Gary Leopold penned a helpful roundup of the recent L2 Think Tank conference that China Luxury Network’s Sage Brennan helped organize. He even quoted Sage repeating the China Luxury Network mantra: “China is a demographic, not a geography.”
He goes on to give a roundup of the key insights from the event with advice to luxury brands about tackling the China market.
Some of the highlights include:Read More »
A new article in Business Insider came out today reiterating what we already know. Spendy Chinese tourists are traveling the globe, much to the benefit of luxury good retailers. An article in the Business Insider looked into Chinese tourists going to New York. Last year 306,000 Mainland Chinese visited New York - up from 59,000 in 2002.The typical Chinese tourist stayed for 11.3 days in New York and spent $3,297 per trip. Chinese tourists contributed US$877 million to the New York economy last year.Read More »
International Tourism: “Low Hanging Fruit” for economic stimulus
The U.S. government has found a new way to create jobs and stimulate the economy — by promoting the U.S. as a tourist destination to international travelers. The government believes that courting tourists from cash rich countries like China, Brazil and India could add as many as 1.3 million new jobs and an $859 boost to the economy over the next ten years.
Chinese tourists are leading the pack, with spending up 39% in 2010 to reach US$6 billion.Read More »
China Luxury News Roundup
Summary: Luxury brands are thriving despite the global economic downturn, largely driven by Chinese consumers increased spending at home and abroad. Changing Chinese consumer preferences opening opportunities for designer brands like Paul Smith in China. Chinese government regulations and luxury trends paving the way for more subtle luxury products. A look into luxury auto showrooms in Beijing. China’s wealthy are getting wealthier. Chinese tourists flooding France. Australia says “Nihao” to Chinese tourists. A new Chinese luxury e-commerce company receives funding.Read More »