Men's purchases may only comprise 40 percent of the global luxury market, but not in China. Citing research by CLSA, which estimates that 55 percent of luxury goods in China are purchased by men, an English-language CCTV segment takes a closer look at the China men's market. When it comes to percentages of male purchases of individual goods, the luxury handbag market is 45 percent male-driven in China, a dramatically higher number than the United States' 7 percent. This has been attributed to the fact that white-collar workers in China are far more likely to take the subway than drive to work, creating the need for classy work bags among both men and women. Watch the video embedded above for more interesting statistics and a few interviews with male luxury consumers.
Video: Men Reign As China’s Top Luxury Shopaholics
In China, the idea that women are more obsessed with shopping is just a stereotype, as men make up 55 percent of the luxury market.
Jing DailyAuthor
Published in Finance