2017 CHINA MARKET OVERVIEW – LUXURY
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.
2017 CHINA MARKET OVERVIEW – LUXURY
Summary
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Several Luxury Travel Trends for 2017
0 CommentsCustomer experience is what really matters for luxury travel in 2017.
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Revitalization of China’s Luxury Market
0 CommentsAfter a few difficult years, luxury spending in China finally starts to recover, and the luxury market is gradually getting away from the influence caused by China’s anticorruption campaign and weak consumer sentiment.
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2016 China Market Overview - Luxury
Since 2012, due to Chinese government’s strengthening of anti-corruption, some luxury goods declined in consumption, especially like watches, luggage and men’s clothing. In addition, luxury consumers in China were increasingly inclined to get luxury information through the internet, like Weibo, WeChat, mobile applications, etc.