WeChat and mobile eCommerce is the prevalence in China. An inevitable truth is that younger generations are more likely to purchase their first luxury goods online rather than visiting offline stores. As predicted by different reports, luxury sector is facing a negative growth of the traditional offline business while e-commerce session will account for 25% …
Chinese shoppers have already become the largest group of luxury shoppers in the world since 2012, now accounting for 32% of global revenue for luxury retailers. Here is another fact: around two-thirds of luxury products bought by Chinese (and often made in China) are purchased outside the country! Go West, Chinese Luxury Shoppers Chinese …
REASON 1 . CHINA’S E-LUXURY MARKET HAS PROVED ITS GROWTH POTENTIAL The Chinese e-luxury industry has already shown great growth potential. The market has exploded since 2011, with growth rate continuing to increase, registering 71% growth to RMB 18.9 billion in 2012. Given the growing acceptance of consumers and brands, there is an unprecedented opportunity …
China became the world’s largest consumer of luxury goods in 2012. Likewise, the nation will surpass the US to become the number one eCommerce market by market size later this year.
While many luxury brands in China have been hesitant about diving headlong into the country’s e-commerce market due to concerns over infrastructure, quality, and distribution issues, a new report argues that companies who aren’t getting into the market now are missing out on a massive opportunity.
Like Japan 20 years ago, the consumption on luxury goods in China now is skyrocketing! Not only those super-rich, but also many common people are ravenous for luxury brands, especially western brands. eCommerce for luxury eCommerce is booming in China and offers new opportunities for luxury industry key players. Chinese consumers are more actives online …