Opinion / Forum Trends

Why are Chinese obsessed with luxury goods?

( Updated: 2014-10-27 08:26


I have met many Chinese visitors in London. One of the main reasons why they buy many luxury items (instead of one or two) is simple. Many of them are first time overseas tourists. In China (and in most of Asia), there is a social obligation to buy presents (of equal quality) for friends and relatives. Over time, this "obligation" disappears - therefore, their shopping habits will change over the next few years.

Why are Chinese obsessed with luxury goods?

Shoppers queue for the start of the world famous Harrods department store Boxing Day sale in London, Dec 26, 2013. Western luxury stores and brands have conjured up a range of activities to cater to high-spending Chinese shoppers during the Lunar New Year holiday. [Photo / London News Pictures/REX /]

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