Why is luxury market growing so rapidly comparing to Japan and U.S.?
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Why is luxury market growing so rapidly comparing to Japan and U.S.?

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  • Undergraduate
  • 3089

Short excerpt:

The objective of this paper is to know what is the reason Japanese and the people of the United States have stopped buying luxury products, the amount of sales made by these two countries have tremendously went down. At the moment, these luxury market industries have set their eyes on a newer and bigger target, which is China. By comparing China to Japan and the United States, we will be able to track since when it is this started happening and see if China is going to strive even more in the luxury products market. When these large luxury market industries started to move to China, this shows that First of all, it shows Chinas rapid growth of economy. Second, increasing purchasing power led to higher consumption. And third, luxury items became a symbol of wealth and social status, due

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