Home / Knowledge / News / Apparel/Garments / Overseas spending by PRC consumers reached $200 bn in 2017

Overseas spending by PRC consumers reached $200 bn in 2017

05
Aug '18
Overseas spending by PRC consumers reached $200 bn in 2017
Chinese consumers are showing a growing preference for global brands as overseas spending by them reached $200 billion in 2017, says a study on cross-border business by a leading marketing and consulting firm. During trips last year, outbound Chinese travellers contributed $115.29 billion through purchases, a figure expected to rise by 4.3 per cent in 2018.

Overseas Chinese residents accounted for $84.25 billion of the total spend in 2017, with this number set to grow by 5.12 per cent in 2018.

The study, jointly undertaken by consulting firm Westwin, formerly known as MSN China, along with a leading independent third-party research firm, gives an insight into three categories of Chinese consumers, highlighting the changing nature of the Chinese society, economy and ever-expanding cross-border trade, according to a company press release.

China's Alipay is the leading mobile payment platform for both online domestic shoppers (91%) and international travellers (69%). The top four most popular product categories are cosmetics, apparel & footwear, electronic appliances and food.

Chinese cross-border shoppers rely heavily on social media platforms to guide their purchasing decisions, with over 60 per cent of online shoppers using WeChat and Weibo to search for information and view advertisement, the study found.

While Tmall Global is the prime site for Chinese consumers for cosmetics (53%), apparel & footwear and food, JD Worldwide is the most popular place for electronic appliances.

The report also found that China's cross-border e-commerce volume reached $63.52 billion in 2017. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2020

Procure garments, textiles from domestic firms: Ghana prez

Ghanaian President Nana Addo Dankwa Akufo-Addo recently directed all...

Pic: Shutterstock

Apparel/Garments | On 5th Aug 2020

New COVID-19 wave to threaten Vietnamese garment sector

A fresh wave of COVID-19 may worsen the situation of Vietnam's...

Pic: Shutterstock

Fashion | On 5th Aug 2020

Ralph Lauren Q1 FY20: revenues $487 mn; net loss $128 mn

Ralph Lauren Corporation, a leading designer of of premium lifestyle...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Textile industry, Head honchos

Textile industry
Head honchos

It is a well-calibrated budget

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Puneet Jain & Yatin Jain,

Puneet Jain & Yatin Jain

Odhni is an indutva or ethnicwear brand started in 1999 by the Jain...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search