The development trend of Chinese luxury brands

First, With China's rapid economic development, the substantial growth in income levels, the rich people in China's rapidly emerging, China is gradually becoming a new force of the luxury consumer market, China will be the most potential of the luxury consumer. World Luxury Association data show that the scale of China's luxury market in 2007 reached 80 billion yuan, accounting for the global market share of 18 percent, is the world's third largest consumer of luxury goods, after the United States and Japan. As of October 2008, the consumption of luxury goods in China than in 2007 increasing the total spending of 8 percent to 10 percent, to $ 8.6 billion, because of the economic crisis, Japan and North America, luxury spending, the sharp drop to 35 percent, data show that China has become the second largest consumer of luxury goods. Luxury in a few short years, the rapid growth in China's vast market and spread the demand for luxury goods is far more than economic theory to measure.  

 Second, the Chinese luxury goods consumption status
   (A) consumption of younger and younger
   (B) consumer focus in the foreign brands like burberry uk, China has almost no independent brands to compete
   (C) China is still in the growth of luxury consumption in the early and rapid growth
   (D) The consumer locations, mostly by large shopping malls and tourism to achieve
  
 Third, the Chinese luxury development trend
   U.S. media said that the financial tsunami, global luxury trade downturn, luxury spending, the sharp drop in Japan and North America 35%, the major brands have cut prices to save themselves, but the Chinese market has bucked the market trend, to maintain a strong growth of 22% . Strong trend of the Chinese market luxury goods trade, almost did not suffer the impact of the global economic crisis, from luxury followers afraid of the cold wave continues to grow can be seen