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As an increasing number of middle-aged people and seniors are taking their familiarity with technology from the workplace with them into retirement, many have started shopping online, including on Taobao and JD, two leading Chinese e-commerce sites.

As for tariffs, China's commitment to the WTO was to reduce the tariff to 10 percent and now it stands at 9.8 percent, Wang said, adding that the Chinese government has announced its decision to further reduce it to 7.5 percent as of Nov. 1.

As a result, these days, the Palace Museum might as well be Fang's second home.

As a result, according to major brand executives interviewed by The Journal, Amazon has been eliminating unprofitable items and asking product makers to change packaging to increase product quantities in a single package.

As a result, "Luxury brands are repositioning themselves to better reach this influential demographic group, particularly through digital media," Lannes said. Almost all the luxury brands have launched or plan to launch official websites, increase budgets for marketing on digital platforms such as Tencent's messaging app WeChat, speed up the pace of bringing out new products, and update their shop windows more frequently.