Magazines Archives - 2008 June

... GIVING LUXURY RETAILERS A GLIMPSE OF HOW THEY CAN POSITION THEMSELVES IN THE COUNTRY’S RAPIDLY EXPANDING RETAIL SECTOR. BUT, BEWARE, CHINA’S FRAGMENTED RETAIL SCENE IS ALSO FULL OF CHALLENGES, THE STUDY WARNS.
JENNEE GRACE U RUBRICO REPORTS ...

STATUS seekers are the biggest market for luxury goods in China, while a segment of shoppers who acquire products based on an appreciation for workmanship is growing, said KPMG in
its study, China’s Luxury Consumers: Moving Up the Curve.

The study released last April also noted that the affluent Chinese would also spend significant amounts of cash to reward themselves as well as to set trends.

The 2008 report updated KPMG’s 2006 China study, Luxury Brands in China, which illustrated the extent to which the market’s middle class has embraced luxury brands, and their potential for growth in the country of 1.3 billion people.

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