Analysis of Chinese Luxury Consumption and Consumer Behavior

Yabing Li

Bachelor's thesis

Abstract:

Since China's entry into the World Trade Organization at the end of 2001, China's luxury consumer market has developed rapidly, and international luxury brands have entered the Chinese consumer market one after another, attracting global attention. Data show that the global luxury market size in 2018 was approximately US $ 347 billion, of which China The consumption of luxury goods is as high as the US $ 145.7 billion, accounting for 42% of the global luxury consumption scale. This shows that China plays a significant role in the world's luxury consumer market. Such a huge luxury consumer market is an opportunity and a challenge for China. The luxury market has a huge driving force for the Chinese market, but at the same time, many problems have been exposed during the development of the luxury market. Chinese luxury consumption The behavior of consumers is not exactly the same as that of Western consumers. Therefore, the study of the behavior of Chinese luxury consumers and the influence of deep culture must pay more attention. Based on the above background, this article conducts a comprehensive analysis of the status of Chinese luxury consumption.

Keywords

Luxury Goods, Consumption Motive, Chinese consumer behavior

Language used: English

Date on which the thesis was submitted / produced: 20. 3. 2020

Thesis defence

• Supervisor: Ing. Lenka Rumánková, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme / field:
Economics Policy and Administration / Business Administration