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Kitchen Cabinetry – Opportunity China

June 29, 2009

Analysis of:Furniture - Dubai market has large export appeal | bit.ly

An undisputed fact -despite the global economic developments – China will emerge (or still is) the fastest growing economy in the world, especially within the luxury goods sector. Retail sales in China have reached more than 6 trillion RMB and are expected to quintuple in the next 10 years to 30 trillion RMB. Since 1997, the per capita income of the Chinese population has doubled, and with it, the retail economy has slowly shifted in expenditure patterns from “basic needs” towards “personal luxury”. 200 million Chinese have meanwhile entered a new consumption society. China is currently the third largest consumer of luxury brands and is expected to surpass the United States within the next 10 years.

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