Arab Today, arab today china\s luxury consumption shift from prestige to quality
Last Updated : GMT 09:17:44
Arab Today, arab today
Arab Today, arab today

China\'s luxury consumption shift from prestige to quality

Arab Today, arab today

Arab Today, arab today China\'s luxury consumption shift from prestige to quality

Hong Kong - XINHUA

Chinese affluent consumers are increasing their purchases of lower price luxury items, moving away from established brands, Bank Julius Baer said in a report here on Tuesday. The Swiss biggest private banking group released its third Julius Baer Wealth Report Tuesday, saying that the Chinese consumers have changed tastes and habits, and luxury becomes a lifestyle in stead of a one-off celebration. The report expects the next wave of luxury consumption in China is less about famous brands, but a migration towards heritage, underlying quality and understatement. Stefan Hofer, emerging market economist and the lead author of the report, said \"Evidence continues to mount that Asia\'s growth and wealth creation engine has decoupled from the still-weak mature economies, and China in particular is moving up the value chain.\" He expects the number of High Net Worth Individuals (HNWIs) in Asia will grow from the estimated level of 2.17 million in 2013 to at least 2.82 million by 2015. In its third year stating from 2011, the Julius Baer Wealth Report continues to focus on Asia, providing a comprehensive analysis of the HNWI landscape in the region, including a comparison of luxury goods and services costs. The Julius Baer Lifestyle Index, which traces the weighted average prices of 20 luxury goods and services across Asia, rose 8 percent in 2013, albeit at a slightly slower pace than the 8.8 percent in 2012. Based on the cross-sectional data, China\'s Hong Kong, China\'s Shanghai, Singapore and Bangkok have the most items that cost more than the region\'s average prices, while most luxury services in India\'s Mumbai, Indonesia\'s Jakarta, Malaysia\'s Kuala Lumpur, Philippines\' Manila and China\'s Taipei are below the regional average. In keeping with the 2012 outcome, the cost of university education has shown the highest increase for this year, up more than 30 percent for all markets. The second highest average increase was seen in high-end wine, which grew more than 16 percent across all markets, and experts expect prestigious wine labels may rise at a slower rate in the future.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s luxury consumption shift from prestige to quality Arab Today, arab today china\s luxury consumption shift from prestige to quality

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday