Tuesday, 1 December 2009

Chinese Big Spenders Zero In On London – 1/12/09

A Times Online article on Chinese consumer habits in London attracted our interest today. It reveals that “Chinese shoppers were the highest-spending nationality on Bond Street” during the summer.

Also, statistics by the New West End Company, which represents the retailers of Bond Street, Oxford Street and Regent Street, show Chinese nationals spent 127 per cent more this October than September. And across these three streets, the average Chinese transaction was £780 (AU $1,402), and £1,038 (AU $1,865) on the luxurious Bond Street.

The key luxury brands the Chinese gravitated towards included Louis Vuitton, Gucci and Burberry. These are all brands with strong, identifiable signatures and logos on their products.

In our eyes, London is an appealing luxury goods destination for Chinese shoppers due to the exchange rate, its number of stores, and the wide variety of brands available.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au