There are about 2.7 million HNWIs (High Net Worth Individuals) in China each of whose assets totals over $0.95 million. And, the number of ultra high net worth individuals (UHNWIs), each with personal assets worth over $15.8 million, reached 63,500.
Calvin Klein Launches Tmall Flagship Store in China on 19 Sep 2014. CK’ commodities can be classified in 3 categories: jeans & casual clothes, underwear products, and luggage & bags.
There are often distinct differences for almost everything between China and the rest of Asia and Oceania and there’s no exception for luxury travel industry. Here are some insights Brand Karma study revealed.
Some Chinese shoppers buy products on oversea online retailers, which will be delivered directly to their Chinese address. These group of users are commonly known as Haitao in China.
The turnover of Estee Lauder’s Tmall flagship store in June was nearly 10 million yuan, stimulating the off-line store sales at the same time. According to CCW.com.cn, there were a total number of close to one million visitors and over two million views on Estee Launcher Tmall store. Their products were bookmarked over 50 thousand […]
Estee Lauder launched their official online shop on Tmall on 21 May 2014 and the total sales reached about 3 million yuan on the first day according to leaked sales data online.
Burberry officially launches Tmall flagship store on Apr 23 2014. This is the first time that an international Luxury brand enters into the third-party online shopping platform, which is some quite surprising. According to its recent sales report of the website, its flagship store on Tmall sold only 132 products in 18 days, including 32 […]
The Hurun Research Institute recently conducted an investigation about luxury consumption towards 551 rich men and women from 31 cities. Among the rich, 69 people were billionaires. The average age of multimillionaires and billionaires was 38 and 40 years old respectively. And the average money they spent yearly was 1.77 million yuan (USD 290,000), less […]
According to a study from Fortune Character Institute, Chinese would buy 47% of the luxury products worldwide in 2013. The November 11th, also known as Chinese Bachelor Day, had become a shopping carnival for Chinese netizens to satisfy their shopping desire. It’s even reported that a lady from Zhejiang Province bought a 13.3g diamond ring […]
Shanghai Free Trade Zone officially launched cross-border e-commerce platform kuajingtong.com on December 28, 2013. It is the first cross-border e-commerce enterprises granted by Chinese government as the government supports cross-border shopping.
Tuhao has been a hot word all over the media, it represents rich Chinese who love to show off their wealth on internet while claiming to be poor. According to an article from Sydney Morning Herald, China’s vulgar rich: befriended but unloved, a crowdsourced translation call on China’s social media yielded “new money,” “slumdog millionaire,” the “riChinese” […]
In 2013, China luxury brands market growth slowed down due to economic and other factors. But, how would China secondhand luxury brands market perform? Institute Fortune Character, an institute of Fortune Character which is a luxury lifestyle publication in China, did a survey of more than 200 secondhand luxury stores in Beijing, Shanghai and Guangzhou […]
CIC and GroupM jointly released China social travel white paper in 2013. By collecting and analyzing social media discussion and related information, they classified Chinese travelers into five categories which could be helpful for brands to make market strategies. China National Tourism Administration estimated that Chinese tourism industry would reach 2.9 trillion yuan (USD 471.4 […]