Shoppers in emerging markets such as the Middle East and China are increasingly gobbling up European fashion and luxury goods in their home markets — and from a young age.
In the United Arab Emirates, teenagers spend $100 a month on clothing and accessories, more than six times the global average for their peer group, according to a recent report by Chalhoub Group for Walpole, which represents Britain’s high-end industries.
According to Chalhoub’s study “Luxury in the Middle East: An Easy Sell?” local shoppers from the UAE, Saudi Arabia, Qatar, Bahrain and Oman spend an average of $1,300 monthly on clothing and accessories, of which $700 goes to apparel and $300 to shoes. That compares with $120 and $15, respectively, in the U.K.
A separate study by KPMG, “Global Reach of China Luxury,” said the Chinese shopper has very firm ideas about provenance and the power of European heritage brands when it comes to luxury goods. Switzerland is tops for luxury watches, while France is number one for cosmetics, perfumes, clothes and bags.
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