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1. Sample Essay on Why Many Chinese People Buy Luxuries
Introduction
Even though luxury goods market in China consists of various luxurious products
that found globally, research studies reveal that the country has the largest
number of luxurious goods clients (Yeoman, 2011). Chinese luxury purchases
annually have been estimated at $ 8.6 billion according to Yeoman and it accounts
for more than 27 percent of the global total consumption.
Statistics also indicate that the purchasing power of luxurious products amongst
the Chinese population has been increasing tremendously. Chinese girls are
known to purchase a wide range of designer bags including leading luxurious
brands such as Gucci, Louise Vuitton, Hermes, Tiffany and Dior. Chinese boys
conversely are seen driving expensive car models including Audi, Benz, BMW,
Land Rover and Lexus.
Chinese clients are however known as the most reliable consumers of luxurious
and statistics indicate that first and third world countries are often the suppliers
of luxurious products purchased by Chinese clients (James, 2012).
Why Chinese People Buy Luxuries
There is no doubt that luxury consumer market came to exist just a few years ago
but Chinese clients are known to dominate the largest market share, a fact that is
also increasing by the day. Studies also reveal an interesting scenario in relevance
to product consumption amongst Chinese clients. This has also been proven quite
incomparable to any other luxury group consumers including the US (James,
2012).
Even though there are perceptions that triggered different arguments in relation
to Chinese purchasing pattern of luxury products, it is obvious that there are a
number of crucial factors that play a crucial role in contributing to the pattern
amongst the group of consumers (Yeoman, 2011). Vanity is one of the factors
contributing to the high number of Chinese purchasing luxury goods.
While studies reveal that many wealthy individuals especially amongst American
populace love to maintain their status quo in an unnoticeable way, Chinese

2. people purchase expensive products including clothes, cars, handbags and shoes
to reveal their status quo (Giroir, 2011).
Even though Chinese people may not necessarily be wealthy as they portray, they
often work hard to purchase quality and designer brands to convince colleagues
at school and at work that they are wealthy. Their living and working
environments where their colleagues drive expensive cars and wear expensive
clothing influences their desire to like the same and influence them.
Studies also reveal that the recognition amongst the Chinese people is highly
attached to the product brand that one is a position of purchasing. While it may
not be obvious that some individuals in the populace may not need designer and
luxury products, the need to satisfy a person’s vanity and jealousy often makes
the person to purchase the products (Giroir, 2011).
Additionally, the need to purchase high quality products is a factor that
contributes a great deal to the increasing trend of luxury product purchases
amongst the Chinese. According to Yeoman and McMahon-Beattie (2011), a
significant number of the same individuals across all generations and social status
report that own one luxury product compared to low quality and cheap products.
From the above trend, it is clear that many people are driven by quality and not
lower cost. It is also clear that quality products are relatively expensive because
they are made of rare and precious metal. According to Carcano et al (2011),
companies that specialize in luxury products production are concerned on how to
promote exquisite workmanship to attract a continuous stream of clients to make
huge sales.
This also indicates that many Chinese consumers are attracted to expensive
luxury dealers because they are more concerned on quality as well as service
intended to maintain reliable steam of clients. High living standards and high
economic standards have also led to a growing trend of luxurious products
purchases amongst Chinese clients.
According to Jos (2003), development and growth of Chinese economy has been
growing rapidly. It has also been enhanced economic status of the many
individuals who have also continued to earn a lot of money. A research study that
was carried out in 2009 by China Merchants Bank and Consultancy Bain &
Company indicated that more than 320,000 wealthy Chinese controlled an

3. average of 10million Yuan, and it represents a collective wealth average of 8.8
trillion Yuan, an equivalent of 29 percent of Chinese national GDP, that is also
estimated at 30 trillion Yuan ( Giroir, 2011).
The amount additionally portrays a fact that many Chinese people have the
capacity to purchase a wide range of luxurious products, a reflection of their
social class and status. According to Yann (2011), luxurious products are
purchased to express purchaser’s prestige as opposed to their functionality. This
reveals the fact that many wealthy people can purchase expensive clothing,
watches, cars and shoes just to prove their social standing in the society.
Yann also explains further that personal tastes and preferences change as living
standards of individuals improve gradually. With enhanced decorations reflecting
on preferences for attractive products among high social status, wealthy people
amongst the Chinese prefer high costs to obtain attractive and luxuries products
in the market.
Additionally, social obligations are closely related to the increasing trend of
Chinese populace purchasing luxury products. According to Degen (2009), giving
gifts is quite common in china where members of the society are expected to
reciprocate giving to enhance strong group ties.
Even though individuals are not often restricted to the type of gifts they offer to
their colleagues, friends or peers, luxury goods are seen as a means of esteem
communication towards the recipient and in the end, it enhances the state of
honor on the giver. This also explains the why Chinese clients may purchase
luxurious products for their clients and peers to achieve recognition and honor
(Jos, 2003).
Conclusion
Despite various perceptions that have been put across explaining the growing
trend of purchase of luxurious products amongst Chinese clients, it is clear that
there are factors culminating from environmental, cultural and individual
influences that play a crucial role in triggering the trend. Vanity however is a
major factor contributing to the trend in which, many people purchase luxurious
products despite high costs as opposed to cheap low quality products.

4. High economic standing and living standards also influence decisions of Chinese
clients to purchase luxurious products to reflect their classes and social statuses.
Social orientation is additionally imperative as it has contributed to the growing
trend witnessed amongst Chinese clients to purchase the products as a reflection
of their esteem while gaining honor in gift giving.
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5. References
Carcano, L. et al (2011). Why Luxury Firms are Often Family Firms? Family
Identity, Symbolic Capital and Value Creation in Luxury-Related
Industries, Universia Business Review, (32): 40-52.
Degen, R. (2009). Opportunity for Luxury Brands in China, IUP Journal of Brand
Management, 6(3/4): 75-85.
Giroir, G. (2011). Hyper-Rich and Hyper-Luxury in China: The Case of the Most
Expensive Gates Communities. China-USA Business Review, 10(6): 454-466.
James, T. (2012). Living it Up: Our Love Affair with Luxury, New York: Colombia
University Press.
Jos, G. (2003). Shanghai in Transition: Changing Perspectives and Social Contours
of a Chinese Metropolis, London: Routledge Curzon.
Yann, T. (2010). Personal Aspirations and the Consumption of Luxury
Goods, International Journal of Market Research, 52(5): 653-671.
Yeoman & McMahon-Beattie (2011). The Changing Behaviors of Luxury
Consumption. Journal of Revenue & Pricing Management, 10(1): 47-50.