I've been looking for an example of this, the idea of being careful who makes up your customer base. If they disappear, then you are sunk. It seems much of the luxury business in China is from officials who stock up on the stuff where they cannot otherwise conspicuously consume:
If your market is built on people who should not be buying from you, then things can go bad when they stop. Here is an example of the crackdown -
Good call.
Feel free to forward this by email to three of your friends.
The slowdown of China's economic growth is being cited as the cause of the luxury market deceleration. Some experts said that well-known international brands had actually been hit harder by weak economic conditions and the government's crackdown on extravagance.
"The big names' business declined in China seriously in the first half of 2013, for macroeconomic and political reasons," said Zhou Ting, director of the Fortune Character Research Center.
If your market is built on people who should not be buying from you, then things can go bad when they stop. Here is an example of the crackdown -
In yet another case of internet vigilantism uncovering government corruption, the mayor of Lanzhou has come under investigation by two university students. The students, from Guangzhou's Sun Yat-sen university, noticed that the mayor, Yuan Zhanting, seemed to be wearing a different expensive watch each time he appeared in a publicity photo.In the meantime, Europe blinked regarding solar panels...
"We found an amicable solution in the EU-China solar panels case that will lead to a new market equilibrium at sustainable prices," EU Trade Commissioner Karel De Gucht said in a statement quoted by local media reports.
"I am satisfied with the offer of a price undertaking submitted by China's solar panel exporters," he said, referring to an agreement for a minimum price for China's imports.
Good call.
Feel free to forward this by email to three of your friends.
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