The Trend Of Over 70% Consumption Of Luxury Goods In China Will Continue.

Yesterday, the domestic luxury market research institute, the Institute of wealth quality, released the "China tax exemption report" for the third time. According to 25 global Exempt Company and 76 senior executives of the duty-free industry, and 892 high net worth consumers surveyed over tens of millions of assets, it is concluded that over 70% of our extravagant consumption consumption will flow overseas. This trend will continue.

The report says that with the increasing number of outbound people, the Chinese have begun to release their spending power worldwide.

Although in many countries, China may not be the country's largest tourist source country, but from the perspective of consumption power, the current consumption per capita of Chinese consumers is 1508 euros, the number one in the world, which is 3~5 times the average per capita consumption of overseas citizens in many European and American countries.

Data show that in 2013, the Chinese bought 47% of the world's luxury goods, about 102 billion dollars, but only 28 billion dollars of consumption remained in China, and China's luxury consumption outflows 73%.

"Luxury goods consumption will shift further overseas this year."

Zhou Ting, President of the Institute of wealth and quality, predicts that China, Hong Kong and Macau (30%), Europe (22%) and the United States (21%) are the three most important areas for Chinese people to buy luxury goods overseas.

It is worth mentioning that China's Hong Kong and Macao region's sweeping status has begun to waver.

The findings show that the US region has increased by 7 percentage points over the past year, and the European region has increased by 6% over the same period last year.

At the same time, the proportion of Chinese consumers buying luxury goods on the mainland decreased by 2% compared with that in 2013, while Hong Kong and Macao decreased by 14%.

From the point of view of the category, the rich prefer customized ones.

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And hard jewelry such as jewelry, while ordinary consumers prefer overseas shopping.

Perfume, cosmetics and clothing.

"For ordinary consumers, the price is relatively cheap, the style is complete is the main reason for choosing to buy luxury goods abroad."

Zhou Ting said, however, for the rich class buyers, whether the quality assurance is the focus of consumption, and the rich consumers also pay more attention to the shopping experience.

The report proposes that along with the acceleration of global economic integration, the basic tax revenue on the tax exemption industry will be further reduced, and import zero tariff will become one of the tax policies pursued by many countries.