“Chinese luxury report” release China’s luxury market research agency wealth Quality Research Institute on14th, carries on the forecast to the luxury goods industry, the report “bad mouthing” global and Chinese luxury industry,caused extensive discussion and debate.

The research report shows, 2013, while the global market for luxury goodsunder a lot of pressure, but the total capacity of the global market for luxury goods will reach a record $217,000,000,000, expected annual growth rate of 11%. Chinese luxury goods market, domestic consumption will reach $28,000,000,000, is expected to increase 3%, consumption abroad to further strengthen, will reach $74,000,000,000 in 2013, the Chinese luxury consumption will total $102,000,000,000, is about ￥600,000,000,000 ,this also shows that the Chinese will buy 47% of global luxury goods, is the biggest customer for the global luxury market undisputed.

According to the wealth Quality Research Institute of 4650 Chinese high asset consumer survey found, many luxury brands have been abandonedChinese consumers, especially some high asset luxury core consumer.Wealth Quality Research Institute forecast, core consumer high assets escape in the future will be further intensified, and secondary assets edge consumer increases the speed will slow further, and to predict the 3-5 years,luxury core consumer fled the trend will be further affected edge consumers and potential consumers of consumer enthusiasm, the luxury goods industry will usher in the recession.

Resources :

http://luxurysociety.com/articles/2012/04/the-top-50-most-searched-for-luxury-brands-in-china

http://politics.people.com.cn/n/2013/1115/c70731-23547759.html