Retail in Asia

In Sectors

Design outlet operators put faith in China’s 2nd- and 3rd-tier cities

Chinese consumers are buying more as luxury brands continue to expand their presence in second- and third-tier cities.

A survey conducted jointly by Ruder Finn and Ipsos in June, found that consumers in first-tier Chinese cities preferred to shop locally when buying luxury products. According to Jean-Michel Dumont, chairman of Ruder Finn Asia, there has been a marked slowdown in terms of investment and a change in the shape of the retail as luxury houses switched from a presence in small-scale boutiques to custom-built houses in hub cities such as Beijing and Shanghai.

Meanwhile, design outlet operators in China remain optimistic about the market.

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(Source: scmp.com)