Report: Nearly half of Chinese travellers buy luxury brands overseas
Daily news, 28 Oct 2008: SHANGHAI – According to the latest Nielsen China Outbound Travel Monitor, nearly half of Chinese international travellers purchase luxury branded goods when they go overseas.
Conducted in partnership with the Pacific Asia Travel Association (PATA) the Monitor reveals that three quarters of Chinese travellers are buying luxury goods overseas because they are less expensive than at home and nearly six in 10 do so because they can be sure the luxury good is genuine and authentic.
China has become a major market for international brands in recent years with more designer brands opening flagship stores in this fast growing market.
Europe and North America are the favourite luxury goods destinations for the Chinese. Close to three in five (59 percent) purchase luxury branded goods when they go to Europe and over half (56 percent) purchase them when they visit North America. On average, Chinese travellers spend US$900 on luxury branded goods when they are overseas. Across all destinations, spending on luxury goods was highest in Europe, amounting to US$1,359 per trip.