Wednesday, July 22, 2009, 6:09:49 PM | Reprinted with permission from chinaluxculturebiz

Middle Class Estimated At Upwards of 150 Million And Growing; Consumers Hungry For Entry-Level Luxury Products That Offer Status As Well As Quality
 
Spending by China's middle class is expected to grow exponentially in the next 20 years.

Tuesday, June 16, 2009, 11:35:52 AM | Reprinted with permission of  Chinaluxculturebiz

Daimler hopes growing demand in China will offset plummeting demand in developed markets.

Monday, June 22, 2009, 11:13:32 AM | Reprinted with permission from chinaluxculturebiz

As Ranks Of High Net Worth Individuals Continue To Grow, Luxury Marketers Need To Adapt Creative Techniques For Chinese Market

A number of reports released this year have identified China’s millionaire class as one of the world’s fastest-growing high-net-worth demographics, outpacing nouveau riche in other emerging economies like India and Russia. With China’s massive economic growth over the past 30 years, and vast population size, this is no big surprise.

2009-06-22 06:37:18 | Reprinted with permission of Steve Copia

“Marketing luxury brands to the rich is complex enough. But it could be a real challenge marketing to the new rich in emerging markets?"

Background: According to the Merrill Lynch - Capgemini 12th Annual World Wealth Report, assets of High Net Worth Individuals (HNWIs) rose to $40.7 Trillion. In case you’re wondering a trillion has nine zeros. Average HNWI Wealth was more than $4 Million each for the first time; The world’s High Net Worth population now stands at 10.1 Million individuals. Guess what India, China and Brazil have the highest HNWI Population Growth.

June 17, 2009 | Online Travel

Hotels.com has launched a new local language site in China. The site, accessible via hotels.com or hotels.cn, offers local currency pricing and payment methods.

Wednesday, April 22, 2009, 5:08:31 PM | Luyi Chen

Google News Chinese Version has just released subchannel, reported Google China Blog. This is the first step in all its language versions. For example, Sci/Tech channel now includes two subchannel, digital and science. Basically all channels have around three subchannels now.

July 13, 2009 · www.chinaluxculturebiz.com 
Golf Course Developers, Tour Organizers Betting On Huge Potential Demand in The Chinese Market
 
China is rapidly becoming one of the world's fastest-growing markets for golf

We have written before on the vast potential that many golf course developers and organizers see in the Chinese market, where the number of golfers has risen exponentially over the last 10-15 years (and continues to rise rapidly). With world-class courses already existing near Shenzhen and Hong Kong, and more expected to be completed in the next few years, it looks like China is already well on its way to becoming one of the world’s great golf destinations.

BY KATY STECH
The Post and Courier
Monday, April 27, 2009

Faced with lukewarm reception in the United States, some luxury real estate firms are taking their pitches abroad. That's how a bewildered Melissa Harrington recently found herself at an expo in Beijing where U.S. real estate firms and developers set up booths to market properties to Chinese investors.

July 25, 2009 | Reprinted with permission from chinaluxculturebiz
Country Overtakes US In Luxury Spending, Purchasing Nearly A Quarter Of The World’s Luxury Goods Sold In 2008

The World Luxury Association reports that spending on luxury products of all types in China has surpassed that of the United States, with wealthy Chinese spending $8.6 billion on luxury goods inside the country. Figures do not account for Chinese tourists buying luxury products overseas.

In the first quarter of 2006, the Chinese economy grew 10.2%. With the increase in growth in the Chinese market and the constant continued growth being forecast for the future, it's wise for western businesses to research what the Chinese market wants and needs before dipping their toe into the Chinese market. Here are the current trends in the Chinese marketplace: