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It is ironic that a country which still calls itself a socialist country (though qualified by “Chinese characteristics”) has turned into a voracious consumer of luxury goods. While rapid economic growth and swelling ranks of the rich are definitely fueling the market, there are also clear cultural and circumstantial factors which make the Chinese more attracted to luxury products than some other markets. The rapid expansion of the internet and its empowering influence is acting as another important catalyst for the luxury market in China. Internet increases the exposure to luxury brands and extends their reach to smaller tier cities, where very few retailers have distribution.
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“Ode to Joy” – Chinese “Pride and Prejudice” with 13 Billion Online Views. (2016, May 18). Retrieved from cnspoon.com: https://cnspoon.com/2016/05/18/ode-to-joy/
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BCG: Chinese HNWIs assets to double by 2021. (2017, May 8). Retrieved from fundselectorasia.com: https://fundselectorasia.com/bcg-chinese-hnwis-assets-double-2021/
Buchwald, B. (2015, July 7). Eight Surprising Facts About the Chinese Luxury Consumer. Retrieved from forbes.com: https://www.forbes.com/sites/onmarketing/2015/07/07/eight-surprising-facts-about-the-chinese-luxury-consumer/#61a369db74a5
Doctrow, C. (2015, October 1). Fuerdai: Paris Hilton with Chinese characteristics. Retrieved from boingboing.net: https://boingboing.net/2015/10/01/fuerdai-paris-hilton-with-chi.html
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IPSOS; Rudder Finn.(2015). China Luxury Forecast 2015.
Shang Xia – Chinese Luxury Fashion Brand With a French Soul. (2017, October). Retrieved from martiroll.com: https://martinroll.com/resources/articles/asia/shang-xia-chinese-luxury-fashion-brand-with-a-french-soul/
Shannon, S. (2016, September 27). On the floor with the daigou, China’s overseas shoppers. Retrieved from ft.com: https://www.ft.com/content/0e0c6a36-330c-11e6-bda0-04585c31b153
- Luxury with Chinese Characteristics
- Springer Singapore
- Chapter 6
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