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Article Title : Characteristics, Problems and Development Suggestions of China's Luxury Market
Author(s) : Ciwangcuomu
Corresponding Author : Ciwangcuomu
Keywords : luxury goods economy; impulsive consumption; consumption motivation; domestic brands.

In the downturn of the real economy and the virtual economy, the development of the luxury goods industry has bucked the trend. This is in contrast to the traditional Chinese values of diligence and frugality, and the contradictions and conflicts among them are worth pondering. Luxury goods are not only rare and expensive, but also classic and unique goods. They are a kind of consumer goods that are beyond the range of people's survival and development and need, that is, non-essential goods. The Chinese luxury goods market has the characteristics of a large scale (first in the world), the rapid growth of client groups, and online sales channels. There are also problems such as unreasonable consumption motivation, impulsive consumption, and intense outflow of luxury consumption. Because of this, this article proposes that we should guide the reasonable consumption of luxury goods, strengthen the competitiveness of domestic brands, and vigorously develop e-commerce channels, and constantly promote innovation and cooperation in the retail industry, thereby promoting the sustainable and healthy development of the Chinese luxury goods market.