Chinese consumers spent a total of 24 billion yuan on luxury goods abroad during the 7-day "Golden Week".
Release Time:
2011-12-02 13:24
Source:
Information Weekly Report
The World Luxury Association recently released the 2011 "Golden Week" overseas consumption analysis report for China. The report shows that during this year's "National Day Golden Week" of 7 days, Chinese people spent approximately 2.6 billion euros (about 24 billion RMB) on luxury goods abroad (including Hong Kong, Macau, and Taiwan), equivalent to the total luxury goods consumption in the domestic market over 3 months.
According to the latest published "World Luxury Association 2010~2011 Annual Official Report," Chinese luxury consumers show a "younger" trend: 73% of Chinese luxury consumers are under 45 years old, and 45% of luxury consumers are between 18 and 34 years old. In terms of consumption mentality, a large portion of Chinese consumers are still engaged in "conspicuous consumption" to display status.
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