Retail in Asia

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Mandarin becoming the second language of luxury

Mandarin is slowly becoming the second language of business, according to not one, not two, but three articles in The New York Times over the weekend. A front-page story in Sunday’s paper noted that high-end retailers have begun to employ salespeople who speak Chinese to handle the rising numbers of well-funded tourists from the People’s Republic.

The average Chinese visitor, the article says, drops USD6,000 during his or her stay. Due to taxes their government puts on luxury goods, Chinese shoppers can get more for less in the US and Europe.

Some Chinese come to these shores for longer stays, making Mandarin a growing necessity for real-estate agent in New York’s Long Island suburbs, adds an article in the Times real-estate section.  The forces that are keeping home prices depressed in the US don’t pertain to buyers from booming economies like Russia’s, Brazil’s, and, of course, China’s.
 

(Source: CNBC)