Pao Principle Study Shows That Luxury Market Has Less To Fear In The Next Year Than Expected
"Tiffany is King" in mainland China, according to Pao Principle. Tiffany opened boutiques in Beijing & Shanghai in 2006
With luxury retailers looking for any good news in a still-tough market, studies by several organizations in recent months have shown that things are a little less ghastly than expected, particularly in Asian and other emerging markets. The newest of these studies, carried out by business consulting firm Pao Principle, indicates that recent spending trends in mainland China should please luxury handbag, watch, and jewelry producers.
From Travel Agent Central:
According to…Pao Principle, almost 90 percent of individuals surveyed had bought a designer handbag in the past 12 months. Unsurprisingly, men accounted for luxury watch purchases at a ratio of almost two to one over women.
Out of those surveyed who had purchased fine jewelry, Tiffany was king, with almost a third of Mainland Chinese who had purchased fine jewelry in the past 12 month turning to the store for their wares. Necklaces were the accessories of choice, with “white gold” reigning supreme in overall jewelry purchases.
Posted in Business, China, Culture, Luxury
Tagged affluence, China, chinese, jewelry, Luxury, luxury market, pao principle, study, survey, tiffany, tiffany & co, wealth
Macau, Having Already Surpassed Las Vegas As A Gambling Destination, Sets Its Sights On Cultural, Culinary Offerings To Lure Tourists
Macau has quickly established itself as the "Vegas of the East"
Read more here.
Since its handover in 1999, Macau has rapidly become one of Asia’s top destinations for gambling, luring thousands of gamers from mainland China and Hong Kong. If Macau’s tourism department has its way, though, the city will soon be as renowned as a cultural destination as well — playing on its unique blend of Portuguese colonial and Chinese culture, architecture, and culinary traditions. Although construction of luxury apartments and casinos has slowed somewhat due to the global economic crisis, the city looks at the continuing growth of the Chinese tourist as a way to buoy a relatively sluggish tourism season.
Macau is unique in that it has, much like neighboring Hong Kong, combined two disparate cultures over the centuries to the point where they no longer seem distinct but instead form the one-of-a-kind Macanese culture. The city has also combined the entrepreneurial, fast-paced culture of China’s biggest cities with a fascinating mix of people, cultures, and languages, making this one of the world’s most exciting, truly global cities. The city has also become one of East Asia’s luxury hubs.
Posted in Business, China, Culture, Fashion, Luxury
Tagged afrikana, asian, China, cirque de soleil, coach, Culture, european, gambling, gucci, Luxury, LV, macao, macau, manolo, MGM, portuguese, prada, shopping, tiffany, tourneau, venetian, versace