According to the forecast of consulting firm The Boston Consulting Group /BCG /, in the next 5-7 years, China will become the world”s largest market for luxury goods.
According to the report of BCG, the number of boutiques selling luxury goods in the Chinese cities of Shanghai and Beijing is equal to their number in New York and Chicago. Many world famous brands have opened their retail outlets not only in Shanghai and Beijing, but also in other cities in China, more than half of which were discovered in the past three years.
As predicted BCG, by 2015 the per capita disposable income of China”s population will be at least two times more than today. China will account for 29 percent of the world market for luxury goods.
According to a survey conducted in 2009, named among the 2550 Chinese firm, leading consumers of luxury goods were people aged 25-35 years. At the same time in western countries, this age range - 40 years and above.
“Chinese consumers are still unfamiliar with international brands of luxury goods and in the process of finding suitable brands for themselves. This means that the Chinese market there are great chances for the different brands,” - said the director of BCG offices in China, Lu Huang.
Lu Huang recalled that in Shanghai and Beijing, 70 percent of respondents prefer to buy luxury items during TourService. Currently, consumers in inland areas of China account for half of the proceeds from the sale of luxury goods in Hong Kong. The cost of some Chinese on luxury items during TourService in Hong Kong were higher than the total cost in your own town for a whole year.
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