I-CROSS CHINA - 2016-01-17
BEIJING, Jan. 17 (Xinhua) -- For Chinese, online shops are quickly
evolving from simply a means to get a bargain to somewhere movers and
shakers can splash out on pricey clothes and accessories. According to a study published by auditor KPMG earlier this week,
Chinese buyers of luxury items are increasingly favoring online
retailers over brick-and-mortar stores, which will account for half of
Chinese luxury spending by 2020. Surveying 10,150 Chinese consumers of luxury goods in 2015, KPMG
found that nearly one third of their luxury spending was online. The respondents' average spend per luxury item was 2,300 yuan (350
U.S. dollars), and the averaged highest amount they said they would be
willing to spending online on each order was 4,200 yuan, more than
double the figure in 2014.
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