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Chinese travel overseas for luxury goods: survey

Source:   Time:

HARBIN, Jan. 23 (Xinhua) -- An increasing number of Chinese consumers are travelling overseas to buy luxury items, according to a survey released on Tuesday.

Research carried out by audit, tax and advisory firm KPMG found that the number of Chinese consumers travelling overseas increased to 71 percent of those surveyed in 2012, from 53 percent in 2008.

Among those who travel overseas, 72 percent said they purchased luxury items such as cosmetics, watches and bags, according to the survey.

About 1,200 Chinese consumers aged between 20 and 44 across 24 cities took part in the survey. The participants had a minimum household income of 7,500 yuan (1,190 U.S. dollars) per month in first tier cities and 5,500 yuan elsewhere.

When buying cosmetics and perfume, 60 percent of respondents said Hong Kong, Taiwan and Macao were their top locations, compared with 43 percent in 2009. Europe saw a marked increase, up to 20 percent in 2012, from 3 percent in 2009.

Chinese consumers also distinguish among countries of origin and associate certain nations with particular products.

The survey highlights a strong association towards European heritage brands: Switzerland came top for watches, France for cosmetics, perfumes, clothes and bags, and Germany for cars, said Nick Debnam, Asia Pacific Chairman, Consumer Markets, KPMG China.

The survey results may lead to luxury companies adjusting their brand and marketing strategies for Chinese customers, Debnam added.

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