Chinese consumers still prefer to shop for luxury go - leatherbiz: Lea Leatherbiz

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Chinese consumers still prefer to shop for luxury goods overseas

17/02/2016
Chinese consumers spent more than $115 billion on luxury goods while visiting other countries in 2015, according to the China Daily newspaper. It goes on to say the buyers of 46% of high-end goods, including branded leathergoods, sold around the world last year were Chinese.

A comment from the China Chamber of International Commerce suggests that one of the main reasons for the enduring popularity of overseas shopping is that high-end goods are frequently up to almost 70% more expensive in China than in the US and Europe.

China Daily said this was reflected in store closures in China by luxury brands in recent years; it named Louis Vuitton, Burberry, Hermès, Armani and Prada as companies that have closed outlets in China in the past two years.


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