Hírek
Sustainability of the chinese luxury goods market – strategies for the future
DR. ZOLTÁN PEREDY, Head of the Engineering Institute, Edutus University, Hungary
e-mail: peredy.zoltan@edutus.hu
László Vigh, Full-time Professor, Head of the Department for Business Management, Edutus University, Hungary
e-mail: vigh.laszlo@edutus.hu
FANG YANBO BSc. Economist in Business Administration and Management, Department for Business Management, Edutus University, Hungary
e-mail: 1102498803@qq.com
Megjelent a 2024. decemberi ACTA PERIODICA 33. angol nyelvű különszámában (ISSN 2063-501X) az Edutus Egyetem kiadásában a 19-43. oldalon.
DOI: 10.47273/AP.2024.33.19-43
Abstract
In our contemporary age, the globalising competitive market includes many driving forces increasing focus on sustainable consumption in the luxury industry. Wealthy consumers are increasingly aware of environmental and social issues, and are therefore seeking new types of luxury goods that respect natural resources and people, while combining traditional elements such as quality, rarity and value, which stand out. The luxury goods market in China has undergone significant changes over the years, driven by consumer behavior, economic development, and global trends including digitization, e-commerce
This study aiming to reveal the different challenges and opportunities in the transforming Chinese Luxury Goods Market, which is one of the largest in its size around the globe: from political changes to sustainability issues. Finally, this paper provide reviews about some successful strategies that luxury brands have adopted to preserve their prosperity in this dynamic and competitive environment of the Chinese market.
Keywords: Chinese Luxury Goods Market, emerging trends, brand strategies, sustainability
