As China's economy surges ahead, the growing urban-affluent
segment is luring luxury goods providers worldwide. It is
currently the world's third largest consumer of luxury goods,
just next to Japan and the USA, accounting for 12% in luxury
consumer goods sales worldwide, up from a mere 1% just five
years ago. The Chinese luxury market at present generates
more than US$2 billion in sales per year and is expected
to grow 10 percent annually until 2015, when sales are expected
to exceed US$11.5 billion. By 2010, the country is expected
to have 250 million consumers who can afford luxury products.
Fast-rising disposable incomes of the Chinese have and will
continue to fuel this increasing appetite for riches - with
the world's top brands jumping in to make the most of the
opportunity.
Luxury China: Market Opportunities and Potential
hones in on the prospects for luxury brands in China, and
provides insights on this luxury market and gives advice
on how to best exploit its tremendous potential. This comprehensive
and practical guide addresses key issues such as the size
of the Chinese luxury market, Chinese luxury consumer behavior
and their preferences, critical on-the-ground issues such
as market entrance strategies, elective retailing, successful
communication and advertising strategies, and the pertinent
topic of effective campaigns against counterfeits in China.
Illustrated with concrete business cases in different product
categories such as high fashion, leather goods, watches,
spirits and wines, decoration and table wares, Luxury
China analyzes the current market and its evolution
in the future. It will also serve as a detailed bench mark
for marketers and managers to check against their current
situation and devise their next step action plan for further
market expansion.
Luxury China will be a useful reference tool
for practitioners and students interested in luxury brand
management, and an insightful read for anyone fascinated
with the flourishing Chinese luxury market.
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