Caixin Online: China luxury goods buyers losing appetite

http://economicrisis.com/caixin-online-china-luxury-goods-buyers-losing-appetite/907

Caixin Online: China luxury goods buyers losing appetite

BEIJING (Caixin Online) — Imagine a luxury goods shopper so confident and flush with cash that one day he walks into a Shanghai handbag shop, flashes 300,000 yuan ($48,077), and waltzes out with almost every bag in stock.

That’s what happened last year at a Prada PRDSY -1.02% HK:1913 +0.34% store where Benny Lu worked as a clerk. The customer “entered the shop and pointed to the shelves,” he recalls. “Then he said, ‘Except this one and that one, pack all the others.’”
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