45% of respondents purchased most of their luxury goods online according to a research conducted by KPMG. The respondents showed little concern for making online purchase of products under RMB 4,200, an increase of 121% (RMB 1,900) compared to the research in 2014.
The average spend of luxury consumption in China is about 2,300 yuan, an increase of about 28% compared with 2014 according to the KPMG research.
The main factors driving consumers’ online shopping are the prices and discounts. Nearly one third of respondents once bought luxury goods online with the same price in stores. Although the price to promote the purchase becomes less influential, the value of the goods still remains important.
Many categories of luxury goods have experienced an average increase in consumer spending, including bags (109%), women clothes (58%) and cosmetics (18%), watches (126%) and jewelery (65%). Cosmetic is the most popular online shopping products, followed by shoes, leather bags, women’s clothes and accessories.
Spending on gift-giving by Chinese luxury consumers was down a further 5% in 2014, totalling 30% over two years according to Hurun Research Institute.