High-end shoppers go online for deals

For Chinese, online shops are quickly evolving from simply a means to get a bargain to somewhere movers and shakers can splash out on pricey clothes and accessories. According to a study published by auditor KPMG earlier last month, Chinese buyers of luxury items are increasingly favoring online retailers over brick-and-mortar stores, which will account for half of Chinese luxury spending by 2020.

Surveying 10,150 Chinese consumers of luxury goods in 2015, KPMG found that nearly one-third of their luxury spending was online.

The respondents' average spend per luxury item was 2,300 yuan ($350), and the average highest amount they said they would be willing to spend online on each order was 4,200 yuan, more than double the figure in 2014.