Even customers from Asia are shopping for their luxury goods in Europe because they can save money by doing so. This is because, in China, luxury items will cost roughly 21% more than the global average. On the other hand, those same luxury items are roughly 22% less than the global average when they are sold in Italy and France. This is a result of the duties and taxes that are applied by the Chinese government, as well as exchange rates and other costs, such as distribution costs, that drive the price of goods up.3
Consumers who are hoping to purchase designer brands can save quite a bit of money when they buy those items in Europe. Louis Vuitton products, for example, could be upwards of 50% more in China, and Armani goods could be as much as 70% more in China versus in France. Balenciaga items are roughly 25% more costly when purchased from China.3
Keep in mind, however, that currency exchange rates are always changing, and they can vary from one day to the next. Ultimately, to be sure that you are getting the best deal, you should consider using a currency converter
prior to finalising a purchase. With the right exchange rate in place, you can spend even less, whether you are shopping from Europe, Asia, or anywhere else in the world.