2017 CHINA MARKET OVERVIEW – LUXURY
English
In 2016, China’s luxury goods consumption fell to the lowest since 2009, which was mainly due to the slowdown in China’s economy. By 2025, it is expected that Chinese consumers will contribute 44% of global luxury market value, which is equivalent to the total sales volume of the US, UK, France, Italy and Japan in 2016.
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2017 CHINA MARKET OVERVIEW – LUXURY
Summary
Among all people searching for luxury goods, for age distribution, people aged 20-29 account largest for about 45% of the total population.The participation of luxury consumers in digital channels continues to increase, and brands will continue to increase their digital marketing-related budgets; some brands are testing and launching online channels (through branded websites or third-party platforms).
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