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E-commerce continues to skyrocket in China. Penetration is forecast to double, to 22%, by 2020, totaling RMB 2.9 trillion in value. As e-commerce grows, shopper behavior is changing dramatically. Shoppers no longer consider the primary function of e-commerce to be a channel for buying generic goods at the lowest prices; instead, they’re increasingly looking for brands and quality. For online retailers, this shift has meant revising their strategies and redirecting their investments to serve savvier shoppers.
Global luxury goods sales are defying initial concerns over Eurozone turmoil and fears of a cool-down in emerging markets.
The global market for luxury products reports constant growth. Bain & Company anticipates that the international luxury goods industry will increase by total of 8 percent in 2011 to reach EUR 185 billion.
The global crisis of the luxury goods industry ended in the fourth quarter of 2009 – a year in which the sector was forced to report its first downturn in overall sales in its history.
Sales in the internationally luxury goods segment will increase by 4 percent to prospectively EUR 158 billion in 2010.
What more than 5,000 women told Bain and Vogue magazine about their buying behaviors.
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