Online purchasing of luxury goods surges by 28% in China
A new survey by KPMG reveals that, despite China's economic slowdown, its consumers have increased their purchases of luxury goods by 28% YoY, as a range of e-commerce options provide attractive deals.  This has led to an increase in new online-shopping platforms, such as Mei.com planning to open its own e-commerce platform dedicated to luxury goods by next year.  Analysts predict that mobile e-commerce sales will account for over half of online retail shopping in mainland China by next year.  

China's luxury market is estimated to have stood at 115 billion yuan last year, down fractionally from the previous year due to a government crackdown on officials' lavish spending. Photo: AFP