Luxury Consumption Is Still Active In China

According to British media, the latest Chinese luxury product report released in 2015 shows that although some global luxury brands are weak in the Chinese mainland market, the overall consumption vitality of the luxury goods market remains the same, and consumers tend to buy luxury goods and services for themselves and their families instead of past gifts. Tourism has become the number one luxury consumer category.

According to reports, Rhodes public relations and Ipsos recently released the joint report.

The report points out that the overwhelming majority of consumers' consumer confidence and willingness to consume are still rising. They expect that the investment in luxury consumption will be at least flat next year, and some will continue to grow.

In this regard, Simon Tye, executive director of Ipsos group, said, "we see that consumers in the mainland, especially in the first tier cities, are still very strong in demand for luxury goods, so we expect the overall dynamics of the Chinese market to maintain the current development trend."

It is reported that the survey sample from 1933 consumers in mainland China and Hongkong, mainland respondents average annual household income of about 775 thousand yuan, Hongkong respondents average annual household income of HK $983 thousand.

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Look, Chinese consumers are more inclined to buy luxury goods and services for themselves and their families. Tourism has become the number one luxury consumer category.

50% mainland consumers and 38% of Hongkong consumers said they plan to invest more in tourism.

On the main consumption categories of outbound travel, the mainland and

The choice of consumers is quite different. Mainland consumers are mainly shopping, while Hongkong consumers are mainly catering, entertainment, gambling and so on.

In overseas consumption,

It has become one of the main luxury sales channels for consumers in mainland China and Hongkong.

Over the past year, more than 50% of mainland respondents have been duty-free shops, and more than 80% of consumers are dissatisfied with domestic luxury retailers' services.

When shopping overseas, they expect high quality services and more choices.

Rhodes, vice president of Shanghai public relations, said that with the increase of consumers' outbound travel and the consumption of extravagant extravagant goods, luxury brands in China should think about how to maintain the brand loyalty established in China.

Bain consulting recently released a report that the growth of the global luxury market next year will be basically the same as 2014. The US and Japan are the biggest driving force.

The luxury goods industry has been on a downward trend since 2011, in part because of weak demand in China and weakness in the European economy.

The report predicts that in the current exchange rate, China's luxury spending will grow by only 1% next year.