Data from WLA (World Luxury Association) show that it costed 6billion USD on high-end leather bags,cars,clothing,accessories and cosmetic in China every year.Experts estimited that the luxury market in China would be 14.6billion USD within 5 years, become the biggest luxury trade and consumption center in the world.
With the approaching of 2010 Shanghai World Expo, many luxury brands have prepared to open its flagship store or make a refreshed decoration for its store in Shanghai, such as LV,SWATCH,and Hermes.
Who consumed the luxury goods in China?
A survey shows that the richest mostly live in the coastal city: Shanghai, Beijing, Guangzhou and Shenzhen.The average income of the richest family in China is 80thousand USD.The richest family in China refers to those its average family annual income is over 36500USD.
The survey shows the average of the richest in China is 41, most of them are men.The average age is much younger than American and Japanese counterparts.They are in possission of 3cars,4.4watches,loving collection of jeweries, ancient calligraphy and painting and modern artworks. 1/6 of them planned to buy private airplane, half of them planned to buy yacht.
