Advertisement
Tech

Luxury shoppers in China spending 28 per cent more per online purchase than in 2014, study shows

While economy slows, luxury shoppers spend 28pc more per online purchase than in 2014

Reading Time:4 minutes
Why you can trust SCMP
China's luxury market is estimated to have stood at 115 billion yuan last year, down fractionally from the previous year due to a government crackdown on officials' lavish spending. Photo: AFP
Bien Perez

Unfazed by the country's economic slowdown, luxury shoppers on the Chinese mainland have increased their purchases online as a range of e-commerce options provide attractive deals - from cosmetics and clothes to cars and property.

That trend was uncovered from a joint survey of 10,150 luxury consumers in China by global professional services giant KPMG, online luxury retailer Mei.com and Chinese media firm Sina's Nasdaq-listed micro-blogging service Weibo. The survey was called China’s Connected Consumers 2015.

READ MORE: China's No 2 e-commerce player JD.com sees new Hong Kong office as conduit to Asia, stepping stone to investments overseas

"The pace of change in today's marketplace in China is taking retailers and brands by surprise," Egidio Zarrella, the clients and innovation partner for China at global professional services giant KPMG, said on Tuesday.

Advertisement

The new KPMG-led study found that the average spending by mainland luxury shoppers has increased 28 per cent to 2,300 yuan (US$362) for each single e-commerce purchase, up from 1,800 yuan average in last year's survey.

Advertisement

It also found that 45 per cent of respondents in the latest survey said they have bought many luxury items online.

Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x