This is a normal situation, how China is becoming the most important luxury consumer of the World, it does already surpassed Louis Vuitton’s Japanese sales, encounter 15% of those.
But the think that is amazing it’s the growth of luxury goods in China, which is 25% per year, not other category is doing better than it, not even education with 16% percentage.
And just in 3 years China will surpass Japan.
China is not buying theirs goods not only inside China but 55% of their operations are doing outside, this means they are traveling.
Also this new consumers who are going to buy luxury goods they are around their 39 years old as a media and they are not only women also men. And they like to show it.
The Chinese a new way of see luxury?
For 2020 China will account 20% of the Luxury Market demanded, and it going to increase the cap with other countries.
But being the number one, it has become an opportunity for companies like Louis Vuitton, Hermes & Burberry. They had understood and they are focus their strategy on those new Chinese middle class young consumers. Those people like to show they can afforded those products and that they can travel, as most of the time they bought them in a foreign country.
But this is interesting how a cultures can change the way we look at luxury. And really what does luxury means to Chinese before and today is different but this new approach it does affected the way they are look at it today.
And I believe it will always change. But I came out with an important point, luxury it would be for each of us to do things we don’t necessarily need, but that they are different and differentiate us from the others, exceptional.
