Top luxury retailers attract Chinese tourists

China is the world's second largest economy. And in terms of lifestyle, the Mainland is now one of the major consumers of luxury goods. High-end retailers are hoping to get another boost to their bottom lines as the Lunar new year comes to a close.

Beverly Hills is the land of expensive cars and movie stars. On Rodeo Drive high-end retailers market that luxury lifestyle- but for two weeks a year you'll notice a subtle shift in what's selling and who's buying it.

Danny Ung, Ha King Shang Jewelers, said, "We've seen a great number of Chinese tourists and tourists from Hong Kong as well.”

China's busiest travel season and biggest buying season. The World Luxury Association reported Chinese tourists spent a record $7.2 billion on "bling" during the 2012 Chinese New Year.

Shirley Xiang, Spokesperson of Ideation Agency, said, "A lot of people tend to get their year-end bonus around Chinese New Year if they work for a Chinese company."

And this year it's all about the snake sales as it is the year of the black snake, so there is no shortage of snake jewelry: bangles, earrings, brooches and rings-all fashioned in the form of a serpent.

High-end retailers have rolled-out the "red" carpet for Chinese shoppers with limited-edition, snake-themed items like these red faux snake-skin Nike Sneakers and this 60-thousand dollar Bulgari bracelet - And automobiles like the Ford Shelby "Super Snake" or the "Smart-Snake" by Mercedes Benz.

Danny Ung said, "People tend to buy more luxury items in Asian culture they're always into the quality of the merchandise. They prefer something that's higher quality-even though it costs a little bit more, it's something that holds value in the long run."

For many Chinese the New Year means new beginnings and some-new, quality merchandise.