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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4934)	5/25/2005 12:42:37 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Update 1: Survey Shows Chinese Outspending Japanese 05.25.2005, 04:11 AM Retailers take note: You might want to brush up on your Mandarin. Chinese are now outspending Japanese on overseas shopping trips, blowing an average of US$987 (euro782) on designer clothes, cosmetics and other items each time they go abroad, according to a recent survey. Rising incomes and loosened government restrictions allowed 29 million Chinese to travel overseas in 2004, a 43 percent increase over the year before, according to the survey by market research firms ACNielsen and Tax Free World Association. Although Chinese spend less altogether on their overseas trips than Japanese travelers, they splurge more at the shops, accounting for about 30 percent of their total spending, according to the survey, released last week. "With increased disposable incomes, the Chinese are turning to overseas travel and exploring new and interesting places," Glen Murphy, ACNielsen's managing director for China, was quoted as saying in a news release. "Their enthusiasm for travel is a welcome sign, not only for holiday operators, but for related industries such as luxury brand owners and duty free shops," Murphy was quoted as saying. While the spending figures may be good news for foreign retailers, they're far from representative of China's 1.3 billion people as a whole. About 800 million Chinese still live in the countryside, where incomes linger at a few hundred dollars (euros) a year and foreign travel is all but unheard of. Even in China's three wealthiest cities of Beijing, Guangzhou and Shanghai, where the survey was conducted, only about one in 10 residents has traveled abroad. Of those who do go abroad, 69 percent are women and 36 percent are in their 20s - groups with the largest disposable incomes and the most extravagant spending habits of all Chinese. "With the greater percentage of travelers being women, they are more likely to shop and the younger travelers are more willing to try new things and are brand conscious," Murphy said. Asian countries and regions are most favored by Chinese shoppers, with Hong Kong the top destination by far. Over 70 percent of those surveyed who visited the Chinese-controlled territory said they did so mainly for shopping. However, those visiting European countries that were opened as official tourism destinations last year spent the most - an average of US$1,781 (euro1,412) per person per trip, the survey said. It said fashion, cosmetics and candies were the top three purchases by Chinese visitors, a contrast to European travelers who spend the most on alcohol, perfume and tobacco products. Industry experts say Chinese travelers tend to economize on hotel rooms and food. forbes.com