Chinese Consumers Buy Nearly Half Of The World'S Luxury Goods

< p > China Luxury Market Research Institute wealth Research Institute shows that in 2013, the global luxury market reached a record total of 217 billion US dollars, with a year-round growth rate of 11%.

Among them, China's luxury goods market < a href= "//www.sjfzxm.com/news/index_c.asp" > local consumption < /a > US $28 billion, an increase of 3%, and overseas consumption has been further strengthened, reaching US $74 billion, that is, the total consumption of luxury goods in China is US $102 billion, which is equivalent to that of the Chinese people who buy 47% of the world's luxury goods.

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< p > research shows that 73% of Chinese consumers' a href= "//www.sjfzxm.com/news/index_c.asp" > luxury goods < /a > consumption occurs outside the country.

In recent years, the number of Chinese outbound has increased year by year, reaching 100 million in 2013.

Shopping is almost one of the main purposes of all Chinese tourists going abroad, especially luxury consumption.

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< p > the average consumption per capita of Chinese consumers is 5-10 times that of European and American consumers, 3-5 times that of consumers in Japan, the Middle East and other countries.

Unlike most consumers in Europe and the United States who buy and consume luxuries for themselves, business gifts are an obvious goal for Chinese consumers to buy and consume luxury goods, and the expenditure is stable between 20%-30%.

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Below P, Chinese consumers whose assets are less than 10 million yuan are the first choice for business, such as bags, incense products and tobacco and wine.

Assets of 10 million -5000 million, business gifts first choice watches, jewelry and bags.

When assets exceed 50 million, business gifts are selected as artworks, watches and jewelry.

It is worth mentioning that low assets consumers purchase the luxury goods themselves the highest proportion, they seldom buy for the purpose of maintaining value and increasing value, and occasionally buy one or two luxuries to improve their living standards.

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< p > research also shows that in 2013, China's < a href= "//www.sjfzxm.com/news/index_c.asp" > consumer > /a > the most valuable luxury goods in the eyes of the top three were watches, jewelry and artworks.

Consumers with below 10 million of assets believe that watches, leather goods and jewellery are more value protected; assets of 10 million -5000 are preferred jewellery; 50 million of assets are watches, jewelry and luxury cars.

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< p > for billionaires, the most valuable ones are artwork, watches and jewelry.

In terms of brand loyalty, 87% of luxury goods consumers in Europe and the United States have the habit of repurchasing the same luxury brand, while Chinese consumers only have 26%.

Even the top tycoons whose assets are more than 500 million yuan have the highest loyalty to luxury brand 34%.

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< p > the 2013 "China luxury report" is a survey of 4650 high asset holders in the Chinese market, covering Beijing, Shanghai, Liaoning, Hubei, Guangdong, Sichuan and the Xinjiang Uygur Autonomous Region.

In the survey group, the number of consumers with assets below 10 million yuan (general assets group), assets of 10 million -5000 yuan (high assets group) and assets above 50 million yuan (super high assets group) basically showed a uniform distribution of about 1:2:3.

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