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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 219

China Business Intelligence No. 219

Samsung Economic Research Institute Beijing Office

Dec. 18, 2012

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Based on the continued growth of its luxury goods market, China has now emerged as the world's second largest market. However, contrary to advanced markets, the disparity between consumers' consumption history and maturity in China's luxury goods market is extreme. Increases in the consumption of luxury goods and the quality of consumption have exacerbated the uneven growth of China's consumer groups. The deepening internal division of China's luxury goods market has highlighted the need for tailored brand strategies aimed at consumers with differing consumption levels and consumption capabilities.

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