Consumers, Culture, and the Marketplace-------------Luxury consumer market analysis

March 15, 2016

China, Beijing - one of the world's largest independent public relations firm Ruder Finn Asia's leading market research center accurate market research firm jointly issued the "2016 Report of the Chinese luxury goods," the seventh consecutive year for the Chinese mainland and Hong Kong luxury goods key industry trends to provide authoritative analysis and forecasting.

The survey report shows that Chinese mainland consumers remain consumer confidence is expected to continue to enhance Hong Kong are showing a downward trend again. 42% of consumers in China plan to increase various types of luxury goods spending; in Hong Kong, the proportion from 30% in 2015 to only 25%, indicating that Hong Kong consumers of luxury goods consumption attitude than more cautious last year.

As wealth increases, consumers are more open international perspective. In the Chinese mainland and Hong Kong, tourism is still the number one luxury consumer goods. 53% of consumers said that the continent over the next year plan to increase spending luxury tourism, the proportion of 50% compared with last year has increased, the release of a positive signal to the tourism industry in mainland China. It can be predicted that China will further boost the growth of foreign tourists luxury goods consumer market. However, Hong Kong luxury travel consumers willingness to spend again a downward trend, the ratio decreased by 5% over 2015.


At the same time, e-commerce continues to bring great opportunities for luxury brands, online purchase accounting mainland and Hong Kong consumers to buy 26% of the total and 20% of luxury goods.

In online purchases of luxury goods, accessories, makeup and beauty products are the most popular category, the official website of the brand of choice for consumers e-commerce channels. Consumers are not into the store experience, direct purchase online show greater confidence. The average number of times before buying patronize the store was 2 times compared to the Chinese mainland and Hong Kong's 2.3 times and 2.6 times decrease in 2015. Social media, word of mouth has become an important factor affecting public consumption, influence over stars, industry and opinion leaders.