Chinese buy luxury goods at home

BEIJING, China – Chinese shoppers are increasingly buying luxury goods in mainland China, turning away from high-end stores abroad and in Hong Kong, a survey indicated Thursday.

The poll by market research firm Ipsos found that Chinese buyers preferred to shop in the mainland for luxury goods in 5 of its 7 categories — watches, cosmetics, clothes, shoes, wines and cigars.

Last year, mainland Chinese preferred to buy top-end items at home in only 3 categories.

The semi-autonomous, southern Chinese city of Hong Kong remains their preferred destination only for jewellery and handbags, despite higher taxes on luxury goods on the mainland.

39% of respondents voted for Louis Vuitton as top luxury brand; 17% for Chanel; 7% for Gucci; 6% for Hermes; and 5% for Christian Dior.

A total of 1,135 people on mainland China with annual incomes higher than 100,000 yuan (US$15,900) were questioned last month for the China Luxury Forecast, jointly carried out by Ipsos and PR firm Ruder Finn.

About 69% of luxury product buyers were under 35, while most purchases were intended for women, according to the survey.

“More men bought luxury products for their spouses, while more women bought for themselves,” it said. “In short, women receive the luxury goods.”

The poll also found that about 45% of respondents used social media, including China’s wildly popular Twitter-like microblogging sites, to seek information on luxury products.

About 10% of luxury items were bought on the Internet, with the figure rising to 17% for cosmetics. – Agence France-Presse