Renowned for an insatiable appetite for luxury, within ten years China will account for 50% of global luxury purchases. But as discretion becomes the mark of distinction, who are these luxury consumers, how are their tastes evolving and what compels them to part with their cash?

The Chinese phraseguang jie(‘window shopping’) is relatively new, along with the overall concept of shopping for leisure in China, which has grown with the country’s wealth. But the uptake of shopping in the internet era is stalling the growth of brick-and-mortar retail.

Chinese villages are being transformed by e-commerce, with traditional industries like pig farming being overtaken by new manufacturing opportunities fuelled by online shopping. E-commerce companies like Alibaba and JD.com are competing for the lion’s share of this expanding sector.

HNWIs can take their pick of the finest luxury brands, defined by having a net worth of at least $2 million. There are 13.7 million of these consumers globally, but with so much to spend, how do they choose where to splash the cash first? And as their ranks grow, how will luxury shopping change?