Luxury Consumption Potential In Western China

In the southwest of China, the International Motor Show held in Chengdu, China, held a public visit day. In the 1 days, more than 700 cars were sold on site. Among them, Martha Lahti, Ferrari, Porsche and other millions of famous cars received many orders, and some of the tens of millions of luxury cars were also buyers.

China's western regions are traditionally economically backward areas, with the recent development of the region.

A report released by the Chinese Academy of Social Sciences in May showed that the total consumption of luxury goods in China last year was 9 billion 400 million yuan, with a global share of 27.

5%, for the first time, it surpassed the US for the first time and became the second largest consumer of luxury goods in the world after Japan.

Jeffrey Erensen, President and founder of Erensen consulting, has held several high-level international luxury brands.

He previously said in Chengdu that the Chinese market is very suitable for retail development.

In the modern market, competition is becoming more and more intense, and the demand of consumers is more and more high-end.

In China, consumption of luxury goods has only become popular in recent years.

"There is no concept of luxury before reform and opening up."

Song Jianzhao, Secretary General of Chengdu retail trade association, said.

Many people buy luxury goods for self reward and enjoyment.

Besides, buying luxury goods is also one of the reasons for using them in formal social occasions.

In Chongqing

With the rapid growth of Western China's economy, luxury consumption has begun to shift to the West.

At the end of last month, Hu Run, who was known as the "Chengdu rich list", revealed in Chengdu that China now has 87 of its millionaires.

50 thousand people, of whom 5 are billionaires.

50 thousand people.

Among them, the western province of Sichuan has more than 2 millionaires.

20 thousand people, more than 1500 billionaires.

Earlier this month, the first Louis Weedon flagship store in Southwest China opened in Chengdu.

In half a month, the turnover has exceeded 30 million yuan.

Among the consumers who buy goods, there are many customers from other provinces and cities in the western region besides the locals.

"Judging from their accents, they may come from Chongqing, Xi'an in the northwest, Yunnan, Guizhou in the southwest, and even Tibet."

Special guide Chen Yuan said.

Data show that in recent years, Chengdu's automobile consumption growth has been maintained at 30%, and luxury car sales have risen to fourth nationwide.

There are more than 1 million 300 thousand cars in the city, and more than 30 households have private cars.

Huicong Dun Bai research released a white paper on luxury consumption in mainland China in 2010 last week in Xi'an.

The data show that the "west line power", which is mainly consumed by three cities in Xi'an, Chengdu and Chongqing, is almost comparable to the eastern coastal cities.

According to the insiders, luxury consumption in the west is concentrated in several regional central cities, which means that the vast market hinterland in the West has the potential to be excavated.

Hu Guangwei, deputy director of the Sociological Research Institute of Sichuan Academy of Social Sciences, thinks that the consumption level of different strata is different. Luxury goods should satisfy some people's consumption needs.

He pointed out that "the future of luxury goods in the West will be broader, and high-end services and entertainment activities will also increase.

But the rich should be more restrained and should not be too flaunt.