The elite Chinese aren’t just world travelers; they also have a penchant for indulging in luxury brands.
China Daily reported, “While the rest of the world cuts back on spending, Chinese consumers bought 47 percent of all luxury goods in the world in 2013, according to a report by Fortune Character Institute. It said about $102 billion was spent on high-end goods by Chinese shoppers last year, making the county the biggest consumer of luxury items in the globe.”
According to the Hurun Report Chinese Luxury Consumer Survey 2014, there are 393 millionaires reported in the mainland area with a net worth of at least $1.6 million. These people are not part of the average Chinese population and do their best to set themselves apart.
This elite population cannot resist luxury brands. They prefer to adorn themselves in Cartier jewelry, dress their children in Burberry clothing, drive Rolls Royce and Mercedes-Benz, or Land Rovers and if they have a yacht, which 40% of them do now, they prefer the brand Ferretti.
Think these people mingle with common Chinese? Nope. They love their private clubs where they can mingle with their own. The most popular of these clubs is the Chang’an Club in Beijing. Special treatment is just what they’ll get there, in the comfort of cigar rooms, and luxurious surroundings.
If they are grabbing a drink during a business meeting, they are likely to order Royal Salute whisky, Martell or Hennessy Cognac XO, although Macallan is the single malt whisky of choice and Louis XIII is the most popular imported spirit.
If you would like to visit and people-watch this group, book a seat on China Air or Singapore Airlines and reserve a room at the famous Shangri-La Hotel, which they often use for business meetings and travels.