Secondhand Luxury Product Sales Booming in China

Sales of luxury goods continue to rise in China and now even secondhand luxury products are gaining in popularity in big cities like Shanghai and Beijing. A number of outlets² specialized³ in selling secondhand luxury brands are capitalizing upon this golden opportunity in China.

Let's find out more with our reporter Liu Min.

 
The demand for secondhand luxury products is booming in China. Manager Liu Lian from the Milan Station Shop, a secondhand luxury product outlet¹ based in Shanghai says that they have plenty of loyal customers visiting the store everyday.

"Years ago, our business was just ok, but starting from 2008, the annual trading volume has increased by 15 to 20 percent on average every year."

In 2010, the overall business income of Milan Station Chains reached 730 million Hong Kong Dollars and the net profit made on the Chinese mainland exceeded 32 percent.

Such promising⁴ business has lured⁵ some international chains to open stores in China. Japan's Brand Off, the biggest outlet chain specializing in selling secondhand luxury products is one of them. This September, the company opened its first franchise⁶ store in Shanghai. The store manager Takayuki Shimata says the company finally decided⁷ to explore the Chinese mainland market after a series of research.

"First, we invested in establishing six chain stores in Hong Kong, which turned out to be a great success. Since we already had franchise stores in Japan, Hong Kong and Taiwan, we started to think about where we should continue with our business expansion. We've decided that Shanghai is the best choice."

In order to maintain the store's reputation, the managers have to maintain a keen eye when buying secondhand products since no one want to take the risk of purchasing fake goods which would lead to huge loss. A consistent appraisal⁸ system with high level of appraisers is critical to the entire business.

Currently, 200 million people in China are considered as the existing and potential consumers of luxury products. But the huge market is short of talented individuals specialized in luxury business management or capable of high level appraisal, especially when it comes to secondhand products. Now a common appraiser⁹ can make an annual income of at least 150 thousand yuan in Shanghai.

In recent years, majors in luxury product appraisal have gained popularity in both domestic and overseas universities.

Currently, the People's University of China and Shanghai University offer bachelor and master degree courses on luxury product appraisal.

An anonymous¹⁰ student says that even though the tuition fee is very high, many students are still willing to take the courses in order to pursue such a career.

"We spend the first year studying at the campus of Shanghai University, and then we we'll go to the campus in Paris to continue the program. We'd spend one year learning the local language, and then the second year we will take classes related to the major. The overall expense is nine to ten thousand Euros per year."

But professor Xia Zhengwei, specialized in Luxury Brand Management, says such teaching program in China is far from mature.

"We have to consider introducing more professional teachers in this field. Plus, we need to work more on how to combine the study program with the real market demand."

Market insiders have also indicated that the industry also requires an independent third party which would process the professional appraisals¹¹ in order to provide a more convincing and secure trading environment for luxury products, which would benefit both consumers and the secondhand retailers¹².

For CRI, I'm Liu Min.

1 outlet   

n.出口/路；销路；批发商店；通风口；发泄

参考例句：

• The outlet of a water pipe was blocked.水管的出水口堵住了。
• Running is a good outlet for his energy.跑步是他发泄过剩精力的好方法。

2 outlets   

n.出口( outlet的名词复数 )；经销店；插座；廉价经销店

参考例句：

• The dumping of foreign cotton blocked outlets for locally grown cotton. 外国棉花的倾销阻滞了当地生产的棉花的销路。 来自《简明英汉词典》
• They must find outlets for their products. 他们必须为自己的产品寻找出路。 来自《现代汉英综合大词典》

3 specialized   

adj.专门的，专业化的

参考例句：

• There are many specialized agencies in the United Nations.联合国有许多专门机构。
• These tools are very specialized.这些是专用工具。

4 promising   

adj.有希望的，有前途的

参考例句：

• The results of the experiments are very promising.实验的结果充满了希望。
• We're trying to bring along one or two promising young swimmers.我们正设法培养出一两名有前途的年轻游泳选手。

5 lured   

吸引，引诱（lure的过去式与过去分词形式）

参考例句：

• The child was lured into a car but managed to escape. 那小孩被诱骗上了车，但又设法逃掉了。
• Lured by the lust of gold,the pioneers pushed onward. 开拓者在黄金的诱惑下，继续奋力向前。

6 franchise   

n.特许，特权，专营权，特许权

参考例句：

• Catering in the schools is run on a franchise basis.学校餐饮服务以特许权经营。
• The United States granted the franchise to women in 1920.美国于1920年给妇女以参政权。

7 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

8 appraisal   

n.对…作出的评价；评价，鉴定，评估

参考例句：

• What's your appraisal of the situation?你对局势是如何评估的？
• We need to make a proper appraisal of his work.对于他的工作我们需要做出适当的评价。

9 appraiser   

n.评价者，鉴定者，估价官

参考例句：

• The certification is invalid without the signature of appraiser, checker and approver. 鉴定书无主检、审核、批准签字无效。 来自互联网
• The "quasi-balance" appraiser is the people and the historical development. “准平衡”的评判者是人民大众和历史发展。 来自互联网

10 anonymous   

adj.无名的；匿名的；无特色的

参考例句：

• Sending anonymous letters is a cowardly act.寄匿名信是懦夫的行为。
• The author wishes to remain anonymous.作者希望姓名不公开。

11 appraisals   

估计，估量，评价( appraisal的名词复数 )

参考例句：

• He had read many detailed critical appraisals of her work. 他读了许多详细评论她的作品的文章。
• The English themselves are somewhat insular in their literary appraisals. 英国人评价自己的文学，也不免有偏狭处。

12 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。