Study finds that Chinese consumers are more willing to purchase luxury goods online. According to the sixth edition of the 2015 China Luxury Forecast released by Ruder Finn and the IPSOS Group. 

In the report noted that shoppers in both mainland China (57 percent) and Hong Kong (54 percent) reported greater confidence in purchasing luxury online over the past year. However, both groups still raised concerns over service, trust, and overall professionalism of the website when asked about the credibility of online stores. 

Luxury Goods

The majority of Chinese shoppers (81 percent in Hong Kong and 78 percent in mainland China) said they still preferred to visit physical stores before deciding to purchase to seek further product information and check product attributes.

Germans spend a lower percentage of GDP on luxury goods than do consumers in France, Italy, and other countries. But that may be changing, as German sales of high-end goods increase faster than the global rate. According to German business magazine “Wirtschaftswoche,” which recently partnered with a consulting company to define just what “German luxury” means.

Much of the global luxury industry operates on terminology defined by global banking giant HSBC, which releases an annual luxury report that splits the luxury sector into two categories: hard (such as watches) and soft (apparel).

In contrast, the list by Wirtschaftswoche and its partner, Biesalski & Company, broadens the meaning of luxury and embeds it in a German context. The list of German luxury goods includes glassware and porcelain, cars, cutlery, ornate lamps, bespoke kitchens and kitchen appliances, bathroom interiors, cameras and camera lenses, and furniture.

Some of the top brands on the list include Länge & Söhne watches, Porsche automobiles, Gaggenau ovens, Meissen china and Decon garden furniture.

photo credit Shanghai Tang