Earlier this year, China’s online luxury market’s revenue grew to over 10 billion yuan, or $1.59 billion. A report claims that the sector will continue to grow on a yearly basis, and has the potential to increase by 30% over the next few years.
Adam Roseman of ARC China explained in a newsletter that “the turnover of the nation’s online high-end brands hit an unprecedented 10.73 billion yuan last year, surging sharply by 68.8% compared wuth 2010’s sum of 6.36 billion yuan, according to findings released by the Internet analysis research company iResearch Inc.
The market will continue to increase at a speed of 30% over the next few years, which mean the turnover is likely to hit 37.24 billion yuan by 2015, said the report.
Revenues generated by the luxury goods’ direct-sales stores on the Internet were not included in the turnover.”