US Media: Luxury Goods Covet Growth After China'S Eighteen Largest Growth

October 30th article, original question: after the leadership change, China's luxury sales will improve. Although Chinese buyers buy gold bullion and valuable gifts for business pactions, but many luxury companies have concluded that after 10 years of government succession in Beijing, Chinese people will spend money on extravagance.

Huang Shaoji, managing director of Zhou Dafu jewelry, said that the change of leadership in November will clear the uncertainties of political appointments and economic policies, stimulate business gifts and promote next year's business.

Sale.

After a year of slowing consumer spending, the growth of the luxury market in Greater China means a great fortune.

Bain consulting said that China has become the second largest luxury market in the world thanks to its luxury gift purchases for business partners and officials.

The industry expects that political changes will release demand, and gift sales will increase in the first quarter of next year.

More generous gifts will help Cartire and Hendry increase sales next year.

Zhou Dafu plans to build about 200 new branches in Greater China next year.

Lufu jewelry will open 50 to 60 stores by the end of March next year, and launch the characteristic gold bars of snake year.

Huang said: "after the end of the Party Congress, we will not only know who will be in power, but also gradually understand who is in charge of which specific organization or department.

This will boost confidence in the demand for gift giving.

According to the custom of courtesy and courtesy, gifts are always important in the daily life of the Chinese people or in the workplace.

As incomes grow, Chinese consumers are used both at home and abroad.

The expenditure is increasing gradually.

According to Bain estimates, 1 out of every 4 luxury consumers in the world are Chinese.

In 2012, China saw the first signs of a slowdown in the consumption of luxury goods, due to a reduction in the number of gifts before the government and restrictions on the consumption of public servants.

This has led to widespread austerity and suppressed demand for luxury goods.

The industry believes that the situation will be better after the completion of the term, because "after all settled, customers will know who to give it to."

At the same time, the new government may take measures to stimulate economic growth and domestic demand.

"In the second half of next year, gifts related to the government will start again.

At that time, officials were basically staying in their new jobs for a while, "said HSBC analyst Lamberg.