Luxury Goods Report: Luxury Consumption For Chinese Consumers Is 76% Offshore

The Institute of wealth studies, a luxury research and consultancy agency, recently released

It shows that Chinese consumers spend 76% of their luxury goods overseas.

The wealth and quality research institute showed that the consumption of Chinese consumers in 2014 decreased significantly, to 25 billion US dollars, down 11% from the same period last year. The proportion of China's luxury goods market in the global luxury market dropped from 13% in 2013 to 11% in 2014.

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There was a significant increase in online sales, but no change in the overall trend of China's luxury market in 2014. Overseas consumption of Chinese consumers was further strengthened, and consumption in 2014 reached 81 billion US dollars, an increase of more than 9% over the same period last year.

"This shows that 76% of Chinese consumers' consumption of luxury goods occurred outside China in 2014.

The outflow of consumption has reached a very serious level.

Zhou Ting, President of the Institute of wealth quality, said.

Although the global luxury market is still facing many pressures in 2014, the total volume of the global luxury market is still at a record high of 232 billion US dollars, and its annual growth rate is expected to reach 7%.

The growth is mainly due to the development of high-end niche brands, especially the rapid development of customized brands, while the relative market share of traditional luxury brands has declined significantly.

According to statistics, Chinese consumers' consumption of global luxury goods reached 106 billion US dollars, an increase of 4% over the same period last year. This shows that the Chinese bought 46% of the world's luxury goods in 2014. Although the consumption of luxury goods in China has declined slightly, due to the revival of domestic consumption in Europe and America and the rise of consumers in emerging countries, Chinese consumers are still the undisputed largest buyers of the global luxury goods market.

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In January 31st, 65 merchants from the sole street of the original river bridge market in Wenzhou City, through the balloting, selected the shops of New River's shoe sole Plaza and signed a collective contract. The business is expected to be settled after the Spring Festival.

The market will also organize the selection of "special shoe material area" and "ornament button hardware accessories zone".

New River shoe sole Plaza is a shop made by Wenzhou leather shoe material market on the basis of New River Tong Qiao leather shoes Plaza.

The square is divided into two layers, one layer has 65 shops, and the two floor is the dining hall.

Wenzhou leather shoe market related responsible person said, Lao he Tong Bridge shoe Street merchants are about to face the demolition and merger, so tailored for businesses to build shops, so as to collectively move into.

Xiao Ling Zhou

Yesterday, 65 merchants in the market on the sole street of the original river bridge market selected the shops of New River's shoe sole Plaza through balloting, and signed a collective contract. The business is expected to be settled after the Spring Festival.

The market will also organize the selection of "special shoe material area" and "ornament button hardware accessories zone".

New River shoe sole Plaza is a shop made by Wenzhou leather shoe material market on the basis of New River Tong Qiao leather shoes Plaza.

The square is divided into two layers, one layer has 65 shops, and the two floor is the dining hall.

Wenzhou leather shoe market related responsible person said, Lao he Tong Bridge shoe Street merchants are about to face the demolition and merger, so tailored for businesses to build shops, so as to collectively move into.