{"id":249,"date":"2021-11-04T15:38:43","date_gmt":"2021-11-04T07:38:43","guid":{"rendered":"https:\/\/www.ftpol.com\/en\/?p=249"},"modified":"2021-11-04T15:38:43","modified_gmt":"2021-11-04T07:38:43","slug":"fhh%ef%bc%9aall-eyes-on-hainan-china","status":"publish","type":"post","link":"https:\/\/www.ftpol.com\/en\/fhh%ef%bc%9aall-eyes-on-hainan-china.html","title":{"rendered":"FHH\uff1aAll eyes on Hainan, China"},"content":{"rendered":"\n

Since October 1st and until end December, Watches and Wonders has taken up residence in Sanya, in the island province of Hainan. This \u201cChinese Hawaii\u201d is the subject of a recent report by McKinsey. At stake: a $40 billion market.
\u81ea 10 \u6708 1 \u65e5\u81f3 12 \u6708\u5e95\uff0cWatches and Wonders\u8868\u5c55\u5df2\u5728\u6d77\u5357\u7701\u4e09\u4e9a\u843d\u6237\u3002\u8fd9\u4e2a\u201c\u4e2d\u56fd\u590f\u5a01\u5937\u201d\u662f\u9ea6\u80af\u9521\u6700\u8fd1\u4e00\u4efd\u62a5\u544a\u7684\u4e3b\u9898\u3002\u6210\u8d25\u6538\u5173\uff1a\u4e00\u4e2a 400 \u4ebf\u7f8e\u5143\u7684\u5e02\u573a\u3002<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

While the Chinese property developer Evergrande labours under a colossal $260 billion debt, the island of Hainan carries on oblivious<\/strong>. Month after month, this island and southernmost province confirms its status as China\u2019s new luxury hotspot. Official figures in the wake of Golden Week – seven days of holiday to celebrate National Day which this year ran from October 1st to 7th \u2014 speak for themselves. <\/p>\n\n\n\n

\u5f53\u4e2d\u56fd\u623f\u5730\u4ea7\u5f00\u53d1\u5546\u6052\u5927\u80cc\u8d1f\u7740 2600 \u4ebf\u7f8e\u5143\u7684\u5de8\u989d\u503a\u52a1\u65f6\uff0c\u6d77\u5357\u5c9b\u5374\u6beb\u65e0\u5f71\u54cd\u3002\u6708\u590d\u4e00\u6708\uff0c\u8fd9\u4e2a\u5c9b\u5c7f\u548c\u6700\u5357\u7aef\u7684\u7701\u4efd\u8bc1\u5b9e\u4e86\u5176\u4f5c\u4e3a\u4e2d\u56fd\u65b0\u7684\u5962\u4f88\u54c1\u70ed\u70b9\u7684\u5730\u4f4d\u3002\u9ec4\u91d1\u5468\u4e4b\u540e\u7684\u5b98\u65b9\u6570\u636e\u2014\u2014\u4eca\u5e74 10 \u6708 1 \u65e5\u81f3 7 \u65e5\u4e3a\u5e86\u795d\u56fd\u5e86\u8282\u7684 7 \u5929\u5047\u671f\u2014\u2014\u4e0d\u8a00\u81ea\u660e\u3002<\/p>\n\n\n\n

oblivious\uff1a\u672a\u6ce8\u610f\uff0c\u672a\u5bdf\u89c9<\/p>\n\n\n\n

Whereas tourism revenue generated by the 515 million trips made within the country amounted to \u201cjust\u201d $60 billion, down 4.7% on 2020, sales registered by Hainan\u2019s nine duty-free shopping malls totalled $252 million, leaping 75% on 2020 and 359% on 2019. The immense popularity of this duty-free paradise for luxury shopping is reason enough for Watches and Wonders to host its second edition at the Sanya International Duty Free Shopping Complex, where 14 brands have their pavilions in marquees<\/strong> opposite the main entrance, from October 1st to December 31st.<\/p>\n\n\n\n

\u5168\u56fd5.15\u4ebf\u4eba\u6b21\u65c5\u6e38\u4ea7\u751f\u7684\u65c5\u6e38\u6536\u5165\u201c\u4ec5\u201d600\u4ebf\u7f8e\u5143\uff0c\u6bd42020\u5e74\u4e0b\u964d4.7%\uff0c\u800c\u6d77\u5357\u4e5d\u5bb6\u514d\u7a0e\u8d2d\u7269\u4e2d\u5fc3\u7684\u9500\u552e\u989d\u4e3a2.52\u4ebf\u7f8e\u5143\uff0c\u6bd42020\u5e74\u589e\u957f75%\uff0c\u6bd42019\u5e74\u589e\u957f359%\u3002\u8fd9\u4e2a\u5962\u4f88\u54c1\u8d2d\u7269\u514d\u7a0e\u5929\u5802\u7684\u5de8\u5927\u4eba\u6c14\u8db3\u4ee5\u8ba9 Watches and Wonders \u5728\u4e09\u4e9a\u56fd\u9645\u514d\u7a0e\u8d2d\u7269\u4e2d\u5fc3\u4e3e\u529e\u7b2c\u4e8c\u5c4a\u5c55\u4f1a\uff0c 14 \u4e2a\u54c1\u724c\u5728\u6b63\u95e8\u5bf9\u9762\u7684\u5e10\u7bf7\u91cc\u5f00\u8bbe\u5c55\u5385\uff0c\u4ece10\u67081 \u65e5\u81f3 12 \u6708 31 \u65e5\u3002<\/p>\n\n\n\n

marquee\uff1a\u5e10\u7bf7<\/p>\n\n\n\n

Growth <\/strong>on the cards<\/strong>
\u65e2\u5b9a\u7684\u589e\u957f<\/strong><\/p>\n\n\n\n

There is nothing fortuitous<\/strong> about the stellar growth of this Chinese Hawaii, as the island is often called. Its transformation into a giant tropical shopping mall is the result of a government plan to make Hainan the biggest free trade port in the world, supported by a range of policies and incentives such as a reduction in tax rates and a relaxing of visa requirements. In addition, visitors are now allowed to spend up to $15,000 during their stay and can continue to purchase duty-free products online for six months after returning home. Better still, as from 2025 the entire island will be designated a duty-free zone, hence brands will no longer have to collaborate with duty-free licence holders.
\u8fd9\u4e2a\u7ecf\u5e38\u88ab\u79f0\u4e3a\u4e2d\u56fd\u590f\u5a01\u5937\u7684\u5c9b\u5c7f\uff0c\u60ca\u4eba\u589e\u957f\u5e76\u975e\u5076\u7136\u3002\u5b83\u8f6c\u53d8\u4e3a\u5de8\u5927\u7684\u70ed\u5e26\u8d2d\u7269\u4e2d\u5fc3\u662f\u653f\u5e9c\u8ba1\u5212\u5c06\u6d77\u5357\u5efa\u6210\u4e16\u754c\u4e0a\u6700\u5927\u7684\u81ea\u7531\u8d38\u6613\u6e2f\u7684\u7ed3\u679c\uff0c\u5e76\u5f97\u5230\u4e86\u4e00\u7cfb\u5217\u653f\u7b56\u548c\u6fc0\u52b1\u63aa\u65bd\u7684\u652f\u6301\uff0c\u4f8b\u5982\u964d\u4f4e\u7a0e\u7387\u548c\u653e\u5bbd\u7b7e\u8bc1\u8981\u6c42\u3002\u6b64\u5916\uff0c\u73b0\u5728\u5141\u8bb8\u6e38\u5ba2\u5728\u9017\u7559\u671f\u95f4\u6700\u591a\u6d88\u8d39 15,000 \u7f8e\u5143\uff0c\u5e76\u4e14\u53ef\u4ee5\u5728\u56de\u5bb6\u540e\u7684\u516d\u4e2a\u6708\u5185\u7ee7\u7eed\u5728\u7ebf\u8d2d\u4e70\u514d\u7a0e\u4ea7\u54c1\u3002\u66f4\u597d\u7684\u662f\uff0c\u4ece 2025 \u5e74\u8d77\uff0c\u6574\u4e2a\u5c9b\u5c7f\u5c06\u88ab\u6307\u5b9a\u4e3a\u514d\u7a0e\u533a\uff0c\u56e0\u6b64\u54c1\u724c\u5c06\u4e0d\u518d\u9700\u8981\u4e0e\u514d\u7a0e\u8bb8\u53ef\u8bc1\u6301\u6709\u4eba\u5408\u4f5c\u3002<\/p>\n\n\n\n

on the cards\uff1a\u5373\u5c06\u53d1\u751f\u7684<\/p>\n\n\n\n

fortuitous\uff1a\u5076\u7136\uff0c\u5de7\u5408<\/p>\n\n\n\n

The government\u2019s five-year plan estimates that Hainan\u2019s duty-free market will grow tenfold by 2025 to reach $46.4 billion.
\u653f\u5e9c\u7684\u4e94\u5e74\u8ba1\u5212\u9884\u8ba1\u5230 2025 \u5e74\uff0c\u6d77\u5357\u7684\u514d\u7a0e\u5e02\u573a\u5c06\u589e\u957f\u5341\u500d\uff0c\u8fbe\u5230 464 \u4ebf\u7f8e\u5143\u3002<\/p>\n\n\n\n

In the meantime, Hainan\u2019s growth is unlikely to slow. Chinese international air travel isn\u2019t expected to return to pre-Covid-19 levels for another two to three years, which leaves the island ideally placed to absorb Chinese tourism and the demand for luxury goods that goes with it. Already last year, Chinese visitors to the island spent twice as much \u2014 $4.3 billion \u2014 on duty-free as they did the previous year. The province\u2019s government expects this figure to exceed $9 billion in 2021. 
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At this rate, and according to the Hainan provincial government\u2019s five-year plan, the duty-free market will grow tenfold between now and 2025 to reach $46.4 billion. A survey by Bain & Co and Atlagamma reports that Chinese consumers accounted for 35% of the global luxury spend in 2019 yet only 11% of these purchases were made domestically. Within the next four years, this figure should be nearer to 30% with Hainan in the front line to benefit. A further relaxing of rules should provide an additional boost, combined with increased investment by brands and local developers who plan to double mall capacity over the coming four years. Price competitiveness is an additional factor, with products costing between 20% and 30% less than on the domestic market even before further discounts.
\u6309\u7167\u8fd9\u4e2a\u901f\u5ea6\uff0c\u6839\u636e\u6d77\u5357\u7701\u653f\u5e9c\u7684\u4e94\u5e74\u89c4\u5212\uff0c\u4ece\u73b0\u5728\u5230 2025 \u5e74\uff0c\u514d\u7a0e\u5e02\u573a\u5c06\u589e\u957f\u5341\u500d\uff0c\u8fbe\u5230 464 \u4ebf\u7f8e\u5143\u3002\u8d1d\u6069\u516c\u53f8\u548c Atlagamma \u7684\u4e00\u9879\u8c03\u67e5\u62a5\u544a\u79f0\uff0c2019 \u5e74\u4e2d\u56fd\u6d88\u8d39\u8005\u5360\u5168\u7403\u5962\u4f88\u54c1\u6d88\u8d39\u7684 35%\uff0c\u4f46\u5176\u4e2d\u53ea\u6709 11% \u662f\u5728\u56fd\u5185\u8d2d\u4e70\u7684\u3002\u672a\u6765\u56db\u5e74\uff0c\u8fd9\u4e2a\u6570\u5b57\u5e94\u8be5\u4f1a\u63a5\u8fd130%\uff0c\u6d77\u5357\u5728\u524d\u6cbf\u53d7\u76ca\u3002\u8fdb\u4e00\u6b65\u653e\u5bbd\u89c4\u5219\u5e94\u8be5\u4f1a\u63d0\u4f9b\u989d\u5916\u7684\u63a8\u52a8\u529b\uff0c\u518d\u52a0\u4e0a\u8ba1\u5212\u5728\u672a\u6765\u56db\u5e74\u5185\u5c06\u8d2d\u7269\u4e2d\u5fc3\u5bb9\u91cf\u589e\u52a0\u4e00\u500d\u7684\u54c1\u724c\u548c\u672c\u5730\u5f00\u53d1\u5546\u7684\u6295\u8d44\u589e\u52a0\u3002\u4ef7\u683c\u7ade\u4e89\u529b\u662f\u53e6\u4e00\u4e2a\u56e0\u7d20\uff0c\u5373\u4f7f\u5728\u8fdb\u4e00\u6b65\u6298\u6263\u4e4b\u524d\uff0c\u4ea7\u54c1\u7684\u6210\u672c\u4e5f\u6bd4\u56fd\u5185\u5e02\u573a\u4f4e 20% \u81f3 30%\u3002<\/p>\n\n\n\n

A word of warning
\u4e00\u53e5\u8b66\u544a<\/strong><\/p>\n\n\n\n

In its report on Hainan, \u201cthe new battleground for global luxury,\u201d McKinsey sets out three points which luxury brands tempted by the Hainan experience should bear in mind. Firstly, the duty-free model, which is optimised for volume sales at significantly discounted prices, can damage brand equity. Secondly, differences in pricing between Hainan and the mainland puts brands at risk of cannibalising<\/strong> their domestic business in China and eroding margins in the long term. <\/p>\n\n\n\n

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cannibalize\uff1a\u540c\u7c7b\u76f8\u98df<\/p>\n\n\n\n

Thirdly, the volume-based sales model also makes it harder for brands to build customer relationships. \u201cThe response of some luxury brands has been to actively limit their presence on the island or to refrain from opening a presence entirely,\u201d writes McKinsey. \u201cHowever, with Hainan growing fast to take an increasingly significant share of the Chinese luxury market, and slated to become a fully duty-free island province by 2025, it is imperative that luxury brands formulate a strategy to enter, operate, and scale in the market.\u201d
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It is imperative that luxury brands formulate a strategy to operate and scale in Hainan. – McKinsey
\u5962\u4f88\u54c1\u724c\u5728\u6d77\u5357\u5236\u5b9a\u7ecf\u8425\u548c\u89c4\u6a21\u6218\u7565\u52bf\u5728\u5fc5\u884c\u3002- \u9ea6\u80af\u9521<\/p>\n\n\n\n

Watches and Wonders is an excellent illustration as it gives visitors the opportunity to familiarise themselves with the different aspects of watchmaking excellence through demonstrations at the workbench. Other highlights include a deep-dive into the history of iconic watches, analyses of the latest market trends and explanations of complications, in addition to the many activations offered by the participating brands. A reminder that watchmaking is an entire world and not simply a question of price.
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Since October 1st and until end December, Watches and Wonders has taken up residence in Sanya<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/249"}],"collection":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/comments?post=249"}],"version-history":[{"count":1,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/249\/revisions"}],"predecessor-version":[{"id":251,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/posts\/249\/revisions\/251"}],"wp:attachment":[{"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/media?parent=249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/categories?post=249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ftpol.com\/en\/wp-json\/wp\/v2\/tags?post=249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}