Gifts For Our Loved Ones During This Season
In economics, a luxury product is something that is bought to a market that is not necessarily priced to sell. Therefore, in terms of economics, luxury goods are products that are overpriced relative to demand. In economics, a luxury product is typically a good whose supply increases more than percentageally to its demand, so that increased expenses on the item become a percentage of overall economic spending. In economics, demand is the driving force behind any market activity. And when demand exceeds supply, prices fall.
The recent slowdown in China and the global economic slowdown have led many to question the strength of the Chinese consumer base. But the recent slowdown in China should not deter Chinese consumers from purchasing luxury goods. Luxury goods such as fine jewelry and clothing still out-price their more affordable counterparts in many countries including the United States. Luxury consumers have become very wise to the advantages and disadvantages of purchasing top brands abroad. They realize that purchasing top brands enable them to receive the same excellent customer support as if they purchased those items in their home country, but with considerably better prices. This strategy of marketing luxury goods overseas has also lead to the increase in number of retailers specializing in the export of luxury goods to China.
As mentioned above, China is one of the fastest growing markets for luxury goods in the world today. It accounts for a large percentage of the world’s luxury consumer market. China’s economy will grow at a rate of 7% per year until it becomes an open market. If this growth rate continues then by the end of 2021, the world will have a huge superpower – the world’s largest economy. And it will be the biggest economy with the fastest-growing consumers.
Currently, China has the most powerful economy among the developed nations. This means that China has a huge market share in the luxury brands’ global expansion. The world’s second largest economy, India, is the second largest producer of luxury brands in the world after China. This gives India a relatively small market share, though, compared to China’s market share.
At present, China has the leading brands in the luxury goods market, especially handbags. Among the top-selling brands in China, there are several Chinese import brands: Bain, abo, iously, Chanel, LV, Mango, Mulberry, Burberry, Celine, Fendi, CZ and Tiffany & Co., among many others. Luxury goods buyers who want to purchase high-quality items at wholesale prices should visit some of these popular online sources. Here they can browse through various products offered by different brands and select the one which best suits their requirements. Chinese wholesalers offer a wide range of products at wholesale prices, which includes branded items, like sunglasses, shoes, watches, cell phones, cosmetics, bags, sports equipment, toys, electronic gadgets, jewelry and other consumer items.
Some of the most famous luxury brands in the world today, like Chanel, Gucci, Christian Dior, Fendi, Christian Lacroix, Givenchy, Versace, Louis Vuitton are the most preferred brands among the affluent consumers. The trend of gifting high-quality and classic luxury goods has become a popular choice amongst the affluent consumers. The gifting of such items, especially items of utility, will definitely add a touch of elegance and style to the gift items purchased. With the coming of age, many of the affluent consumers are now planning their Christmas gifts, from buying a luxury watch to buying an elegant sofa, to giving an extravagant gift to their loved ones.
The luxury brands are becoming more popular among the youth and elite consumers nowadays. Luxury brands are considered as a status symbol today. A simple search in any major search engine like Google, Yahoo! or MSN, for example, will give you almost unlimited results, listing of brands and their partners with whom you can do business. This trend of gifting exquisite items to our loved ones is not new; however, it has gained popularity with the passage of time.
The luxury brands are perceived as the most appropriate gift item when one wants to flaunt his or her wealth and taste to others. In this recessionary phase, the need of the hour is to gift something that will be of great significance to the recipients, and the only way to achieve this end is to select a luxury brand that has carved a niche for itself in the hearts of millions of consumers. Some of the most admired and preferred brands in the market today are: Burberry, Chanel, Celine, Dior, Dolce & Gabbana, Gucci, Kate Spade, Marc Jacobs, Louis Vuitton, Motorola, Prada, Revue Retro, and Timgie’s Totes. All these brands and their respective accessories are considered as the most perfect choices when it comes to gifting something to your dear ones.