Wednesday, May 18, 2011

Chinese luxury consumers opt for French products

    The luxury Lifestyle blog (the home of luxury Lifestyle) presents Chinese luxury consumers opt for French products.

    French labels are the most sought-after luxury products for Chinese shoppers as a booming economy creates a growing legion of newly affluent consumers.

    French brands are the top choice for mainland buyers, followed by those from Italy and Hong Kong, consultants KPMG said in their report “Luxury experiences in China”, based on a survey of 1,200 consumers from 24 cities.

    “China continues its march towards becoming the largest luxury market in the world,” said Nick Debnam, the firm’s head of consumer markets for Asia Pacific.

    “Year-on-year as this market becomes more crowded, it is harder for luxury brands to enter this space. We also see rising brand recognition,” he added.

    According to the Hurun Rich List, the Chinese equivalent of the Forbes or Sunday Times rich lists, there are now 875,000 Chinese people worth over a million US dollars, and almost 200 of these are billionaires.

    The KPMG study found that they are most fond of French cosmetics and perfumes, clothing and bags, Italian footwear and Swiss watches, while they opt for domestic brands when it comes to alcohol.

    The survey also found that about 70 percent of respondents search online for information on luxury brands at least once a month.

    “Luxury companies need to think about how their strategies reach key online influencers,” Debnam said.

    The 1,200 Chinese consumers polled in the survey were aged between 20 and 45, and earned at least 5,500 yuan ($850) a month.

    Source: AFPrelaxnews

    Similar Posts:

    Moscow art museum honors Dior
    Aldehyde Perfume – Secret Scent for Today
    Vincent Cassel in YSL’s new La Nuit de l’Homme ad
    Keira Knightley’s full ‘Mademoiselle’ fragrance ad
    Gucci and Chanel win at Italian fragrance awards
    Baccarat for Guerlain 

    Save and share Chinese luxury consumers opt for French products

    To share this post with your family and friends? Click the button below to send them an email or save this to your favorite social network.Source URL:
    Visit katierae band geek sclo the sandice cream for Daily Updated Hairstyles Collection

No comments:

Post a Comment

Blog Archive