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The Chinese Market is Not Just in China

April 15, 2012
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Interesting article in the The New York Times today about how US luxury brands are starting to cater to Chinese tourists by hiring staff who can speak Mandarin and Cantonese and printing Chinese-language brochures.

“Though luxury brands started opening stores in Beijing and Shanghai years ago, Chinese shoppers still spend more on luxury products abroad than they do at home, according to the consulting firm Frost & Sullivan. Price is the major reason: Because of China’s taxes, luxury products are about a third cheaper in the United States and elsewhere,” the newspaper reported, adding that European luxury stores have been catering to Chinese tourists for years.

This is a trend that we in South Africa need to take note of as we increasingly look east for trade and incoming tourists.

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