Most Americans are not very interested in designer bags, jewelry and watches. A pair of jeans and a T-shirt represent the classic American culture. In America, the richest people don't buy dozens or millions of watches. When people buy things, they see higher cost performance, not more expensive. But in China, we found that the higher the price, the better the sales. Everyone likes to buy expensive things, whether it's clothes, watches, electrical appliances or even wine. Behind this, I think there are more profound social development factors.
Former foreign capitalists need this kind of thing to show their class. Later, luxury goods lost this function, because many ordinary people began to pursue this kind of thing and were crazy about it.
The rapid economic development has provided sufficient financial support for Chinese people to pursue luxury goods. Moreover, the improvement of personal quality of life is far more important than the change of family quality of life! Of course, it has something to do with your circle and class.
Half of LV's global sales are bought by people in China. Of course, the place of sale is not necessarily China, and China people are the number one luxury consumers in the world. 60% of China people buy luxury goods overseas, not in mainland China. According to the statistics of the Institute of Wealth Quality, in 20 16, the global luxury consumption of China people reached120.4 billion US dollars, of which 92.8 billion US dollars (about 640 billion yuan) were luxury goods in consumption abroad.
The value of luxury goods lies not in the product itself, but in the sense of social identity it brings. Personal values in East Asian culture need social recognition. This is also the reason why luxury goods are particularly popular here. This phenomenon is particularly typical in Japan.
Of course, when it comes to the gap between the rich and the poor, the United States and China are similar, and the income of the richest 5% families accounts for 27.6% of the national total income. But the difference in consumption habits is largely due to culture. American culture advocates individualism and uniqueness, so it doesn't care much about other people's eyes. Americans advocate equality for all and don't like the feeling of being superior. The mainstream of their society is the self-reliant middle class, and there is not much spare money to squander. These reasons lead Americans to be indifferent to luxury goods.
Finally, I want to say that buying luxury goods should be rational. After all, many people are still students, and even most of them don't have stable jobs and high salaries. Don't let these dispensable things become a burden to the economy.