Every major retailer is trying to capitalise on China’s booming e-commerce market.
A recent report by Goldman Sachs explains what kind of products are most likely to resonate with Chinese shoppers.
Fine jewelry is much more likely to resonate than designer shoes, according to lead researchers Joshua Lu, Ricky Tsang, and Timothy Wang.
This chart explains why:
Expensive footwear is easy for cheaper brands to design and replicate, meaning that Chinese customers aren’t as likely to spend their money there.
Meanwhile, fine jewelry is viewed as an authentic product made with quality materials that Chinese shoppers will shell out for.