China Smart Phone Market Revenue - Ken Research

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Chinese Luxury Goods Market to Propel Global
Growth in the Coming Years - Ken Research
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The Luxury Goods Market in China revolves around
the revenues made via retail sales from retailers
who particularly trade in Luxury Jewellery
Watches, Bags Accessories, Apparel Footwear
and Cosmetics Fragrances. Chinese consumers
have been an integral factor responsible for the
progress of this market. In China, the new
generation is very interested in luxury goods
since the Chinese middle class are continuing to
evolve and spend accordingly. The Chinese
consumers account for a third of the total
customers for this market globally and they have
managed to record a considerable rise in the
sales all over the world for numerous
reasons. The report, Luxury Goods in China
provides all the necessary resources for top-line
data and analysis that covers the China luxury
goods market. It includes many variables
including market size and segmentation data,
textual and graphical analysis of market growth
trends, leading companies and macroeconomic
information. Luxury Goods in China industry
profile offers a qualitative and quantitative
summary as well as contains descriptions of the
leading players with proper inclusion of key
financial metrics and analysis of competitive
pressures in the market.
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The Chinese luxury goods market has come a long
way and has managed to register a compound annual
growth rate (CAGR) of about 4.1 between 2013 and
2017. The jewellery watches segment has been
the most lucrative segment of the market in the
year 2017. On a whole, the luxury goods in China
have showcased the fastest growth momentum in
retail current value terms. The Chinese luxury
goods market is able to record higher profits
year after year due to its ever-younger consumer
groups, supported by the proliferating millennial
generation because of high birth rate between
1985 and 1995 in China. Moreover, as the number
of middle-class consumers in China has seen an
increase, the producers have endeavored to
further ameliorate their product lines,
especially to cater to the younger consumers,
many of whom are well aware of what they want to
purchase having a relatively limited purchasing
power.
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There is no doubt to the fact that China has
relished success in terms of sales of luxury
goods. Categories like fine wines/champagne and
spirits, luxury cars and super premium beauty and
personal care have registered a massive growth in
current value terms over the years, supported by
the affirmative factors including- reduced duties
on some imported luxury goods, stable demand for
wedding gifts and a stringent policy to crack
down on the grey-market daigou, or personal
shoppers overseas. There is a significantly
sophisticated pool of luxury shoppers in China
which is expected to support the luxury goods
industry to prosper in the coming years though
the brands are also required to come up with new
ideas and approaches for keeping them interested
with the passage of time. There are some brands
such as Alibaba, which have lately come up with
ideas like the Luxury Pavilion, an invite-only
platform strictly for top brands that are
specific to their T-mall business-to-the-consumer
venue, that would obviously appeal more and more
Chinese consumers and if such innovations
continue to come up as the years roll by, no one
can stop the luxury market in the country from
mushrooming and reaching heights.
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China is a home to some of the most creative
digital services and platforms like WeChat and
TMall and the consumers here are ardent users of
social media wherein about 35 percent of them
prepare online content on a daily basis. Chinese
luxury consumers are thereby expected to raise
their online luxury expenditure from 2017
onwards. Currently, the expenses made by these
consumers have seen a positive rise though the
change is not very high. Nevertheless, if the
luxury brands further plan well as to how they
will develop their initiatives a seamless
experience would definitely be enjoyed by the
consumers and it would be highly likely that more
luxury sales are conducted online in the years to
proceed. The significance of luxury-goods market
in the country is well highlighted through the
statistics that follow The number of Chinese
millionaires is forecasted to exceed that of any
other nation by the end of 2018 and by 2021 China
is foreseen to have the most opulent households
in the world. In 2016 itself,
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it was estimated that around 7.6 million Chinese
households bought luxury goodsa number much
larger than the total number of households in
Malaysia or in the Netherlands, even at that
time. When compared with average Chinese
consumers, wealthy consumers have reported a much
better positive outlook about their future
spending one out of two wealthy consumers
anticipates to spend more in 2018, while only one
in four average Chinese consumers plans to spend
more. Reinforced by confident perspective of
consumers we can expect the wealthy ones to be
looking to trade up, either to more expensive
brands or to more expensive products from their
current brands. As a result, an incremental
expenditure from the existing consumers can be
expected. Thus by 2025, it is forecasted that the
value of the global luxury-goods market will
amplify with about RMB 1.0 trillion being added
over the next nine years and the Chinese
consumers will persist to account for a majority
of this growth, covering near about 44 percent of
the total global market. So, the luxury market in
China is all set to bolster the growth across the
globe as time passes.
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Key Topics Covered in the Report China Luxury
Goods Market Research Report China Luxury Goods
Market Size China Luxury Goods Trade Market China
Luxury Car Market Manufacturers China Digital
Camera Market Analysis Global Luxury Goods
Production Output China Luxury Wine Market
Demand China Luxury Goods Import Volume China
Luxury Goods Export Volume China Portable Laptops
Market Research China Luxury Goods Market Future
Outlook China Luxury Goods Market Competition
China Portable Bluetooth Speaker Market China
Smart Phone Market Revenue China Consumer
Electronics Industry Future Outlook
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To know more about the research
report https//www.kenresearch.com/consumer-produ
cts-and-retail/luxury-goods/luxury-goods-in-china/
144055-95.html Related reports https//www.kenre
search.com/consumer-products-and-retail/luxury-goo
ds/luxury-goods-in-the-united-states/144056-95.htm
l https//www.kenresearch.com/consumer-products-a
nd-retail/luxury-goods/jewelry-and-silverware-manu
facturing-global-market-report/143675-95.html Con
tact Us Ken Research Ankur Gupta, Head Marketing
Communications sales_at_kenresearch.com 0124-423020
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