A pet bed sells 70,000 GUCCI, LV, Hermes ... luxury brands have grabbed the beach "its economy"

Recently, Gucci launched the first "Pet Lifetime Series" product, sweeping the social media circle with the screen, causing fans to sigh: "I did not expect that one day Gucci would enter the pet market."

"Finally received it! As soon as I heard the news, I booked it immediately." On the short video platform, some bloggers showed out the Gucci pet bowl purchased for their kittens, and quickly harvested more than 4,000 likes, and nearly 2,000 people evaluated. There are also bloggers rushing to the GUCCI physical store with their love dogs "thousands of miles" in order to try on and buy pet costumes.

Image source: GUCCI official website screenshot

Not only GUCCI, in recent years, major luxury brands such as LV, Tiffany, Celine (Silin), Moncler (Logo), Hermes, and Hermes have launched pet supplies. How does a luxury brand pricing for this niche market? "Daily Economic News" reporter noticed that the pet -breeding world has blown luxury waves, but the luxury goods that show their pets at the time of eye -catching also triggered "whether it is necessary to buy luxury goods for cats and dogs". dispute.

As far as the Chinese market is concerned, how big is the "economic" cake of luxury goods?

If you buy a pet bed 70,000, you can’t return it if you buy it

At the end of June this year, GUCCI launched the first pet series of products, and released more than 70 pieces in one breath, as small as clothing, traction rope, collar, and large pets such as beds.

"GUCCI World vividly interprets the brand's animal inspiration world through a series of new home pet accessories rich in the design dimension and aesthetic connotation of the brand. Each design faithfully interprets the happiness and companionship contained in the unique relationship between pets and owners. "According to the official website of Gucci, a red and green stripe with a pet cotton T -shirt with Gucci Logo is priced at 2100 yuan; a pink -blue canvas pet GG jacket is priced at 6,900 yuan; The set price is 36,850 yuan ... Every reporter sees that among the pet products released by Gucci, the highest price is pet bed.

Image source: GUCCI official website screenshot

The GUCCI Geometric G pet bed has 5 flowers, which are decorated with the brand classic Radura printing, Herbarium printing, and geometric printing. Depending on the color of the color, it is divided into two materials: cotton and linen, with a price of 70,000 yuan. Every time a reporter experience placing an order, it is seen that the high Gucci pet bed is not available at any time. After the order is placed, you need to wait 15 to 16 weeks (more than 3 and a half months) to receive the goods. No return and exchange. "

Image source: GUCCI official website screenshot

"Luxury products are in homogeneous competition, and profits will become lower and lower." On July 12, Zhang Yi, the founder and CEO of Ai Media Consulting Group, said in an interview with a reporter. GUCCI, which costs 70,000 yuan and takes a high -level route, has a differentiated play.

Although GUCCI's concept of creating pet products is good, the expensive price has dismissed many consumers. "I really dare not imagine that if the cat and dog are excited, I inadvertently urinate in these 5 digits of bed ..." Some pet owners told each reporter that small -piece products such as traction ropes and collar are in the same way. Within the scope of consideration, it will not spend tens of thousands of yuan custom products.

Judging from the price of pet products launched by many luxury brands, Gucci can only be regarded as satisfactory.

In May this year, Celine launched the first pet supplies series, including toys, collar, traction rope, pet bowl, etc., priced from more than 2,000 yuan to 14,000 yuan; It ranges from Yu Yuan to 8700 yuan; a pet down jacket launched by Moncler started more than 2,000 yuan. Tens of thousands of luxury pet products are not a few. The price of pet bags for LV and Hermes is about 28,000 yuan and nearly 22,000 yuan, respectively.

Pet luxury goods are impulsive consumption difficult to form continuous purchasing power

Back to the pet strategy of luxury goods, Goyard (elegant) is regarded as the earliest big name in the industry. Pet products were launched as early as the end of the 19th century.

At that time, the slogan "The most fashionable dogs wore Goyard" refreshed the public's awareness of luxury goods, and also unveiled the corner of pet fashion. Since then, major luxury brands such as LV, Prada, and Fendi have successively launched the "Pet Plan". Especially in the past two months, Celine and Gucci have joined successively, which has completely ignited the enthusiasm of luxury goods to create pet products.

"Luxury brands are already vigorously grabbing the beach's" its economy 'market. "Zhang Yi told each reporter that the pet market is developing rapidly now. "We investigate and develop that most of the pets are single people, and they are accompanied by pets. At the spiritual level, for many families, cats and dogs are no longer animals, but they have become family members."

China ’s statistical yearbook in 2021 shows that my country’ s “one -person household” (that is, a group of lonely) families with more than 125 million, accounting for more than 25%. The growth of one person also brought a fire "pet economy".

In recent years, Chinese pets have increased year by year. The "White Paper in China's Pet Industry in 2021" shows that the number of people raised in my country in 2021 reached 68.44 million, of which nearly half were the pet owners after 1990. The huge pet people have helped my country's pet market in the scale of explosive growth. The "2022-2023 China Pet Industry Development and Consumer Research Research Report" shows that the scale of China's pet economy industry in 2022 will increase by 25.2%year-on-year to 493.6 billion yuan, and the market size is expected to reach 811.4 billion yuan in 2025. Photo source: "2022-2023 China Pet Industry Development and Consumer Research Research Report" screenshot

The capital market is also paying more attention to the pet industry track, starting the IPO racing. In May of this year, the source of the source of the Yuanfei pet IPO was approved. Tianyuan Pets, Fu Bei Pets, and Guobao Pets were in a queue in A shares; the Rui faction pet will go to Hong Kong this year to go public. In the A -share market, the Wind Pet Industry Index (8841147.WI) from the beginning of the year (July 12), a decline of 18.08%, and P / E ratio TTM 52.87. The Index has 7 weights such as Zhongya (SZ002891, a stock price of 24.65 yuan, a market value of 7.25 billion yuan), and Petty (SZ300673, shares of 16.97 yuan, and a market value of 4.3 billion yuan), with a total market value of 61.56 billion yuan.

In Zhang Yi's view, the hotness of the pet market is obvious to all, and the luxury brand is a pile of the Pet Pet market, on the one hand, it is to notice the personalized expression of the pet owner. user. "On the other hand, the post -90s are particularly valued by luxury goods. This group is basically the only child. The family life is not high, has consumption capacity, and is willing to make a lot of expenditures for pets."

Although pet luxury has become a trend and trend, Zhang Yi admits to each reporter: "This is impulsive and emotional consumption, it is difficult to form continuous purchasing power."

Daily Economic News

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