Men now account for more than half of all luxury goods spending in China and brands are taking notice and adjusting their strategies.
Companies such as Burberry Group Plc and LVMH which sell luxe clothing and accessories benefit from this gift-giving culture, and wealthy Chinese men‚Äôs penchant for designer ware.
But they are also at risk of big sales swings because men are less likely than women to splurge on discretionary purchases in times of economic uncertainty, CLSA‚Äôs research shows.
‚ÄúMen are not prone to impulse shopping,‚ÄĚ said Mariana Kou, CLSA‚Äôs consumer and¬†gaming¬†analyst in Hong Kong. ‚ÄúThey tend to wait a little if the¬†economy¬†is pretty uncertain.‚ÄĚ