and Macau dropped by one-quarter (Bain, 2015) (data14: Luxury shopping destination in 2014, Lam and Gong, 2015) New tax policy: china government announced a new circular, Cai Guan Shui  No.18 (New Circular), that a raise of taxes on cross-border e-commerce retail imports would become effective from 8 April 2016. Trend: Overseas channels will stabilize (daigou will decline). Global pricing by leading brands and government efforts to localize consumption will spur domestic growth. Global pricing, will likely spread further to other brands. Interested in well-known brands
Brands: Louis Vuitton, Gucci, Dior, Burberry et al. Product category: watches, bags and suitcases, clothing, jewellery. Location (in mainland): concentrate on Beijing, Shanghai, Guangzhou, Chengdu, and Hangzhou. Ads in Social media platform. More than half of luxury consumers check product details and prices online. Trend: the rising middle class becomes more sophisticated and knowledgeable about luxury. The Chinese are increasingly exposed to luxury goods through the Internet, overseas travel, and first-hand experience. As a result, they have become more discerning. Others The age of consumer tend to be younger. Luxury service A growing number of Chinese luxury consumers are also splurging on spas and other wellness activities. Consumption is growing faster for such luxury services than for luxury goods: 20 percent of these consumers said they were spending more on experiences, only 13 percent on products.
- One '14
- Luxury good, LVMH, Luxury vehicle, luxury