Significant Proportion Of Mainland China Sales Come From Lower-Priced Accessories
China’s luxury market is increasingly segmented
This week, Yang Zhaohui of the China Fashion Network penned an op-ed about the complexities of the Chinese luxury market, writing that despite the flowery language often used to describe this fast-growing market, it is far more contradictory and segmented than many would think. Yang, noting that there are two major types of luxury consumer in China right now — the conspicuous consumer and the more sophisticated shopper — looks deeper into consumer trends and calls attention to a group she calls “Madame Bovaries,” younger women who save up for months for luxury goods, yet their meager income only allows them to purchase smaller accessories.
From Yang’s article (translation by Jing Daily team):