Louis Vuitton is still the most recognized luxury brand in Shanghai. (Weibo/Louis Vuitton)
Louis Vuitton is still the most recognized luxury brand in Shanghai. (Weibo/Louis Vuitton)
Contents
- Chinese consumers spend much more on luxury goods than New Yorkers at equal income level. Is this only because imported luxury goods cost more in China or are there other factors involved?
- The report finds that Louis Vuitton, Chanel, and Gucci are among the luxury brands that are most well known in Shanghai. What can smaller brands do to catch up with these established labels?
- Louis Vuitton and Gucci have both seen slow sales growth rates in China over the past year. We’ve heard a lot of reasons for this, such as China’s anti-corruption campaign, slowing GDP growth, and a shift away from logo-heavy styles. What do you think are the main causes?
- The study finds that Chinese consumers plan to spend more money on luxury goods in the future—is this a good sign that slowing China luxury growth can pick up again?
- According to the report, Chinese consumers prefer to shop for luxury abroad at much higher rates than New Yorkers. How important will the outbound Chinese tourist market be compared to the domestic market in the coming years?
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