Why Chinese People Have A Penchant For Upmarket Brands?
In 2018, the consumption of high-end products by the Chinese at home and abroad totted up to 770 billion Yuan, accounting for one-third of the total sales of luxury goods in the world. On average, each Chinese household spends nearly 80,000 Yuan on the luxury items, twice as much in French or Italian families. China has witnessed over half of the global luxury goods sales during 2012-2018 and by 2025, the Chinese are expected to lash out 1.2 trillion Yuan on the upmarket prod
