase. As several interviewed consumers put it, luxury items may seem “cheap†during sales, but they remain luxury goods at heart.