“`html
For luxury handbag aficionado Lin Qi, her smartphone alarm serves a triple purpose: work, meetings, and the frenzied pursuit of limited-time luxury deals.
This spring and summer, it’s not just athletic and outdoor goods that are booming – with sports equipment sales surging over 22% year-over-year according to retail sales figures for the first six months – but also discounted luxury items. Flash sales, both online and at exclusive private events, are becoming a go-to for consumers seeking accessible luxury, especially in apparel and handbags.
The key attraction for consumers like Lin Qi is undeniable: value. She notes that a classic Burberry handbag, typically priced at around $2,800 at a boutique, can often be found for approximately $420, or even at discounts of 70% or more, on online platforms such as VIP.com during limited-time promotional events. VIP.com’s “Global Luxury Brand Exclusive” event, which kicked off on July 28th, featured a medium Burberry shoulder bag for just $495 – a significant markdown from its original price of around $2,800 and even cheaper than its typical discounted price of $700.
However, this “sweet deal” comes with a catch: limited-time and limited-quantity offers. Lin Qi has to set alarms to snag the most coveted items. She recounts experiences where, while still contemplating the purchase, a particular handbag would already be marked as “sold out.” This element of scarcity and the fear of missing out (FOMO) are powerful drivers in this market.
The popularity of these flash sales is evident in the surge in product “favorites” before the events even begin. On July 27th, the day before VIP.com’s sale, the number of “favorites” for several Burberry handbags increased exponentially. Affluent, young professionals are the demographic fueling this trend, seeking both status and savings.
One report indicates that private sales already account for 18% of the global fashion market, representing a staggering €1.47 trillion. Forecasts predict that off-price sales will outpace full-price sales fivefold between 2025 and 2030, signaling a fundamental shift in consumer buying habits.
Zhuang Shuai, a retail e-commerce expert and founder of Bailian Consulting, explains that the surge in luxury flash sales is rooted in evolving consumer values. The rising middle class, a dominant consumer force, prioritizes value for money and rational spending. Even when it comes to luxury goods, they seek premium brands and products at accessible prices.
However, Zhuang Shuai cautions that luxury flash sales place significant demands on the supply chain. From sourcing authentic, discounted products to managing supply chain costs efficiently and ensuring effective operations, platforms face substantial challenges. Only through robust, end-to-end supply chain control can luxury flash sales truly flourish.
“`
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/5776.html