The huge spread of luxury goods in China and abroad has caused a large number of Chinese people to go abroad to buy luxury goods. On June 15, Yao Jian, spokesman of the Ministry of Commerce stated that China will further reduce import tariffs, including tariffs on medium and high-grade goods, and relevant government departments have reached a consensus on this. However, within a week, officials of the Ministry of Finance made a very different statement, saying that there was no plan to adjust the import tariffs on luxury goods. The openness of the “minds of conflict†on the issue of luxury goods tariffs between the two ministries and commissions has also triggered a series of discussions in the private sector.
More and more consumers in China are waiting to see how the tariffs on luxury goods are reduced. Regarding the debate on how to define luxury, whether luxury goods should be tax-cut, and whether tax reductions reduce prices, on August 22, an interesting scene appeared on the “China Luxury Goods Tariff Seminar†sponsored by the World Luxury Goods Association. Experts from the Ministry of Finance and the Ministry of Commerce all expressed their opposition to the reduction of luxury goods tariffs. Scholars from research institutions have endorsed tax reductions for luxury goods, and some experts have even proposed to reduce them to zero in order to expand imports and improve the balance of payments structure.
The intense debate begins with a set of data. The World Luxury Association’s 2011 Official Report Blue Book released by the World Luxury Association on June 9 shows that Chinese consumers spent nearly 50 billion U.S. dollars on luxury goods in Europe last year, which is 4 times that of China.
Mei Xinyu, a senior researcher at the Ministry of Commerce Research Institute, questioned that the data was overstated. He pointed out that last year, the total expenditure on Chinese travel services abroad was $54,880 million. This data includes accommodation, transportation, and shopping. According to the report of the World Luxury Goods Association, it cost 50 billion U.S. dollars to buy luxury goods in Europe alone. This means that last year China exported a total of 57.368 million passengers, with an average of more than 80 U.S. dollars for accommodation and play. The cost, this figure is obviously not reliable. For this reason, experts believe that since the figures are wrong, it is naturally untenable to say that the “outflow of luxury goods, based on this figure, can retain large amounts of consumption through tax reductionâ€. Gong Huiwen of the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation used data to support Mei Xinyu’s views. Gong Huiwen pointed out that the price of luxury goods in China is indeed a difference of 72% from that of the United States, but this is not all the difference caused by the tax rate.
In this seminar, whether the tariff of luxury goods will be adjusted during the year, the experts of the ministries and commissions did not give a clear statement. Liu Zu, director of the Taxation Bureau of the State Administration of Taxation, said that general tariff adjustments are at the end of the year. The taxation of luxury goods over ordinary consumer goods is a common practice in developing countries.
Of course, not all participating experts are opposed to reducing tariffs on luxury goods. Zhao Ping, director of the Consumer Economics Research Department of the Ministry of Commerce, believes that tax reductions for so-called luxury goods should be treated differently. With the increase in income, at present, some brands of cosmetics and bags have entered the goods that the middle class can afford, and are closely related to urban middle-income people. Such so-called luxury goods should be drawn from the original scope. According to Gong Huiwen, the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation, there is no special item for luxury goods in the tariffs. Luxury goods should be defined and subdivided, and tax burdens should be adjusted hierarchically. For mass-related luxury goods that are closely related to life, such as cosmetics and perfumes, the import tax and consumption tax should be appropriately lowered, and domestic policies are also being studied. For some of the top luxury goods that are far away from most residents, such as watches, jewellery and other high-end products, tax reductions are not required, and if necessary, they can also increase import tariffs.
The high price of domestic luxury goods is an indisputable fact. According to a survey released by the World Luxury Association on domestic and foreign luxury prices in the first and second quarter of this year, the difference between domestic and foreign luxury market prices is still huge, ranging from 50% to 350%.
All parties argued that the import tariffs on luxury goods and luxury goods are not reduced. This led to fierce debate among experts at the China luxury goods tariff seminar. “No tax cuts†experts believe that the benefits of tax reduction for luxury goods are not as large as legends, and “downsizing†experts say that in order to avoid consumption outflows, they should take the lead in reducing the tariffs on luxury goods related to people’s lives such as cosmetics and perfumes. .
Taxation of non-tax-reducing consumer figures is not equal to the reduction of prices. Senior Researcher of the Research Institute of the Ministry of Commerce Mei Xinyin Mei Xinyu: First, the data in the "World Luxury Association 2011 Official Report Blue Book" released by the World Luxury Goods Association in June. I do not agree. The report said that the amount of luxury goods purchased by Chinese tourists in Europe last year reached 50 billion U.S. dollars. This figure is extremely exaggerated. According to China’s international luxury goods balance sheet, last year, China’s tourism services spent abroad. The total amount is US$54,880 million. This data includes accommodation, transportation, shopping and all other contents. According to the report of the World Luxury Goods Association, it cost 50 billion U.S. dollars to buy luxury goods in Europe alone. This means that last year China exported a total of 57.368 million passengers, with an average of more than 80 U.S. dollars for accommodation and play. The cost, this figure is obviously not reliable. Since the numbers are wrong, it is naturally untenable to say that the “outflow of luxury goods, based on this figure, can retain large amounts of consumption through tax reductionâ€. I think from the data analysis point of view, we must rely on the reduction of import tariffs on luxury goods, and effectively expand the domestic consumer market, from this data can not be established.
I firmly oppose the reduction of import tariffs on luxury goods. The reason is that even if tariffs are lowered, luxury goods may not necessarily be reduced. If I am a luxury goods operator and the import tariff is lowered, I will never lower the selling price. I will only use this opportunity to put the reduced tax money into my pocket, and will never let profits be given to consumers. Because the consumer psychology of purchasing luxury goods is to demonstrate identity, not seeking the best but seeking the most expensive, then why should operators lower prices?
Even if the tariff abolishment spread still exists Gong Huiwen and Gong Huiwen of the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation, luxury goods have two concepts from the dynamic level. The first is the popular luxury goods, the first is the top luxury goods, and the popular understanding is the low price. With high-end luxury goods, I personally do not understand this distinction. Since it is popularization, it is not a concept of luxury goods in the traditional sense. On this basis, it can be affirmed that previously luxury goods are not luxury products. This part of the tariff is This should be taken for granted. This adjustment is also taken into account in the adjustment of our domestic consumption tax policy.
How to levied on the real sense of high-end luxury goods? I think that tariffs must be imposed and high tariffs must be imposed. Regardless of whether it is levy tariffs or domestic consumption tax, levying high taxes on luxury goods, these two tax policies should be consistent, and the domestic consumption tax with reduced tariffs should also be reduced. We must consider how taxes are taxed on luxury goods from the overall consideration of taxation; Both policies should impose high taxes. Why? These two kinds of taxes are mainly two purposes. The first purpose is to regulate the distribution of income. Many experts have mentioned that luxury goods are aimed at high-income groups. It is only natural to impose high taxes. Second, it helps to guide the development of the entire society. The concept of good and healthy consumption should first of all show that, from an individual point of view, I have the right to choose different grades of consumer goods for everyone. It is legitimate to buy luxury goods from an individual point of view. We are blameless and how we deal with a society and a group. There is a problem with promoting high-end consumer goods.
Reducing tariffs does not stimulate domestic demand, nor does it necessarily benefit the common people. The price of luxury goods in China is indeed a difference of 72% from that of the United States, but this is not the difference between the tax rates. In the case of cars with the largest tax differences between China and the United States, China’s consumption tax is 25%, and the United States is 2.5%. Even if the tax difference is reduced, how much can the spread be reduced? In other words, the difference between the price of luxury goods in China and the world is big at the retail end, not the difference in tariffs. Even if tariffs are cancelled, the spread remains.
There is no clear timetable for tax reduction of luxury goods Liu Zuo, director of the Taxation Bureau of the State Administration of Taxation Liu Zuo Zuo: There is no clear timetable for the tax reduction of luxury goods. However, depending on the time of annual tariff adjustments, there may be adjustments this year. At least wait until the end of the year.
For the reduction of tariffs on luxury goods, the first thing to be solved is the definition of luxury goods. The World Luxury Goods Association defines luxury goods based on the average monthly income of a country's first-tier cities. The price of a single product market is higher than the per capita monthly income of the first-tier cities in the country before taxes and excise duties are added.
There are four types of tax on luxury goods imported from China. One is the import tariff, the other is the general value-added tax on imported goods, the third is the consumption tax, and the fourth is the collection of vehicle purchase tax on imported cars. In 2010, China's import value-added tax and consumption tax amounted to 1.0491 trillion yuan, the total national tax revenue was 14.3%, the import tariff was 202.8 billion yuan, and the total national tax revenue was 2.8%, totaling 1251.9 billion yuan, accounting for national tax revenue. 17.1% of the total.
The structure of a country’s tax system is closely related to the level of economic development of the country. The structure of taxation in developing countries is dominated by indirect taxes, mainly VAT, consumption taxes and tariffs. China now imposes taxes on imported goods such as luxury goods and is a reality in China. A manifestation of the level of economic development. Moreover, due to fair considerations, the tax policy cannot also reduce the taxation of rich people.
Supporting tax cuts Lowering tariffs can stimulate domestic business growth The Italian Embassy Trade Promotion Commissioner Lai Shiping Lai Shiping: If Europe and the United States enter a recession, China will become the world’s largest luxury consumer in the next two years. The condition is that a large number of import tariffs will be reduced.
Some people think that higher tariffs will reduce the entry of foreign luxury brands, and then buy more domestic luxury brands. In my opinion, the luxury brands are defined by the buyers themselves. Even if they like the luxury brands that cannot be bought in the country or the tariff is too high, they will go abroad to go to Paris, Milan and Rome. In short, they still won't buy Chinese luxury brands, so the more protectionistic they use, the more they buy abroad.
China is the world’s largest producer and exporter of automobiles and furniture. Where are the problems? The problem is that Chinese companies pay attention to quantity because they contribute to the market by quantity, so what is the relationship between quantity and quality? This is the core of the problem. Local manufacturers do not do enough to build brands, so they are afraid of fierce competition from foreign brands.
If overseas luxury goods are allowed to enter China, they can actually stimulate the growth of domestic companies in China. For example, many people are fat, but they are not very robust. The entry of foreign companies is actually an example for these companies. They invest in design. They invest in the market and they are very strong. They learn from these foreign countries. The company's experience, Chinese companies can learn a lot. Therefore, competition is very beneficial to Chinese companies. Chinese companies must not only be very fat but also very strong and must learn to compete.
Tax reduction is a trend but the time is uncertain. Zhao Ping, the director of the Department of Consumer Economics Research, Ministry of Commerce, China: Luxury goods is an affirmation of China's reform and opening up, and luxury goods are a dynamic concept. For example: The old bike is a luxury item. Now that the economy car is a transportation tool, the past is a luxury product. Now it is not a luxury product, and it has become a necessity for people's lives. Therefore, the answer to the question of whether or not the tax falls is not “black and whiteâ€. In the long run, the tax reduction is a trend, but it does not mean that the days will come down. With the improvement of the economic level, people are constantly pursuing a high quality of life is an inevitable demand, I think that this kind of goods should be viewed from the long-term trend should be properly lowered tariffs to meet the growing material and cultural needs of the people's groups.
Luxury goods tariffs should be adjusted in layers Song Li Song Li, professor of the China Institute of Reform and Development at Renmin University of China: With the development of China's economy, it has now entered an important stage of consumer upgrading. The foreign experience is that when the per capita income reaches a certain level, there will be two trends of rising outbound travel and rising consumption of large commodities. For China, “unfortunatelyâ€, the growth of overseas travel and consumption has converged. As a result, the growth in spending power has increased with overseas travel and has not become domestic demand.
Without affecting the domestic related industries, some luxury tax may be properly raised, and some may remain unchanged, while others may be adjusted downwards. For example, Class A luxury tax may be raised appropriately, Class B immovable, and Class C tariff Lowered.
Avoiding Consumer Outflow Luxury Goods Should Be Classified Tax-Reduction Ou Yangkun Ouyang Kun, Chief Representative of the World Luxury Goods Association China: The World Luxury Goods Association recommends a tiered adjustment of luxury goods tariffs, and 85% of young Chinese consumers are willing to use foreign perfumes, cosmetics, etc. Goods have gradually become a necessity, that is, they must be consumed.
Due to the large domestic and international spreads, domestic consumers prefer to go abroad to buy, but in order to make up for the cost of airline tickets and hotels, it is necessary to purchase some bags and so on to balance expenditures. Therefore, in order to avoid the outflow of consumption, perfumes, cosmetics and other luxury goods that must be consumed should first realize tax reductions.
In July, major luxury brands have reported price increases: Since July 1, more than 300 Cartier products have risen across the board, with an average increase of 9%. Louis? Weideng's average gain was 6%. The price of a black champagne bag rose from 16,000 yuan to 19,000 yuan. Chanel's classic handbag rose from 3 million yuan to 37,500 yuan, or more than 20%. In addition, Estee Lauder's products generally increase prices by 5% to 8%, of which 50ml of instant repair and special essence cream rose from 880 yuan to 940 yuan, or 7%. Regardless of whether import taxes are adjusted, high-end brands will adopt appropriate strategies to lock products in the high-end market.
More and more consumers in China are waiting to see how the tariffs on luxury goods are reduced. Regarding the debate on how to define luxury, whether luxury goods should be tax-cut, and whether tax reductions reduce prices, on August 22, an interesting scene appeared on the “China Luxury Goods Tariff Seminar†sponsored by the World Luxury Goods Association. Experts from the Ministry of Finance and the Ministry of Commerce all expressed their opposition to the reduction of luxury goods tariffs. Scholars from research institutions have endorsed tax reductions for luxury goods, and some experts have even proposed to reduce them to zero in order to expand imports and improve the balance of payments structure.
The intense debate begins with a set of data. The World Luxury Association’s 2011 Official Report Blue Book released by the World Luxury Association on June 9 shows that Chinese consumers spent nearly 50 billion U.S. dollars on luxury goods in Europe last year, which is 4 times that of China.
Mei Xinyu, a senior researcher at the Ministry of Commerce Research Institute, questioned that the data was overstated. He pointed out that last year, the total expenditure on Chinese travel services abroad was $54,880 million. This data includes accommodation, transportation, and shopping. According to the report of the World Luxury Goods Association, it cost 50 billion U.S. dollars to buy luxury goods in Europe alone. This means that last year China exported a total of 57.368 million passengers, with an average of more than 80 U.S. dollars for accommodation and play. The cost, this figure is obviously not reliable. For this reason, experts believe that since the figures are wrong, it is naturally untenable to say that the “outflow of luxury goods, based on this figure, can retain large amounts of consumption through tax reductionâ€. Gong Huiwen of the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation used data to support Mei Xinyu’s views. Gong Huiwen pointed out that the price of luxury goods in China is indeed a difference of 72% from that of the United States, but this is not all the difference caused by the tax rate.
In this seminar, whether the tariff of luxury goods will be adjusted during the year, the experts of the ministries and commissions did not give a clear statement. Liu Zu, director of the Taxation Bureau of the State Administration of Taxation, said that general tariff adjustments are at the end of the year. The taxation of luxury goods over ordinary consumer goods is a common practice in developing countries.
Of course, not all participating experts are opposed to reducing tariffs on luxury goods. Zhao Ping, director of the Consumer Economics Research Department of the Ministry of Commerce, believes that tax reductions for so-called luxury goods should be treated differently. With the increase in income, at present, some brands of cosmetics and bags have entered the goods that the middle class can afford, and are closely related to urban middle-income people. Such so-called luxury goods should be drawn from the original scope. According to Gong Huiwen, the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation, there is no special item for luxury goods in the tariffs. Luxury goods should be defined and subdivided, and tax burdens should be adjusted hierarchically. For mass-related luxury goods that are closely related to life, such as cosmetics and perfumes, the import tax and consumption tax should be appropriately lowered, and domestic policies are also being studied. For some of the top luxury goods that are far away from most residents, such as watches, jewellery and other high-end products, tax reductions are not required, and if necessary, they can also increase import tariffs.
The high price of domestic luxury goods is an indisputable fact. According to a survey released by the World Luxury Association on domestic and foreign luxury prices in the first and second quarter of this year, the difference between domestic and foreign luxury market prices is still huge, ranging from 50% to 350%.
All parties argued that the import tariffs on luxury goods and luxury goods are not reduced. This led to fierce debate among experts at the China luxury goods tariff seminar. “No tax cuts†experts believe that the benefits of tax reduction for luxury goods are not as large as legends, and “downsizing†experts say that in order to avoid consumption outflows, they should take the lead in reducing the tariffs on luxury goods related to people’s lives such as cosmetics and perfumes. .
Taxation of non-tax-reducing consumer figures is not equal to the reduction of prices. Senior Researcher of the Research Institute of the Ministry of Commerce Mei Xinyin Mei Xinyu: First, the data in the "World Luxury Association 2011 Official Report Blue Book" released by the World Luxury Goods Association in June. I do not agree. The report said that the amount of luxury goods purchased by Chinese tourists in Europe last year reached 50 billion U.S. dollars. This figure is extremely exaggerated. According to China’s international luxury goods balance sheet, last year, China’s tourism services spent abroad. The total amount is US$54,880 million. This data includes accommodation, transportation, shopping and all other contents. According to the report of the World Luxury Goods Association, it cost 50 billion U.S. dollars to buy luxury goods in Europe alone. This means that last year China exported a total of 57.368 million passengers, with an average of more than 80 U.S. dollars for accommodation and play. The cost, this figure is obviously not reliable. Since the numbers are wrong, it is naturally untenable to say that the “outflow of luxury goods, based on this figure, can retain large amounts of consumption through tax reductionâ€. I think from the data analysis point of view, we must rely on the reduction of import tariffs on luxury goods, and effectively expand the domestic consumer market, from this data can not be established.
I firmly oppose the reduction of import tariffs on luxury goods. The reason is that even if tariffs are lowered, luxury goods may not necessarily be reduced. If I am a luxury goods operator and the import tariff is lowered, I will never lower the selling price. I will only use this opportunity to put the reduced tax money into my pocket, and will never let profits be given to consumers. Because the consumer psychology of purchasing luxury goods is to demonstrate identity, not seeking the best but seeking the most expensive, then why should operators lower prices?
Even if the tariff abolishment spread still exists Gong Huiwen and Gong Huiwen of the Foreign Taxation Research Office of the Taxation Bureau of the State Administration of Taxation, luxury goods have two concepts from the dynamic level. The first is the popular luxury goods, the first is the top luxury goods, and the popular understanding is the low price. With high-end luxury goods, I personally do not understand this distinction. Since it is popularization, it is not a concept of luxury goods in the traditional sense. On this basis, it can be affirmed that previously luxury goods are not luxury products. This part of the tariff is This should be taken for granted. This adjustment is also taken into account in the adjustment of our domestic consumption tax policy.
How to levied on the real sense of high-end luxury goods? I think that tariffs must be imposed and high tariffs must be imposed. Regardless of whether it is levy tariffs or domestic consumption tax, levying high taxes on luxury goods, these two tax policies should be consistent, and the domestic consumption tax with reduced tariffs should also be reduced. We must consider how taxes are taxed on luxury goods from the overall consideration of taxation; Both policies should impose high taxes. Why? These two kinds of taxes are mainly two purposes. The first purpose is to regulate the distribution of income. Many experts have mentioned that luxury goods are aimed at high-income groups. It is only natural to impose high taxes. Second, it helps to guide the development of the entire society. The concept of good and healthy consumption should first of all show that, from an individual point of view, I have the right to choose different grades of consumer goods for everyone. It is legitimate to buy luxury goods from an individual point of view. We are blameless and how we deal with a society and a group. There is a problem with promoting high-end consumer goods.
Reducing tariffs does not stimulate domestic demand, nor does it necessarily benefit the common people. The price of luxury goods in China is indeed a difference of 72% from that of the United States, but this is not the difference between the tax rates. In the case of cars with the largest tax differences between China and the United States, China’s consumption tax is 25%, and the United States is 2.5%. Even if the tax difference is reduced, how much can the spread be reduced? In other words, the difference between the price of luxury goods in China and the world is big at the retail end, not the difference in tariffs. Even if tariffs are cancelled, the spread remains.
There is no clear timetable for tax reduction of luxury goods Liu Zuo, director of the Taxation Bureau of the State Administration of Taxation Liu Zuo Zuo: There is no clear timetable for the tax reduction of luxury goods. However, depending on the time of annual tariff adjustments, there may be adjustments this year. At least wait until the end of the year.
For the reduction of tariffs on luxury goods, the first thing to be solved is the definition of luxury goods. The World Luxury Goods Association defines luxury goods based on the average monthly income of a country's first-tier cities. The price of a single product market is higher than the per capita monthly income of the first-tier cities in the country before taxes and excise duties are added.
There are four types of tax on luxury goods imported from China. One is the import tariff, the other is the general value-added tax on imported goods, the third is the consumption tax, and the fourth is the collection of vehicle purchase tax on imported cars. In 2010, China's import value-added tax and consumption tax amounted to 1.0491 trillion yuan, the total national tax revenue was 14.3%, the import tariff was 202.8 billion yuan, and the total national tax revenue was 2.8%, totaling 1251.9 billion yuan, accounting for national tax revenue. 17.1% of the total.
The structure of a country’s tax system is closely related to the level of economic development of the country. The structure of taxation in developing countries is dominated by indirect taxes, mainly VAT, consumption taxes and tariffs. China now imposes taxes on imported goods such as luxury goods and is a reality in China. A manifestation of the level of economic development. Moreover, due to fair considerations, the tax policy cannot also reduce the taxation of rich people.
Supporting tax cuts Lowering tariffs can stimulate domestic business growth The Italian Embassy Trade Promotion Commissioner Lai Shiping Lai Shiping: If Europe and the United States enter a recession, China will become the world’s largest luxury consumer in the next two years. The condition is that a large number of import tariffs will be reduced.
Some people think that higher tariffs will reduce the entry of foreign luxury brands, and then buy more domestic luxury brands. In my opinion, the luxury brands are defined by the buyers themselves. Even if they like the luxury brands that cannot be bought in the country or the tariff is too high, they will go abroad to go to Paris, Milan and Rome. In short, they still won't buy Chinese luxury brands, so the more protectionistic they use, the more they buy abroad.
China is the world’s largest producer and exporter of automobiles and furniture. Where are the problems? The problem is that Chinese companies pay attention to quantity because they contribute to the market by quantity, so what is the relationship between quantity and quality? This is the core of the problem. Local manufacturers do not do enough to build brands, so they are afraid of fierce competition from foreign brands.
If overseas luxury goods are allowed to enter China, they can actually stimulate the growth of domestic companies in China. For example, many people are fat, but they are not very robust. The entry of foreign companies is actually an example for these companies. They invest in design. They invest in the market and they are very strong. They learn from these foreign countries. The company's experience, Chinese companies can learn a lot. Therefore, competition is very beneficial to Chinese companies. Chinese companies must not only be very fat but also very strong and must learn to compete.
Tax reduction is a trend but the time is uncertain. Zhao Ping, the director of the Department of Consumer Economics Research, Ministry of Commerce, China: Luxury goods is an affirmation of China's reform and opening up, and luxury goods are a dynamic concept. For example: The old bike is a luxury item. Now that the economy car is a transportation tool, the past is a luxury product. Now it is not a luxury product, and it has become a necessity for people's lives. Therefore, the answer to the question of whether or not the tax falls is not “black and whiteâ€. In the long run, the tax reduction is a trend, but it does not mean that the days will come down. With the improvement of the economic level, people are constantly pursuing a high quality of life is an inevitable demand, I think that this kind of goods should be viewed from the long-term trend should be properly lowered tariffs to meet the growing material and cultural needs of the people's groups.
Luxury goods tariffs should be adjusted in layers Song Li Song Li, professor of the China Institute of Reform and Development at Renmin University of China: With the development of China's economy, it has now entered an important stage of consumer upgrading. The foreign experience is that when the per capita income reaches a certain level, there will be two trends of rising outbound travel and rising consumption of large commodities. For China, “unfortunatelyâ€, the growth of overseas travel and consumption has converged. As a result, the growth in spending power has increased with overseas travel and has not become domestic demand.
Without affecting the domestic related industries, some luxury tax may be properly raised, and some may remain unchanged, while others may be adjusted downwards. For example, Class A luxury tax may be raised appropriately, Class B immovable, and Class C tariff Lowered.
Avoiding Consumer Outflow Luxury Goods Should Be Classified Tax-Reduction Ou Yangkun Ouyang Kun, Chief Representative of the World Luxury Goods Association China: The World Luxury Goods Association recommends a tiered adjustment of luxury goods tariffs, and 85% of young Chinese consumers are willing to use foreign perfumes, cosmetics, etc. Goods have gradually become a necessity, that is, they must be consumed.
Due to the large domestic and international spreads, domestic consumers prefer to go abroad to buy, but in order to make up for the cost of airline tickets and hotels, it is necessary to purchase some bags and so on to balance expenditures. Therefore, in order to avoid the outflow of consumption, perfumes, cosmetics and other luxury goods that must be consumed should first realize tax reductions.
In July, major luxury brands have reported price increases: Since July 1, more than 300 Cartier products have risen across the board, with an average increase of 9%. Louis? Weideng's average gain was 6%. The price of a black champagne bag rose from 16,000 yuan to 19,000 yuan. Chanel's classic handbag rose from 3 million yuan to 37,500 yuan, or more than 20%. In addition, Estee Lauder's products generally increase prices by 5% to 8%, of which 50ml of instant repair and special essence cream rose from 880 yuan to 940 yuan, or 7%. Regardless of whether import taxes are adjusted, high-end brands will adopt appropriate strategies to lock products in the high-end market.
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