Chinese make 25% of world’s luxury buys – Yahoo! Finance
In China, shopping trends follow social patterns: more middle classes and also more extra-rich… it’s not surprising that Yahoo News is reporting the Chinese consume a quarter of the world’s luxury brand purchases. The amount is probably more if you factor in overseas shopping of the wealthy travelling Chinese.
One factor powering growth is the expansion by retailers from China’s leading metro areas to smaller cities and regional hubs — a trend that means luxury shops are opening for the first time in cities with populations nonetheless as large as Paris or San Francisco.
Yes, small cities in China are like huge cities in the West.
via Chinese make 25% of world’s luxury buys – Yahoo! Finance.