China red hot for luxury

MANAGEMENT GURU

First Goldman Sachs and now Credit Suisse; both are ready with their version of statistical estimation of the consumption behaviour of the Chinese. In 2005, Goldman Sachs predicted that by 2015, China would top the global list in terms of consumption of luxury goods. A survey conducted by Credit Suisse in 2006 further vindicates the prediction made by Goldman Sachs; the survey results reveal that by 2015 China will overtake Japan, Germany, Britain and Italy to become the second largest consumer goods market globally, just behind USA. Robust economic growth, increasing population and accelerating urbanisation have been cited to be the major
forces propelling the consumption behaviour.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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