Chinese New Year | Year of the Chicken 2017

by • 28 January, 2017 • Disruptions, How to be Global, Retail, ReinventedComments (0)13794

How the Chinese Luxury Market Celebrates Lunar New Year

新年快乐 Happy Chinese New Year! To usher in the year of the chicken, we’re sharing a few factoids about the Chinese luxury market.

  • Luxury watches took the biggest toll from the government crackdown on corruptive gifting. The luxury watch market experienced a 11% decrease in sales over the last year.
  • China’s e-commerce market is gaining traction and is predicted to reach $500 billion by 2015. Consulting firm Bain expects China to overtake the US as this year’s largest online shopping market.
  • Local luxury consumption in China is straying from well-known brands with conspicuous logos and instead, warming to niche labels. This latest trend is driving the establishment of multi-brand boutiques in China.
Header image, Peony Chicken available here.

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