The Motivation of The Chinese Tourists Buying Luxury Goods in Europe
Xie, Wan (2014)
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According to statistics reported by World Luxury Association (WLA), during the Spring Festival of seven days for the Chinese people, they have spent 67 billion dollars outside of China on buying luxury goods. It is an 18.8% decrease compared to last year. Still, the Chinese is still the biggest group consuming luxury goods overseas. Among all destinations, Europe has a 52% share of the gross amount. Thus, the topic of the Chinese tourists buying luxury goods in Europe is an important subject for both the Chinese market and the European market. The research topic is to help the Chinese government and marketers understand the reasons why the Chinese people prefer to buy luxury goods in Europe, so as that they can work out applicable policies and a marketing program. In order to reach this purpose, questionnaires are used to collect reliable data. Quantitative method is the main method for conducting the empirical study, combined with referring to books, journals, news, reports and various theses. Motivations for the Chinese to buy luxury goods and buying them in Europe have been found separately. Perfectionism, the hedonic factor and social needs are the main reasons for buying luxury products. At the same time, genuine guarantee, price difference and travel factor were motivations for the Chinese tourists buying luxury goods in Europe.