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Luxury brand bag price increase is not discussed

by:Xilong      2020-03-24
The low positions of luxury brands such as LV, GUCCI and Dior have been stable in China, and even more and more consolidated, because more and more people follow them. The price of buying these luxury brands a few years ago was only half of what it is now or even lower. And high prices now, many styles may still be out of stock. The price increase of luxury brand bags has not been discussed. It has become an unwritten rule in the industry. Almost every year, the price will rise once or twice, and the increase will be free and 3%-5%. Furthermore, luxury goods have become a relatively reliable investment. This year's price increase was earlier than the previous autumn, and was concentrated in April. The leader was LV's online price, followed by Chanel, Celine and Gucci, and Estee Lauder has also caught up with the limelight, with an increase of up to 20%. Why is this situation? The problem of tariffs and the depreciation of the euro are the main culprits for price increases. Due to the devaluation of the euro, the price of luxury brands in Europe is equivalent to 20% discount. In order to maintain the high-value image of luxury brands, these luxury brands have to raise prices to make up for these shrinking factors. Luxury bags are popular in China, but due to tariffs, the price of luxury goods in China is quite higher than 40% in the European market. Throughout the development of luxury brands, increasing prices has become their most important marketing strategy. The proportional relationship between the price and sales volume of luxury goods obviously does not conform to the conventional knowledge of economics, but luxury goods are such a business circle where the higher the price, the better the sales volume. There is no discussion about the increase in price.
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