A Large Part Of The Growth Of Australian Luxury Retail Sales Is The Credit Of The Chinese.

Tourists from Asia, especially Chinese tourists, are pushing forward.

Strong growth in luxury retail revenue.

According to the IBISWorld survey of industry market research company, the demand of Swiss watches, brand handbags and brand clothing has increased by 11% annually in five years, greatly stimulating the growth of luxury retail industry. It is expected to reach 1 billion 800 million Australian dollars in 2016-17 years.

It is expected that this growth will continue to grow at a rate of 8.2% per year, reaching 2 billion 700 million yuan in 2021-22 years.

IBISWorld, a research company, says 30% of the Luxury Retailing industry.

It comes from tourists, especially from the increasingly mature Asian market.

The depreciation of the Australian dollar is conducive to promoting inbound tourism and improving people's demand for luxury goods.

This change is in line with the increasingly mature and highly valued Asian tourism market.

The number of international tourists is expected to reach 7 million 950 thousand in the current fiscal year, up 5.7% from last year.

Chinese tourists are currently the largest group of major airports in Australia.

Over the past year, the number of tourists from China and Hongkong has surpassed 1 million 350 thousand of New Zealand tourists.

Luxury clothing and footwear account for

The largest share of the industry's revenue is 61%.

According to the Hotels.com Chinese International Travel Monitor, Australia is the preferred destination for Chinese tourists.

Melbourne and Sydney are the focus of luxury stores, but Brisbane (Brisbane) and Perth's luxury retail market has vast potential.

As more and more boutique stores and foreign online retailers emerge, competition in the luxury goods industry will become more intense.

This business opportunity has also attracted many international luxury giants to enter the Australian market.

"The traditional luxury giants like Louis Weedon, Hermes and Chanel have seized the opportunity to expand their market in the past 5 years, while some rising brands are also booming with luxury boutique stores," IBISWorld said.

This trend is mainly reflected in the rising brand and the brand of young consumers.

Traditionally, the typical consumers of luxury goods are mainly distributed among wealthy middle-aged people.

But as incomes continue to grow, young consumers are becoming more and more aware of fashion luxury goods, especially showing their celebrities lifestyle through photography, media and social networking platforms.