The Mckinsey Report 2015, China Will Become The Largest Consumer Of Luxury Goods

McKinsey recently released, "the rise of China's luxury market," research report that China's luxury market there has been rapid growth of the total market and consumers more rational double change. The report predicts that by 2015, China will become the world's largest consumer of luxury goods, accounting for more than 20 percent of global luxury goods market. This is the seventh consecutive year, McKinsey released similar reports.

McKinsey study reports that 13 million upper middle class Chinese families (annual income of 10 million -20 million) is the largest luxury goods business growth opportunities sources. They have accounted for about 12% market share, the class number is growing rapidly. By 2015, there are 76 million households into the income range, accounting for 22% of the share of luxury shopping.

Public Affairs Director Wang Leizhi McKinsey Greater China, said China used to meet the personal habits of luxury consumers, the proportion is growing rapidly, from 25 percent in 2008 rose to 36 percent in 2010. And the more flowers the more last year, more than 30 percent of Chinese consumption of more expensive luxury brands, while only 6% of people in Japan do.

Large luxury

However, he also believes that the Chinese people become more sophisticated luxury consumer attitudes, buying behavior is more rational. In 2008 an average of every five luxury consumers, only 2 people know the price of luxury mainland than in Hong Kong and other places at least 20% higher by 2010, 66% of consumers are aware of such price differences exist .

E-commerce has also made ​​waves in the luxury market, Internet marketing has become a luxury buyer in addition to sales outside the shop, the second largest access to information (respectively 44% and 21%). McKinsey Global Managing Partner An Hongyu that the big luxury is quietly adjust its strategy, many luxury brands to test in the field of e-commerce initiatives, such as Armani to launch his own brand of a deputy's online shopping business.