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when you own a luxurious item
更新日期:2022-07-20     浏览次数:76
核心提示:As more people are born and raised, the middle class will expand, creating a wave of new incoming customers. The average income increase alm

As more people are born and raised, the middle class will expand, creating a wave of new incoming customers. The average income increase almost threefold from 37,000 to just under 100,000 in ten years. This means more people who have the ability to afford a couple of luxury products like a LV bag or Burberry scarf. Some customers think of luxury purchases as a investment, bring value to heritage brands according to a “longitivtiy” factor .

One of the main reasons for this behavior is called "mianzi". In Chinese culture, “mianzi” translates to your face,  which recognizes your social status. It is based on your background: your job, outfit, accessories, etc. Therefore, when you own a luxurious item, you have “mianzi” to go out to meet friends or just walk out of the door.

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