Abstract
As a big consumer of luxury brands, China has entered a period of rapid transformation under the impact of millennials and fashion brands. With the development of economy and the popularization of education, more and more people begin to purchase rationally, and consumers’ understanding of consumption is also gradually diversified. Based on the big data analysis of consumers’ attitude towards brand alliance, this paper puts forward some suggestions for the development of luxury brand and fashion brand in the future.
Highlights
With the development of economy and the birth of a new generation of consumers, more and more people begin to pay attention to the competition between fashion brands and luxury brands
Street culture has become an important term in today's consumer market, fashion is leading people's taste
Famous luxury brands have chosen to cooperate with fashion brand or high street brands
Summary
With the development of economy and the birth of a new generation of consumers, more and more people begin to pay attention to the competition between fashion brands and luxury brands. The report points out: in 2018, the global personal luxury brand market sales will increase by 6% to 8% year-on-year at the constant exchange rate, reaching 276 billion euro to 281 billion euro. The Chinese market and millennial consumers are still the drivers of the luxury brand industry. The global luxury brand market is expected to reach 390 billion euro by 2025. The rise of street culture and high street fashion has a huge impact on the luxury brand market. Various brands of street wear have joined the luxury brand market one after another, hoping to get a share of the market. The millennial consumers are fans of street culture. It is important for the luxury brand industry to grasp the psychology of today's young people. The rise of street wear and the decline of traditional luxury brand logo reflect that luxury brand is in great crisis nowadays
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