Research On China’s Luxury Consumption Characteristics

This paper studies and analyzes the characteristics of China’s luxury consumptionproblem, which has been concerned and discussed for a long time. Inthe beginning ofNew China, due to economic decline and cultural conservative, demand ofluxuryconsumption confronted a great depression. After reform and opening, especiallyin the twenty-first century, with China’s rapid development and constantly opening, thedemand for luxury consumption was again released and the formation of anupsurge.Affected by the unique historical reasons as well as the current complex situation in theeconomic environment, China’s luxury consumption presents inherent characteristics.According to the research of the theory of multiple disciplines, firstly, this paperanalyses the historical and cultural roots of China’sluxury consumption from the overallperspective, and points out that the luxury consumption have unique culturalcharacteristics in China, which changed to a more complex state in Chinese dualeconomic structuresubject to economic growth and the influence of external culture inthe new century. In order to analyzethese complex characteristics, we separate the twoview of rural and city, from two dimensions of culture and economy, study the differentperformance and motivation of luxury consumption in rural areas and cities.This paper analyzes and points out, in relatively conservative rural areas, luxuryconsumption is still around traditional consumer culture and showed aswastefulhumanconsumption and etiquette consumption. Compared to the past history of ruralconsumption, it can be drawn that, with the rural economic growth and consumerincome increase, rural luxury consumption shows an expansion feature, causing a heavyburden for rural consumers while resulting in a great waste. City on the other hand, withfusionof traditional culture and foreign culture, diverse phenomena emerge in luxuryconsumption, containing both conservative old consumptionand modern new spending.In general, consumers are increasingly inclined to the pursuit of quality in newconsumption, performing as luxury goods consumption. However, China’s luxuryconsumption is still in the tender development stage, with immature consumption idea,rapidly expanding consumer groups and constantly changing consumptioncharacteristics, and need to be guided to its healthy mature way. In the end of this part, synthesizing both two characteristics, the paper points out that China’s luxuryconsumption is overall moving from wasteful consumption to the pursue of quality ofluxury consumption.Luxury consumption is caused by economic growth and cultural accumulation, anddriven by basic and long-term strong economic and social power from both supply anddemand sides. It deserves rational and objective discrimination and guidance more thanmoral judgment. The final part of this paper analyzes the future of China’s luxuryconsumption according to the institutional environment and economic trends, and thenputs forward corresponding recommendations such as limiting waste, the developinglocal luxury brands and strengthening non-materialluxury consumption, in order tomake slight contribute to healthy development of China’s luxury consumption.