模版 2014.8 -英语论文期刊.docVIP

Great Power in Luxury Consumption: Opportunities and Challenges of China 国贸091班 孙悦 指导教师 于成学 Abstract: Stepping into 21 century, with the rapidly development of the economy, Chinese people are becoming richer and many of them are crazy about luxury consumption. According to the latest databases from WLA (World Luxury Association) in February 4th, 2012.By the end of December 2011, The total annual consumption of luxury market in China has reached $126 billion (not include yachts, private jets, and luxury cars), Occupy an equal share of 28% in the world, more than 1/4).Besides, during spring festival, Chinese people overseas luxury consumption has totally reached $172 billion. Record high point. Above the data to prove, Chinese people have become the most luxury purchasing power of consumer groups, Ranking first in the world. Keywords: China, luxury consumption, powerful in economy 1 The Overview of Luxury Market 1.1 Luxury Market in China As China’s economic powers on during the latest 30 years, so does its populations appetite for luxury goods. Luxury is now endowed with different representative things compared with 20c80s. For instance, chasing for products of top luxury brands or a high-standard fashion lifestyle梩he same level compared to other developed countries in the )world. For 2011, the number of consumers buying luxury goods in china has reached 16% of the whole population. That is about 200 million. The report also tells us that the growth will at the speed of 25% in the coming several years. Besides, the age of main streams consumption groups who are crazy about luxuries has appeared a younger trend梞ainly between 25 and 45. Above all statistics illustrhated that the ability of consuming luxury of China is continuously increased. 1.2 Luxury Market in the world According to《World Luxury Associations official report on 2011》,By the end of March,2011, the market share of the world luxury consumption has attained 187 billion pounds, totally raised 12%. Ba