Luxury shoppers get more sophisticatedUpdated: 2013-11-05 00:24
Chinese luxury consumers are getting more sophisticated, as they increasingly look for unique products and expect professional services.
It's widely known that Chinese tourists are supporting the global luxury market, but the reasons behind the overseas trips of Chinese luxury consumers are changing.
"Finding unique items not available in their home country and buying products in the brands' birthplaces are the main motivations for Chinese luxury consumers who buy items overseas, not just the lower prices," said Shou Yu-ying, managing director and senior vice-president at Ruder Finn China, a public relations firm.
Chinese consumers are becoming increasingly knowledgeable about the different luxury categories, she said, and they're also seeking luxurious overseas shopping experiences.
"These things all reflect the fact that the market is maturing," Shou added.
Observers said that the Chinese luxury market entered a stable development stage two years ago.
About 92 percent of Chinese consumers were dissatisfied with the luxury brands' services at home, according to the 2014 China Luxury Forecast, which was released on Monday by Ruder Finn and Ipsos Group, the third-largest market research company in the world.
The report polled 1,800 luxury consumers from the Chinese mainland and Hong Kong.
Poor customer service and lack of knowledgeable staff in China were the main complaints, Shou said.
Some luxury brands' employees working in China are less skilled than their European counterparts, a problem that is especially seen in brands selling items such as watches, she said.
"Luxury consumption is flowing from China to overseas," Shou said.