Golmuri » perceived value http://golmuri.com Knowledge Unlimited Wed, 02 Feb 2011 10:09:54 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Luxury @ China http://golmuri.com/learning-center/web/luxury-china http://golmuri.com/learning-center/web/luxury-china#comments Sun, 07 Mar 2010 10:23:40 +0000 rohit http://golmuri.com/learning-center/web/luxury-china luxury goodsLuxury products can be defined as mature products which have historical attachment, global recognition and high perceived value or in short ‘a story to brag about’. These products are mildly correlated to the consumption and economic conditions of the consuming country. China, the biggest developing country of the world has surpassed US to become the second largest consumer of luxury products. It now consumes 27.5% of the worlds luxury goods. This reflects the economic power of this mighty country. Currently, the largest consumer is Japan.
Most of the luxury goods bought are western products just because China in itself does not have any big luxury brands. In-spite of having products like Maotai, Wuliangye and Shuijingfang; fashion labels like Septwolves, Baoxiniao, Bosideng and Yongzheng; and jewelry labels like Dongfangjinyu and Nobel Jewelry which are extraordinarily priced, the demand for western luxury brands is more because of the historical connection and their global recognition.
Thus, luxury is not only about price but also about BRAND!

Rogues

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