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Are luxury goods cheaper in China? | Yahoo Answers why are luxury watches cheaper online

Are luxury goods cheaper in China? I'm going on holidays to China and want to know if branded wallets, handbags, sunglasses, watches... are cheaper there than what we can get in the US and Canada? I know Hong Kong is very expensive, but I'm also going to Beijing, Changsha, Shenzen, and other tier 1 and 2 cities. Is it worth it getting... show more I'm going on holidays to China and want to know if branded wallets, handbags, sunglasses, watches... are cheaper there than what we can get in the US and Canada?

I know Hong Kong is very expensive, but I'm also going to Beijing, Changsha, Shenzen, and other tier 1 and 2 cities.

Is it worth it getting Louis Vuitton bags or Chanel glasses there, or is it cheaper at the duty free at the airport?

Thank you! Follow 11 answers 11 Report Abuse Are you sure that you want to delete this answer? Sorry, something has gone wrong. Trending Now Answers Relevance Rating Newest Oldest Best Answer:   If you are asking about authentic luxury goods, buy it anywhere except in Hong Kong.
I visited Hong Kong expecting a Shopper Paradise and it was the exact opposite.
While in Hong Kong, I wanted to buy a pair of boots and visited a Nine West store in the mall, I wanted to shop from a brand I trusted, the boots there were a lot more expensive.

If your asking about knock off or imitation, I found the best prices and selection in Beijing at the Silk Market. Haggle your azz off, they will go down almost to 60-80% off the original price they asked.
Example: LV wristlet (decent quality) asking price $40, I got her down to $12.

Tip: Bring a carry on with you, because you will buy that much stuff and it beats carrying all the bags. Source(s): I Love China Asian Mami · 7 years ago 1 Thumbs up 1 Thumbs down Report Abuse Comment

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· just now All luxury brands sold in their own stores basically have the same marked prices in every export market, the small differences are due to fluctuation of currency exchange. However the selling price you see in China, or UK for that matter, includes import duty, sales tax, value added tax etc. too. Therefore when it comes to luxury brands, Hong Kong is the cheapest because this city does not have all the above mentioned taxes. At the same time in Hong Kong there are individual independent stores that sell a variety of luxury hand bags at a discount, they are brought in directly from Europe, not through authorized dealers. As for Duty Free, they are basically the same price in every store. longliveabcdefg · 7 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now when it comes to authentic luxury brands, Hong Kong is the cheapest because this city does not have al IWC-Saint-Exupery/cgi-sys/IWC-Saint-Exupery/IWC-Saint-Exupery/loimvusl. who makes the best replica watches in the worldl the taxes like other country

but if you want to buy replica bag, then china is your no.1 destination
you can bargain too for cheaper price

if you want to buy bags online from china,
i suggest you visit zhoping.com ? · 7 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now Actually the luxury goods are more expensive in China, as they are levied with high custom fees and some taxes when they are imported. It should be cheaper at the duty free l s · 7 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now Being may be the capital of China and also its political, economic, and national middle and you have the chance to see it now, search with hotelbye . Beijing is definitely one of the very most visited cities in the world. Each year, countless visitors come to Beijing to see the truly amazing mixture of old and new. Beijing is just a town for all seasons. You can generally discover something for you personally no matter what time you are in Beijing and whatsoever your pursuits are. It takes time to enjoy precisely what Beijing Town provides but positively you cannot eliminate the opportunity to see Tiananmen Square. Positioned in the heart of Beijing, Tiananmen Square is the website for massive parades and rallies and the biggest square of this kind in the world. ? · 11 months ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now Luxury Goods are only cheaper when sold in their own country...
Replica with low quality and looking for embarrassment. Buy at China replica market. yuan · 7 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now actually mainland chinese people are flooding to hong kong because luxury goods like LV and gucci and branded goods are much inexpensive.

the inflation in china is slowly killing everyone Dato Sri Charlie · 7 years ago 1 Thumbs up 0 Thumbs down Report Abuse Comment

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· just now China is famous for knock offs "fakes" so be careful if you buy any luxury items that have a great price point ..... make sure they are authentic. Likeitornot · 7 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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cheap 2014 new louis vuitton sunglasses online 0107 https://s.yimg.com/tr/i/161a14cc3a174f18b544cc5f977550cc_A.jpeg Anonymous · 3 years ago 0 Thumbs up 0 Thumbs down Report Abuse Comment

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breitling navitimer Why are luxury goods more expensive in China? ( People's Daily Online ) 08:21, August 16, 2012 Photo/Chins Daily) More and more Chinese people are traveling abroad to buy luxury goods. Various luxury stores in the United States and Europe have become must-visit places for outbound Chinese tourists, and it seems that one has not truly been abroad until he or she buys several luxury goods overseas. In fact, most luxury brands have stores in China.

Why do Chinese consumers go all the way to another country to buy products that are also sold in China?

Because international luxury brands have long set much higher prices for their products in China than in many other countries, forcing Chinese luxury consumers to turn their eyes to foreign markets.

Why luxury goods are cheaper overseas

The retail price of a Chanel Timeless Classic Flap bag is 3,100 euros, or 3,839 U.S. dollars, in France, but is marked up 34 percent to 37,000 yuan, or 5,850 U.S. dollars, in China. The price of a Louis Vuitton Speedy 30 bag that sells for only 500 euros, or 619 U.S. dollars, in Europe is marked up 36 percent to 6,100 yuan, or 964 U.S. dollars, in China. The prices of same products vary considerably from country to country.

No wonder Chinese consumers are flocking abroad to buy luxury goods.

In fact, luxury goods in China are not only priced high, but also rarely discounted. By contrast, it is common to see discounted luxury goods in certain foreign countries.

Ms. Lin who lives in France said that major luxury brands such as LV and Gucci often offer discounts of 30 percent to 50 percent on many items during holidays and festivals. Many Gucci bags sell for around 300 euros in Europe, while the price of the same bag is usually marked up about 50 percent to 5,000 yuan in China. In addition, off-season luxury items are often sold a discount in certain foreign countries.

"As the prices of luxury goods are much higher in China than in many other countries, many people are traveling abroad to buy large amounts of luxury goods," said Yi Shaohua, an associate research fellow at the National Academy of Economic Strategy under the Chinese Academy of Social Sciences, adding that the Chinese people have spent the most on luxury goods overseas for several consecutive years.

According to a Bain & Company's report on China's luxury market, Chinese spent 50 billion U.S. dollars on luxury goods overseas in 2010, which was nearly five times more than luxury goods sales in China, making the country the world's largest consumer of luxury goods.

Taxes and marketing costs significantly pushed up the prices of luxury goods

China is gradually replacing the traditional European and American countries to become the main force of luxury consumption. The international luxury brands have also paid more and more attention to Chinese market. Why are the luxury goods more expensive in China than in other countries?

Taxes, distribution costs and marketing costs are the main reasons, said Zhou Ting, expert of luxury goods and dean of Research Institute for Fortune Character. The distribution costs, namely the circulation costs, refer to rents and managing fees. The annual reports of the luxury groups show that the marketing cost accounts for a large proportion of the cost price of luxury goods and even is higher than it.
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Email | Print | Comments (Editor:李倩、厉振羽) Increases the bookmark twitter facebook Sina Microblog digg Google Delicious buzz friendfeed Linkedin diigo reddit stumbleupon Qzone QQ Microblog Related Reading Luxury rental biz may be a future trend HK luxury retailer eyes expansion in mainland China's BYD unveils luxury sedan amid gloomy outlook US chain eyes luxury business Net-a-Porter launches Chinese website S. China to host luxury fair in April China scores in timely move What lures Chinese to spend on luxury goods overseas? Hot News Japan must protect Chinese embassies, personnel: FM Aircraft carrier to boost China's rise China, U.S. militaries hold annual maritime security meeting PLA issues Regulations on Management of Non-Military Personnel Twists and turns for Chinese SOEs abroad Chinese steel producer buys ThyssenKrupp's subsidiary Top 10 nude models in China Exploring hiding place of 'The Orphan of Zhao' Leave your comment 1 comments Name wende at 2012-08-18 71.255.83.* It is become Chinese consumers are too much in a huury to beat everybody else to have such items. Producers and marketers will have to bring down their prices if the demand is less than supply. In China, demand is several times more than supply. Therefore, marketers will not offer 'sale'. The west knows Chinese just grab whatever foreign made they can lay their hands on. Therefore, their products are sold at MSRP (manufacturers' suggested retail price) to Chinese consumers and they make tons of profit.   

The Economist explains China's addiction to luxury goods The Economist explains Apr 30th 2014 by S.N.

twitter icon facebook icon linkedin icon mail icon print icon ASK any luxury retailer where their most valuable customers are from and most will say China. The post-2008 years have not been the easiest for luxury brands, but China's apparently unquenchable thirst for all things bling has made up for the slowing down of European consumption. By some estimates, half of the world’s luxury spending will come from Chinese wallets by next year. The Chinese taxman, however, is missing out on the splurging: around two-thirds of luxury products bought by Chinese (and often made in China) are purchased outside the country. Why do the Chinese spend so much on luxury goods abroad?

The Chinese only recently started making enough money to splurge. Now, with the middle classes expanding fast and the number of millionaires soaring (2.8m at the latest count), they have been catching up rapidly. In a country that is finely attuned to social-status signals, branded goods and sophisticated travel are high on many people's wishlists. Global Blue, a retail-tourism company, found that for 82% of Chinese travellers shopping was a crucial part of their travel plans. In Britain they spend nearly £1,700 ($2,800) per person per trip, three times the market average. Much of it is spent on shopping; Chinese tourists have no problem buying Prada by day but sleeping in two-star hotels by night.

Latest updates Speakers’ Corner signs off Speakers’ Corner 25 minutes ago American Airlines reverses a pledge to squeeze legroom further Gulliver 3 hours ago Retail sales, producer prices, wages and exchange rates 4 hours ago Foreign reserves 4 hours ago The EU’s new roaming rules The Economist explains 10 hours ago Sanctions in the Middle East are bad for airlines, worse for travellers Gulliver 17 hours ago See all updates The main reason why they buy abroad is price. Hefty import tariffs and consumption taxes, as well as higher pricing strategies, can increase prices in China to 50% more than a shopper would pay elsewhere. According to LVMH, a French luxury conglomerate, a Louis Vuitton handbag costs 30% more in Beijing than in Paris. A guarantee of authenticity is another reason why the Chinese prefer European or American stores over their own. Bragging is also part of the story: people want to show they have been abroad, which is why “Made in Italy” labels outrank “Made in China” ones, says Wan-Yu Cho, a Mandarin-speaker who works at Bicester Village, an out-of-town shopping area in southern England. Bicester’s Chinese customers account for 42% of its total tax-refunded sales; last year their spending grew by nearly half. Finally, because giving presents (another form of bragging) is often the reason why Chinese tourists buy luxury goods, a successful man (or increasingly woman — Bain, a consultancy, estimates that women now account for half of Chinese luxury spending, up from 10% in 1995) simply cannot return home without a sizeable excess-luggage bill.

The slowing Chinese economy and an official crackdown on corruption and lavish gifting has tempered the luxury market after years of double-digit growth. The time where $800 bottles of wine were imported by the plane-load is coming to an end. But whereas ostentatious displays of wealth may be less common at the top end of the market, the new Chinese middle classes still see luxury goods as a way to show they have made it. “Dior” and “Rolex” remain popular search terms on Chinese microblogging sites. What’s more, says Scott Malkin of Value Retail, the company which runs Bicester and eight similar shopping villages in Europe, the Chinese also shop abroad for the “experience” and the stories they can tell afterwards. (Bicester has red telephone-booths where people line up for pictures.) The Chinese shopping-spree looks set to continue.

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