The Shift from a Local to a Global Consumption Pattern in the Drivers of China's Luxury Consumption

DOI

10.2991/mmetss-17.2017.32How to use a DOI?

Keywords

China's luxury market, China's contemporary luxury industry

Abstract

This research paper aims to identify and discuss the main drivers of why luxury spending growth in China has moved from a local to more of a global consumption pattern. A PEST analysis has been applied to investigate China's contemporary luxury industry by separating the context into political, economic, social, and technological dimensions. A comprehensive and in-depth understanding of China's luxury market has been gained by examining China's luxury market reports and articles between 2011 and 2016 from Bain & Company, McKinsey Company, and KPMG. The results of this investigation and analysis provide up-dated information and an understanding of the events in China's luxury market and consumption. This research is valuable for assisting and alerting global luxury companies in China to adapt to this new trend and rethink their marketing strategies in China. Additionally, this research will encourage further research into the domino effects triggered by this shifting pattern.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Jiacheng Liu
AU  - Carl A. Boger Jr.
PY  - 2017/07
DA  - 2017/07
TI  - The Shift from a Local to a Global Consumption Pattern in the Drivers of China's Luxury Consumption
BT  - Proceedings of the 2017 2nd International Conference on Modern Management, Education Technology, and Social Science (MMETSS 2017)
PB  - Atlantis Press
SP  - 163
EP  - 174
SN  - 2352-5398
UR  - https://doi.org/10.2991/mmetss-17.2017.32
DO  - 10.2991/mmetss-17.2017.32
ID  - Liu2017/07
ER  -