Chinese people consumed $ 8.5 billion luxury goods oversea, an increase of 18%

By | April 6, 2013

euroshopping2

More and more Chinese consumers are shopping oversea

According to the “2013 Chinese New Year Chinese overseas luxury consumption statistics report” released by the World Luxury Association earlier this year, during the Spring Festival month of 2013, the overseas consumption of luxury goods market amounted to $ 16.2 billion, of which the Chinese people consumed $ 8.5 billion oversea, an increase of 18% compared to last year’s $ 7.2 billion. 
euroshopping
From January 20, 2013 to February 20, 2013, the total consumption of the Chinese people in the oversea luxury goods reached $ 8.5 billion, of which 51% (approximately $ 4.335 billion) was spent in Europe. Chinese people’s consumption accounted for 65% of the total sales of European  luxury goods market during the same period, the main consumption areas concentrated in four countries of France, Italy, United Kingdom, Switzerland. The main consumer targets are watches, leather goods, fashion, cosmetics, perfume, of which watch consumers accounted for a larger proportion. In addition, Hong Kong, Macao and Taiwan are also key areas of consumption of the Chinese consumers. During the Spring Festival month of 2013 Chinese mainlanders’ consumption in the luxury goods in Hong Kong, Macao and Taiwan was approximately $ 1.955 billion, accounting for 87% of the total sales of luxury goods over the same period in Hong Kong, Macao and Taiwan.

euroshopping3

The report also concluded that price was the main reason behind people shopping oversea:

93% of respondents believe that the prices of luxury goods purchased oversea is lower than in mainland of China; 
85% of respondents believed that purchasing luxury goods oversea has more selection and choices; 
65% of respondents believe that luxury goods brought abroad will be more genuine.

Leave a Reply

Your email address will not be published.