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When consuming luxury products and are no lengthier swayed solely by cost. Chinese consumers now buy more than $six billion really worth of luxurious items a year, creating them the third largest segment in the globe following their counterparts in the United States and Japan. My firm estimates that luxurious consumption will grow 20 % a yr for the subsequent five many years and that the volume of luxury goods offered on the Chinese mainland will hit $12 billion a yr in the subsequent 10 years as China's rising middle course tops 250 million people. Using a highend measurement, there are an estimated 300,000 Chinese with a net worth of more than $one million who are actively purchasing luxury items. On the downside, numerous luxurious merchants will be squeezed out if they do not cater to the demands of customers. Chinese customers are notoriously fickle in their wants. If luxury retailers do not offer the item traces, buying environment and services that Chinese customers want, they will not be in a position to faucet into the Chinese market. My firm, CMR, determined to consider a appear at what motivates male luxurious item customers in the firsttier cities Shanghai, Guangzhou and Beijing. We performed oneonone interviews and surveys in these 3 metropolitan areas to monitor the trends of male customers and their attitudes and buying routines. We discovered from our interviews that a higher percentage of males felt that in order to be effective, they needed to invest in items this kind of as luxury watches and pens that would help them exude professionalism and functionality. The numbers assistance the growth boom. The Chinese watch market was valued at $three.eight billion in 2005. Exports of Swiss watches to China elevated 69 % from 2002 to 2005 and elevated a further ten.1 percent yearonyear via the first ten months of 2006. The Federation of the Swiss Watch Industry announced that in 2005, China grew to become its tenth biggest importer. Numerous of those interviewed purchased expensive watches and pens from Montblanc to "demonstrate their success" or gave them as presents to display "appreciation" to valued company companions. They bought products for cheap custom beats by dre on their own to "be different but not as well various" from their friends. In other phrases, they want to buy watches that will established them aside from others, but they still want their purchases to be recognizable. Rolex and Omega topped the most preferred view brands for their "premium" status, while Montblanc was far and absent the most coveted pen fitflops clearance cheap beats by dre solo brand by respondents over Parker and fitflop sale australia Waterman. Lesserknown brands could also possibly advantage from Chinese men's thirst for watches and pens, but they fitflops clearance australia will have to figure out precisely what consumers want and their marketing professionals will have to position their brand names correctly. If they don't, these companies will bleed cash. Spouses and girlfriends Males are not only purchasing for themselves but also for their spouses and girlfriends, in accordance to our