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City’s Tourists Spend $8.64billion Overseas |
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| Release time:2013-05-22 Source:admin Reads: | |
| Shanghai residents spent an estimated 53.4 billion yuan ($8.64 billion) on products and services abroad in 2012 ranging from luxurious jewelry with jewelry cards and baggage, the Oriental Morning Post reported Thursday. The number of Shanghai travelers who spent money abroad grew 56.55 percent year-on-year in 2012 to 1.78 million, according to a report by the Shanghai Circulation Economics Research Institute. The report also identified a growing trend in consumers who buy overseas jewelry from online purchasing agents which are amounted with marvelous jewelry cards as well. Shanghai residents spent more than 5 billion yuan on overseas goods through these agents in 2012. The report aimed to explore consumers' perceptions about both international and local brands in 2012, and ranked the brands according to brand awareness, brand recognition, brand ownership rate and other criteria. Researchers calculated Shanghai travelers' total overseas expenditures by presuming that each traveler spent 30,000 yuan per trip. The report said travelers spent most of their money on the products of famous international brands for they are in superb quality, intricate technique and reputation. Take Swarovski for example. Even if it is acknowledged as high-class jewelry, but the packaging and decoration are taken into consideration, too. The reason why it is so popular throughout the word is designers pay more attention to jewelry’ both interior and exterior value. The quality is the interior value, outer packaging like jewelry cards being exterior one. The researchers compiled the report based on a survey that polled more than 8,000 respondents who were loyal customers of specific brands in 16 product categories, including cosmetics, clothing, bags, watches, electronics, cars and food. The report listed the top 10 most favored brands for each of the categories. Of the 160 brands, only 12 local brands made the lists, accounting for 7.5 percent of the total, the report showed. Compared with international brand, Wang said the lack of vigor in design and combining design with the manufacturing also led to the decline of local brands as they lost their appeal to younger consumers. |
