US media: Chinese students spend money like water, spending US$6,000 a night in nightclubs

Published: 2019-08-22    Source:
January 18th According to reports compiled by the American Overseas Chinese News Network, like many Chinese students studying abroad, Elizabeth is also a loyal fan of luxury goods. She was studying at Purdue University in Indiana, USA, but "handed" her credit cards to salespersons at luxury stores in New York and Los Angeles. Because only in this way can she buy the latest products from Cartier, Gucci and Prada as soon as possible: as soon as the new products arrive in the store, the salesperson will take a photo of her, and she will nod, and the salesperson can swipe her credit card for her.

 

Elizabeth made a rough estimate that her expenses for studying in the United States for one year would be around US$100,000. In this way, she still felt that she was just a child from a "middle-class family".

 

"Some people say that I am a rich second generation, but I don't think so. Because compared with the real rich second generation, I am still far behind." Elizabeth said that one of her friends once bought an entire season of Chanel's new products at one time, and another spent $6,000 on a nightclub in New York. "I have enough money for living expenses, and my family will give me more money for shopping, but I am indeed not a rich second generation." According to Forbes, whether they are middle class or rich second generation, Elizabeth represents the strong purchasing power of Chinese international students. According to the Association for International Education (NAFSA), in the 2011-2012 school year, the tuition and living expenses of 195,000 Chinese students in the United States reached US$22 billion. More than 60% of international students rely solely on their families to provide living expenses and full tuition.

 

Many Chinese students help their friends in China to purchase on their behalf. Judy is a second-generation official in Shanghai. She said that she had to bring two suitcases with her purchased items every time she went home when she was studying abroad. "I hate this. I have to buy all kinds of things for everyone," Judy said. "Once, I helped my cousin buy 7 Coach handbags."

 

A survey once showed that among Chinese students living in New York and Boston, 74% are asked to purchase at least every quarter, and more than 30% of international students buy luxury goods to take home every quarter and also play the role of shopping guides.

 

Many retailers have discovered this special group. In Milwaukee, Wisconsin, Chinese students have nourished many local retailers, and jewelry brand Swarovski is one of them. They all welcome Chinese students because Chinese students are "rich and love to spend money."


Author: Editor

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