China's big spenders: young and not so rich

Singapore - Global luxury brands expanding in China are better off targeting the Henry's - "high earners, not rich yet" - instead of the ultra-wealthy, as a slowing economy and a government that frowns on official excesses usher in an era of less showy spending.

Henry's believe less is more. These younger spenders pride themselves on their individualism and snub the ostentatiously branded handbags and accessories loved by the "secretary" types. Fuelling their shopping habits are social media, multi-brand retail websites such as Beijing-based ShangPin.com and Italy's Yoox, eclectic boutiques, and high-end department stores like Lane Crawford and Galeries Lafayette.

Chinese customers aged 25 to 35 are Yoox's top spenders, International Markets Director Luca Martines told Reuters, adding that they are willing to mix niche labels with big brands. Labels considered niche such as Celine and 3.1 Phillip Lim are among the "hottest" sectors, according to a report last week by online luxury magazine Jing Daily, citing branding and marketing experts.