Forecast finds consumer confidence back to luxury

币游国际官方

2021-06-10

Touristsshopataduty-freeshoppingmallinSanya,SouthChinasHainanprovince,onMarch12,2020.[Photo/Xinhua]Consumerconfidencehasreturnedtopre-COVID-19levelsintheluxuryindustryontheChinesemainland,withdigitalchannelsandGenerationZconsumersbeingthemaindrivingforces,,releasedbyRuderFinn,aleadingintegratedcommunicationsconsultancy,nearly41percentofrespondentssai,500c($224,434)taintheirspendingonbeautyandcosmetics,,,excludingwatches,wereamongthekeypurchases,seconsumers,etter,purchasepatternsandlifestyles,with65percentoftherespondentsoptingtobuyhigherqualityitems,while59percentprefertobuymoreluxuryitemsastheywanttotreatthemselvesbetter,,COVID-19hasfurtherhelpedacceleratetheuseofdigitalchannelsamongconsumers,with55percentoftherespondentsindicatingthattheyprefertouseonlitopchoiceforonlineshoppingamongconsumers,,consumersdeferredtheiroverseasshoppingplansandturnedtheirfocustoinboundshopping,makingShanghai,Beijing,Guangzhou,,,orthoseagedbetween21and25,havebecomeanimportantforceinluxuryconsumption,andarespendingmoreonluxurygoodsthat"improvelifequality".GenerationZconsumersaresignificantlymoredependentononlineinfluencerrecommendationsthanolderrespondents,asonly6percentofthemgetluxuryinformationfromtelevision.。