Chinese shoppers' spending on luxury goods abroad increased by 10% last year, according to new research from management consultants Bain & Co.
Chinese shoppers' spending on luxury goods abroad increased by 10% last year, according to new research from management consultants Bain & Co. The "2015 China Luxury Market Study" included a survey of nearly 1,500 Chinese consumers and among key findings: overseas travel among shoppers increased by 32% from 2014; shoppers stayed away from Hong Kong and Macau favouring destinations such as Japan, South Korea and Australia; and there was a shift in shopping channels from "Daigou" overseas personal shoppers who buy luxury goods for customers in China, to cross-border and overseas websites, which accounted for ¥48bn of the ¥293bn luxury spend overseas.