Finding the trend: China abandons London-Paris Shop to distribute brand names. luxury in your own country

 

 

 

How has the enormous168slotxo.infopurchasing profitable. Whether you are a novice gambler who have never had any experience in playing slots games before But it's not a problem if you choose to play with our website huc99 online slots that will make you rich overnight. power of the Chinese middle class changed in the lockdown era? especially with brand name products

 

On September 5, 2022, South China Morning Post, the famous Hong Kong media. Publishes an analysis of David Dodwell, CEO of Strategic Access, a trade policy advisor and international relations firm. that the luxury brand market Or luxury in China is still bustling. Just change the form of buying from London and Paris to buying in the country instead.

 

The global luxury brand market is in the process of upheaval. After the Covid-19 pandemic political change E-commerce revolution and above all, China

 

Although China's zero-covid lockdown has put China's economy on hold since 2020, the world's Burberrys and LVMH conglomerates remain confident that China will become the world's No. 1 luxury brand by 2025. 2027)

 

Ben & Co. (Bain & Co.) International Business Consultant released an annual report on the Chinese luxury brand market that Chinese people who buy luxury brand items still exist. Most were motivated by daigou-dai-kou, girls who carry brand-name products from London, Milan and Paris to sell in China.

 

Domestic luxury brands

Trends that leading brands like Gucci, Hermes or Burberry are probably more alarmed. is buying behavior in China Shoppers turn to Chinese-made products, known as guachao, as a local fashion trend. Chinese Indicates the ethnicity that the new generation likes.

 

According to online media reports, Jing Daily-Jing Daily, which focuses on the domestic luxury goods business. Stimulate assistance to support companies in the country which uses Xinjiang cotton that has been sanctioned by international sanctions. with allegations of human rights violations against Uighur Muslims

 

 

 While President Xi Jinping upheld the policy of ordinary prosperity. hopes to help bridge the inequality gap across China Decrease the wealth level among the billion dollar billionaires. Because such wealth leads to spending that goes unnoticed, such as throwing in an elite education. has top health care to a comfortable retirement plan

 

The Chinese middle class dominates the purchases.

Back in 2015, more than 70% of overseas luxury brand purchases came from spending by China's middle class.

 

 

 

But from 2020, with China's travel restrictions, from 150 million flights in 2019 to just 20 million. As a result, only 70-75% of brand-name purchases abroad in 2020 will be reduced.

 

Last year, purchases of brand-name products abroad rebounded to more than 90% of spending.

 

Meanwhile, shoppers for Chinese luxury brands dropped sharply in Paris, Hong Kong and London, as well as Bicester. Duty-free shopping in the UK But sales of luxury brands in China have increased exponentially. Especially in Hainan (Hainan), which was built as a duty-free port in June 2020.

 

Sales of duty-free goods in Hainan rose from $2.190 million, or about 80 billion baht in 2020, to 9.4 billion dollars, or 34 billion baht in 2021, and are expected to reach $46.5 billion or 1.7 trillion in this year. 2025

 

Moved from Hong Kong to Hainan

The impact on Hong Kong from Chinese luxury brand shoppers is severe. The Tourism Commission assessed that Of the 65 million tourists flying to Hong Kong in 2018, 78% came from China.

 

These tourist groups spend up to $97 billion or about 3.5 trillion baht, mostly luxury brands.

 

 

Shopping at Hainan CGTN

Until the year 2020, when the covid epidemic Tourists from China have dropped dramatically. And brand-name sales have also disappeared. which, if you look at the numbers will find that the missing peak of Hong Kong has appeared in Hainan instead

 

Although Hainan's Sanya City was locked down last month, This leaves tourists stranded for up to a week. But the recovery seemed to return quickly. This is because it allows tourists to spend up to $15,000 during their trip. You can also re-purchase duty-free for six months after this.