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Luxury in 2014
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Consumers in China’s mainland and Hong Kong predict the stabilization of luxury goods consumption, according to the 2014 China Luxury Forecast recently released by the Ruder Finn public relation firm and IPSOS Group. Increased consumer sophistication is a prevailing trend as Chinese seek more unique products, beyond the logos, the report said. The report also found that consumers from China’s mainland are willing to spend more on fashion and beauty. Consumption for watches, bags, jewelry, shoes and fine wine will remain the same as in 2013. Both mainland and Hong Kong consumers show greater confidence in making luxury purchases online.
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