Although the economic slowdown, the complex tax system and other factors, luxury companies still see the Chinese market as a goose laying golden eggs. The Chinese market for luxury goods brings huge profits and according to Want China Times media the Chinese consumers buy 1/3 of luxury products in the world. Approximately 27 million people, 2% of the Chinese population are probably the major customers of these products. Why is this so?
The desire for luxury has always been present among the Chinese elite and recently it spread to the middle class. With rising salaries and the public mind, more and more people are interested in the acquisition of luxury goods. Globalization and Internet have provided a huge potential for companies to sell products and increase their sales. Research shows that 70% of potential customers are looking for luxury brands on the Internet at least once a month.
