UPDATE #4 - Shocking! China’s luxury market “revenge” shopping rebound
Hermes breaks one-day sales revenue record of $2.7 million in single Guangzhou flagship store.
In the last few days, there has been some news that has emerged as a bright spot amid the darkness that has surrounded the global fashion market since this virus started its spread, and I would like to share it here. Hermes, recorded a crazy one-day sales revenue figure, of $2.7 million in sales, for just one of its shops in China over the last weekend:
This happened after the re-opening of commercial centers in China earlier this month, after the virus restrictions were gradually lifted, and this sale happened in one of its shops in Guangzhou, the No. 4 city in China, not even the most populous of the big cities in China.
This is evidence of the surge in "revenge" spending, the growth in consumer appetite after being cooped up for months.
After several months of a halt in commercial activity, Chinese consumers are now embracing brands from Europe with renewed and even, more fervent enthusiasm than before. Again, this is a bright light in this darkness in this industry now.
Again, in this article, we see that just one single store, in Guangzhou, has generated this massive amount of sales revenue in just one day. This figure has shocked the entire global fashion industry. China has already quite literally become one of the most important future engines of growth for the global fashion industry, and this position is now solidified, and cannot be replaced by any other market, its importance will only grow even more firm with time.
In comparison to the status of the fashion markets in Europe and America, the resurgence of the China fashion market, it's magnitude, has been very surprising; and whether we like it or not, not one person in the global fashion industry, can deny this market's key position, its irreplaceability on the global stage now.
As a member of this industry, we are very excited by this. And as a result, I share this news with everyone, no matter if you are already in partnership with us, you are now in the process of communicating with us or, if you do not want to enter into partnership with us, we hope nonetheless, that everyone in the fashion industry can pay attention to the Chinese market, and follow the changes in trends and preferences for fashion in this part of the world, and through this, claim your part, your "heaven and earth", on this dazzling and alluring stage.