Shanghai consumers spend more on handbags
06/05/2014
This study compares relationships between high-end clothing and accessory brands and consumers in the metropolitan areas of Shanghai and New York, drawing on samples of around 1,000 residents between the ages of 25 and 54 in each city.
Over the last 12 months, Shanghai consumers spent more than double the amount on handbags that their counterparts in New York did. For every dollar shoppers in New York spent on luxury handbags, those in Shanghai spent $2.30. For every dollar they spent on luxury clothing, Shanghai consumers spent $1.50 and for every dollar New Yorkers spent on shoes, Shanghaiese shoppers spent $1.40.
Shanghai residents gave their top three luxury brands as Louis Vuitton, followed by Chanel and Gucci. Respondents in New York named Gucci, Coach and then, in third place, Louis Vuitton.
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