
China's luxury consumption Now, China has become the second largest luxury consumption market. In 2015, China will replace Japan as the largest luxury consumer market. As we all know, China is the most potential luxury consumer market. Why is China's luxury consumer market developing so fast? First, the most important reason is the economic factor.
The rapid development of China's economy has created a large number of rich people and the middle class. Their high income has led to their high demand for luxury goods. Therefore, China's luxury market has become more and more creative. Another reason is social factors.
With the policy of opening up to the outside world and invigorating the domestic economy, the consumption gap between China and the world is narrowing. Chinese people have a new concept of consumption, and they use material consumption to shape their own style. Therefore, social factors play a great role in it.
