A shopper looked at bags at a store in Hong Kong.
China’s luxury boom is going online.
As the overall sector struggles amid a government crackdown on ostentatious spending and gift-giving, the urge to splurge online is growing strong, according to a study by consulting firm KPMG.
KPMG found in a survey of 10,200 online consumers in China that the respondents spent an average of 1,397 yuan (US$229) on their most recent purchase of a “luxury or premium” item, with one in six saying they spent more than 2,000 yuan on that purchase. The researchers didn’t define “luxury or premium,” letting survey respondents interpret the label themselves.
Almost three-quarters of survey respondents said they preferred to shop online because they could land a better deal, while 55% said they preferred it because it’s less time-consuming. Another 47% said it guarantees authentic American or European origin of goods.
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