Chinese luxury shoppers are increasingly turning to buy online, according to a recent study published by KPMG. The study conducted surveys with 10,150 Chinese luxury consumers in 2015.
In the study, KPMG found that nearly one third of Chinese luxury consumers would choose to shop from online retailers instead of brick-and-mortar stores.
The respondents’ average spend per luxury item was 2,300 yuan ($350), and the averaged highest amount they would be willing to spending online on each order was 4,200 yuan ($638).
Women products are the main consuming items, according to the study. The best-selling items were cosmetics, women’s shoes, bags, leather products, women’s clothes and accessories.
In terms of the shopping destinations, overseas online retailers were more preferable to domestic ones by the Chinese luxury shoppers. Two thirds of online shoppers responded that they purchase more from aborad.
The foreign exchange is another factor impacting the Chinese luxury online shoppers’ purchasing decisions. KPMG indicated that the Chinese consumers will move fast to take advantage of opportunities presented by changes in foreign exchanges.