The Global Luxury Market

In their desire for experiential luxuries over objects and their predilections for high-tech products and travel, the resident consumers of the worldwide luxury market resember each other. Still, within those parameters, luxury consumers in the seven countries surveyed exhibit attitudinal differences. As a developing economy, China has luxury consumers with significantly less money but a stronger desire for brand names. Japanese consumers have lower incomes than those in the United States and Western Europe, whom they lag behind in spending. These differences mandate that businesses adapt to these different cultures.