Luxury Market in China

Recent Change In The Market Created New Trend In Between People

All country market decides their economy level if their market is getting down due to the foreign goods then they may face a lot of trouble, surly it will affect their economy growth. In china previous year they faced many unexpected situations in their market. Their stock market is not as they expected it got declined severely and many new foreign goods were started to enter into their market. Xi Jinping took action against corruption industry this move was really unexpected. New brand and new products created the greater impact in between the people they started to change their preference and opinion.

What Made The Luxury Market To Fall?

Due to the anti-corruption action led by the Xi Jinping president of china, Luxury Market in China declined nearly 113 billion of RMD particularly men’s wear product sales only got affected. Only last year their stock market got affected this badly reason for this is many. Even though some market declined and other women accessories brand is still maintaining their position. Especially jewelry, perfume and cosmetics buyers are getting increased from 2012 onwards these products are getting the steady growth. We can expect the percentage more in future, Celine and Loewe is the top brands that are liked by many people the reason for this is simple just for their quality and trendy choice.

They Changed Their Luxury Market Destination

Once Chinese people used to depend upon the Hong Kong market and they used to purchase all kinds of luxury goods from their only. Now they like to buy things from Japan and other two countries like South Korea and Europe. Nearly 60% of products they are getting from the Japan market only so we can get easily conclusion that they are their favorite place to get the luxury things. Hong Kong market is getting effect due to this change. Many Chinese tourists liked this change because they are getting all kinds of brands and stylish clothes in their market for the low cost what can be better than that. Buying in stores is become out of trend now all liked to buy in online stores only they are easy and comfortable to use.