By Herman Lai, posted Aug 31, 2010 at 12:26 PM, 543 views,

Luxury Consumption In China Has Become The Trend

School Started! A new group of undergraduates from different areas all over China. Basically, sufficient stationeries and books should be well prepared before step into class. But, this year is completely different because those stuffs are no longer the biggest concern. Parents in China wouldn’t hesitate to spend millions of Chinese Yuan to buy their children, iPhone, DSLR Camera, iPad, MP4, netbook and some other electronics devices. The reason of parents are doing that is just because they want to avoid their children despised by the other kids. Is this necessary?

In many colleges and universities in Hunan, the majority of students come with their parents. A student from Nanjing, his Nike backpack carried a lot of brand new stuffs, such as an around $7000 RMB DSLR camera, an iPhone 4 and a netbook. The student parent said, he thinks is acceptable to spend that much money on their children.

A Year 1 student in Hunan University, she acquired a netbook, mobile phone, clothes, handbag, plus around $2100 RMB of Cosmetics and skin care products, added up to a sum of $13,100 RMB, this amount is just about 2 months wages of her parents. Moreover, in some Chinese forum, some netizens tend to thoroughly showed off his repository that bought by their parents. Things like, PSP, Crystal Mah-jong, Apple laptops, formal dress, etc.

Chinese Netizens criticized that, the parents told their children to stint of money, but in fact they were buying expensive equipments for their kids to avoid despisal. This behavior would have impact on their kids’ concept of consumption and values, it will raise their mental comparisons to show off.

Well guys, should the parents spend millions Yuan on their children then?

Source: HKreporter