China Luxury News Roundup

China Luxury News Roundup

Summary: New must-do for Chinese tourists: French wine tour. U.S. Tourist Visa Demand Surges from China. How the Chinese Rich Shop… Abroad. Selling China on California. Chinese Tourists on Global Luxury Spending Spree Driving Revenue at U.S. Retailers. Showing off: The culture behind China’s luxury goods market. Luxury Car Brands and Their Chinese Stereotypes. China’s Super-Rich Buy a Better Life Abroad.

New must-do for Chinese tourists

Both Michelin and French hotels are diverting Chinese tourists from Paris to the vineyard.

U.S. Tourist Visa Demand Surges

About 160,000 of the 1 million visas issued last year in China were to students, who make up the largest foreign national group at American universities and colleges.

How the Chinese Rich Shop… Abroad

Analysts now know that the best place to learn about Chinese ultra-rich consumers is not the mainland.

Selling China on California

When measured by dollar sales, U.S. wines made up just 4 percent of the import market in China while French wines commanded a whopping 55 percent.

Chinese Tourists Luxury Spending Spree

“Roughly half of our U.S. sales increase in the quarter came from higher spending by foreign visitors, increasingly led by Chinese travelers,” said Mark Aaron, vice-president of investor relations for Tiffany & Co. In October, Harrod’s reported sales had been driven up by Chinese tourists, who, on average spend £3,500 per store visit.

The culture behind China’s luxury market

Showing off: The culture behind China’s luxury market. The Economic Observer, a Chinese newspaper, reported that one factor fueling the trend is that Chinese culture puts a premium on showing off wealth. The prevalence of “face” culture means consumers are self-aware and concerned about winning others’ respect with their purchases. Many people in China regard luxury goods as symbols of status and power.

Luxury Cars and Chinese Stereotypes

“Because the market is so young, brand perceptions and a car’s face” — an idiom meaning prestige or repute — “are both critical,” said Zhang Yu, managing director of Automotive Foresight, a Shanghai industry consultancy. Here are a few of the stereotypes that are impacting sales in China:

China’s Super-Rich Buy a Better Life Abroad

Education for the kids, clean air, and rule of law are luring wealthy families to emigrate.

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