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The latest McKinsey report on luxury goods is great news for exporters

By 2015, it predicts that the Chinese market will represent 20% of the world market for luxury goods. What are luxury goods? Anything from clothes, wine & spirits, shoes, perfumes & cosmetics, expensive cars, basically anything that can show off a persons wealth or even expression. The McKinsey research found the following key features; 1. Shift in attitudes, with Chinese consumers feeling more comfortable about purchasing luxury goods. 2. Chinese consumers are more sophisticated in their purchase choices that they used to be. This means more consumers recognize brand names and can distinguish quality features that define why high end brands…

Why would the Chinese want organic?

For centuries, the Chinese have purchased their daily ingredients such as fruit, vegetables and meat from local fresh produce markets. More recently, due to urbanisation, we are now seeing supermarkets gain popularity and the trend to purchase weekly is slowly becoming more convenient for busy commuters. In the past, little attention was paid to the origin or treatment of the food, as fresh was simply considered the best form. Whilst fresh is still a major consideration, Chinese consumers are now more focussed on food safety, health and diet. The spate of food quality incidents and a heightened awareness of the…