Western Luxury Industry Has Great Potential

In China, the luxury goods industry is spreading and spreading in various cities. In the western market, the huge potential of its industry is slowly being excavated.

The western region's luxury consumption "west line power", led by Chengdu, Xi'an and Chongqing, is becoming more and more important in China's luxury consumption territory. Forbes believes that consumption of high-end consumer goods in Chengdu is ahead of other western cities. Chengdu is the consumption center of Sichuan and even the west, and Chengdu's consumption concept is very advanced. Especially the sales of single cars, watches, clothing and jewelry are among the top three in the country.

According to statistics, there are more than 22 thousand millionaires in Sichuan Province, and more than 1500 billionaires. In the western part of China, about 1000~1300 people are active luxury buyers. In 2010, China's luxury goods sales volume was 10 billion 700 million dollars, and the annual growth rate of luxury goods consumption was 14%.

According to the introduction, the high price of luxury goods and the high purchasing power are the inevitable results of the rapid economic development. From a macro perspective, from 2007 to 2010, China's current account surplus reached more than 40000 billion in the 4 years, while capital account also showed a surplus. Double surplus makes China's financial capital prices continue to rise, residents' wealth continues to increase, coupled with the appreciation of the renminbi, Chinese people have the ability to consume high-end luxury goods.