Chineese consumers looking for branded items

The thrill of that first-time purchase of a Louis Vuitton bag is long gone. Chinese consumers are no longer innocent, experiencing new products and services for the first time. Rising incomes have allowed the Chinese to become increasingly familiar with brands and made them savvier shoppers - and the world's second-largest market for luxury goods, not far behind the United States.

By 2020 the mainstream Chinese consumer, some 400 million people or 51 percent of the urban population, will have an annual disposable income of between $16,000 and $34,000, according to a McKinsey study. In 2010 this bracket accounted for only 6 percent. 
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