China buys up half the world’s luxury goods

[haidian]

China buys up half the world’s luxury goods
PETER CAI FEBRUARY 03, 2015 2:15PM

Chinese buyers are responsible for 46 per cent of the global consumption of luxury goods, according to the Fortune Character Research Institute.

Total Chinese luxury goods consumption in 2014 was US$106 billion, up 4 per cent from the year before. However, consumption in Chinese domestic market declined 11 per cent to US$25 billion.

On the other hand, Chinese tourists spent a record US$81 billion outside of China. Between 2010 and 2014, the number of Chinese tourists going abroad more than doubled from 53 million to 117 million within four years.

No Cookies | dailytelegraph.com.au

 

[Hamartia Antidote]

Apple Ranks as China’s Most Desirable Luxury Brand - Digits - WSJ


I never considered Apple a luxury

 

[cnleio]

穷则思变,富则思淫！ Chinese didn't change anymore yet.

 

[TaiShang]

Overall spending on gifts by Chinese luxury consumers is down 5 percent year (2014) over year and down 30 percent over the past two years.

 

[haidian]

Apple Ranks as China’s Most Desirable Luxury Brand - Digits - WSJ


I never considered Apple a luxury

Me neither, those reports were made by foreign countries, so different countries may have different standards when they do the survey.

 

[TaiShang]

穷则思变,富则思淫！ Chinese didn't change anymore yet.

It is in fact changing. People are moving from lavish spending to quality spending. One result of this is growing culture tourism inside and outside China.

Me neither, those reports were made by foreign countries, so different countries may have different standards when they do the survey.

For me that brand is dull and sort of middle-age stuff. I like to have more exciting stuff like the younger Xiaomi

The fact that China's home-grown brands are capturing market and becoming top sellers indicate the general direction of China's spending culture.

 

[cnleio]

Apple Ranks as China’s Most Desirable Luxury Brand - Digits - WSJ


I never considered Apple a luxury

I bought MacBook Pro / Ipad Air / Iphone ... Apple never belong to Luxury, but DELL's Alienware is Luxury !

The big changes in my life, i found recent Chinese family start to drink more foreign wines ... god damn it, those 30~300RMB French / Italy / Spain / Australia Red Wine and 100~500RMB Scotland / U.S Whisky & Hennessy r becoming more popular for Chinese family.

 

[Hamartia Antidote]

I bought MacBook Pro / Ipad Air / Iphone ... Apple never belong to Luxury, but DELL's Alienware is Luxury !

My wife and I both have iPhones and we both have MacBooks and my kids have iPads. I never knew I was living in such luxury.

 

[TaiShang]

I bought MacBook Pro / Ipad Air / Iphone ... Apple never belong to Luxury, but DELL's Alienware is Luxury !

The big changes in my life, i found recent Chinese family start to drink more foreign wines ... god damn it, those 30~300RMB French / Italy / Spain / Australia Red Wine and 100~500RMB Scotland / U.S Whisky & Hennessy r becoming more popular for Chinese family.

That needs to change. Consumerism is good for domestic economy and import power is a critical power in times of crises. You can threaten other nation with sanctions on imports. That's power.

But this should not rule out the fact that domestic brands should always grab the lion's share.

 

[cnleio]

My wife and I both have iPhones and we both have MacBooks and my kids have iPads. I never knew I was living in such luxury.

Cheaper in U.S ... not cheap in China
1. a normal-config MacBook pro is about 7,000 RMB,
2. a Ipad Air is 2,800 RMB Ipad Air2 is 3,200 RMB,
3. a Iphone6 16G is 5,000 RMB, Iphone6 Plus is 5,800 RMB.

Those prise for a normal Chinese family, equal to a month salary ... if save money they still can afford them. For those prise 12,000~15,000 RMB like DELL's Alienware, it is a Luxury in China.


But those outdated Apple goods, like Iphone4S, Iphone5 only sell 1,000~2,500RMB in China market ... and i know where to buy 2,000~3,000RMB 2010 or 2011 version MacBook Pro/Air ... LOL !!! For those old Apple goods, everyone in China can afford them.

 

[TaiShang]

Cheaper in U.S ... not cheap in China
1. a normal-config MacBook pro is about 7,000 RMB,
2. a Ipad Air is 2,800 RMB Ipad Air2 is 3,200 RMB,
3. a Iphone6 16G is 5,000 RMB, Iphone6 Plus is 5,800 RMB.

Those prise for a normal Chinese family, equal to a month salary ... if save money they still can afford them. For those prise over 10,000RMB like DELL's Alienware, it is a Luxury in China.

That's true. Luxury is relative. depends on one's personal income. Few years back, I felt great about my HTC smartphone. Now I do not feel the same. I am eagerly waiting for Lenovo's next smartphone with a pen. Great for note taking.

Besides, in China the gov't puts heavy tax on luxury goods. This somehow makes them appear more luxurious.

When there is option available, Chinese customers opt for the domestic over the foreign. For example, during Spring Festival, China-made made productions made the top earning at the box office.

***

China Sees Holiday Spree at Box Office
2015-02-21 14:48:47 Editor: Wang Wei

Poster of Dragon Blade. [Photo: Juqingba.cn]

China's box office sales hit a record high with the daily earnings of 356 million yuan (57 million U.S. dollars) on Thursday, the first day of Spring Festival.

According to a report in The Beijing News on Saturday, the figure is a 43.6 percent up on last year and a new daily record.

Eight films screened on Thursday attracted audiences of over 9 million.

Even on Wednesday evening, traditionally devoted to family reunions, banquets at home and a grand TV gala, Chinese moviegoers still spent 21 million yuan in cinemas.

Costume action movie "Dragon Blade" starring Jackie Chan, John Cusack and Adrien Brody leads the box office charts with 32.6 percent of the total income. The Chinese Kungfu star is still highly bankable with Chinese audiences.

It was followed by fantasy adventure "Zhongkui: Snow Girl and the Dark Crystal" and Chow Yun-Fat's family comedy "The Man from Macao II."

The newspaper quoted Rao Shuguang, secretary general of China Film Association, as saying that the Spring Festival boom may partly due to the increased number of screens, now over 24,900.

 

[cnleio]

That needs to change. Consumerism is good for domestic economy and import power is a critical power in times of crises. You can threaten other nation with sanctions on imports. That's power.

But this should not rule out the fact that domestic brands should always grab the lion's share.

I don't know why, recent two years those foreign wines sell cheaper in China market, especially foreign Red Wine the cheapest only sell 30+RMB in China supermarket.

These France / Spain etc Red Wines sell cheaper in China.

Whisky price also cheap in China

Hennessy price also OKay, can afford it by noremal family

That's true. Luxury is relative. depends on one's personal income. Few years back, I felt great about my HTC smartphone. Now I do not feel the same. I am eagerly waiting for Lenovo's next smartphone with a pen. Great for note taking.

Besides, in China the gov't puts heavy tax on luxury goods. This somehow makes them appear more luxurious.

When there is option available, Chinese customers opt for the domestic over the foreign. For example, during Spring Festival, China-made made productions made the top earning at the box office.

I tell truth here, most young Chinese like to buy foreign good-quality goods, especially foreign luxury. So i said 穷则思变,富则思淫 ... our bad habit !!!

 

[Hamartia Antidote]

Cheaper in U.S ... not cheap in China
1. a normal-config MacBook pro is about 7,000 RMB,
2. a Ipad Air is 2,800 RMB Ipad Air2 is 3,200 RMB,
3. a Iphone6 16G is 5,000 RMB, Iphone6 Plus is 5,800 RMB.

Those prise for a normal Chinese family, equal to a month salary ... if save money they still can afford them. For those prise 12,000~15,000 RMB like DELL's Alienware, it is a Luxury in China.


But those outdated Apple goods, like Iphone4S, Iphone5 only sell 1,000~2,500RMB in China market ... and i know where to buy 2,000~3,000RMB 2010 or 2011 version MacBook Pro/Air ... LOL !!! For those old Apple goods, everyone in China can afford them.

Well your high taxes on certain imported goods is creating a fake luxury market. What people may perceive as out of reach is being equated as luxury.

You think Alienware is expensive now...it used to be far more back in the late '90s.

 

[cnleio]

Well your high taxes on certain imported goods is creating a fake luxury market. What people may perceive as out of reach is being equated as luxury.

You think Alienware is expensive now...it used to be far more back in the late '90s.

LOL ... China as the biggest developing nation, comapred with U.S the biggest developed nation we have a long time to go . It's good for China to protect our domestic production industry ... those real luxury is only toy for the rich, it's enough for normal Chinese family to enjoy good-quality & cheap goods, normal ppl doesn't really care how much price of a real luxury.

For example Apple ... 10 years ago Apple means unafford price for the Chinese family, until to now just several thousand RMB which most family can afford the price ... The changes of Apple price can stand for the achievement of China economy development and Chinese family becoming rich ! Im sure future Apple goods will be cheaper as same as in U.S.

 

[Viet]

LOL chinese brag and brag until banana fall from the trees.

I want to bet with chinese posters here: there is little difference in wealth accumulation between china and other developed countries such as america and germany.
- 1% of the population holds 30% of all the money, company shares, properties and other assets.
- 10% of the population hold 50%. 40% the rest.
- the poor 50% hold little to nothing.

I guess these luxury goods are bought mostly by the thin 5% layer of chinese population. the new rich tend to show off, have tendency to waste money, buying things they don´t need, just impressing people they don´t know.