Over A Million Millionaires In China
Brands the world over are clearly after the emerging Chinese consumer, particularly in the luxury industry, where flat domestic sales in Europe are being propped up by big-spending Chinese tourist-shoppers. But, as Jing Daily has previously noted, a misunderstanding of the wealthy mainland Chinese demographic — whether they’re at home or abroad — puts brands at risk of alienating a core (and still growing) buyer segment.
This week, a presentation by IQPC Worldwide looks at the Chinese luxury shopper, examining the types of Chinese millionaires, where they live, how they make purchase decisions and more. Though there’s nothing new here for a seasoned observer, the presentation is a valuable primer for those new to the market.