Due to the numerous problems with domestic tourism, in recent years, the short-term overseas travels particularly the shopping trips to Japan and Korea have gained wide popularity.
ANOUND's chief researcher, Chan Kung is of the view that this is not merely about the quality of products made in China but it also relates to the changes brought by the currency depreciation.
As a result of the currency depreciation, the Japanese and Korean commodities are relatively cheap and have gained popularity again.
The Chinese manufacturers have failed to seize the opportunity brought by the increased spending in China.
From the perspective of a country, consumption has something to do with the income, the quality of the products and the branding strategy, the spending by the society is not merely a bunch of numbers but rather this is a market 'revolution’ throughout the society that will be propping up the industries and it will be involving the monetary policies and the policy orientation for consumption as well as the structural adjustment of the economy.