Thursday, June 04, 2015

Chinese move away from luxury commodities – Shaun Rein

Shaun Rein
Shaun Rein
Gone are the days when China´s rich moved to the same Gucci stores to purchase the same bling bags. For travel organizers these trends to individual choices creates a group of very demanding, but also very lucrative customers, says business analyst Shaun Rein in TTGAsia.

TTGAsia:
“(The Chinese) are spending more on experiences and are looking to travel to new and more exotic destinations,” he observed. “Destinations like Antarctica, South Africa and Canada are hot as they allow consumers to get back to nature and share those experiences on WeChat.” But while the Chinese are now widening the scope of activities on their vacations, the high spending powers still makes this group a very attractive one to tourism stakeholders. Rein commented that the Chinese are now moving from buying luxury products that can be bought by anyone else, to buying brands that show their individualism and creativity. 
“Over the past five years, the Chinese consumer...rushed to buy Louis Vuitton and other luxury items to show status that they belonged to the elite group,” he said. 
“This is changing... Bling is out, experiences are in, especially in international travel, but the spending is still there.”
More in TTGAsia.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.
Are you interested in more experts on China´s rich at the China Speakers Bureau? Do check out this list.
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