Many want to identify with America by owning a big-name American brand
In the old days when Mao suits were fashionable, sure. Not any more. The wealthy Chinese are not exactly lining up to buy Cadillacs these days. Quality and face (not necessarily in that order), more than anything, will drive the purchasing decision of products perceived to be high-end, not cost effectiveness, which is a western, and particularly American, concept. Believe me, those who can afford the product are not going to sit down and do a cost-benefits comparison. What may seem to be an irrational purchase for us may be just the thing for one to look good among one's peers, very face saving, if you get what I mean. I'm not just talking about the super wealthy here. It's a cultural thing among the general populace. This phenomenon is not just limited to China, it's also an Asian thing. Those Indians, when they get wealth, you think they will settle for a Xiaomi whatchamacallit? My money's on the iPhone ;-) |
