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The performance of luxury goods picks up Overall, luxury goods in China outperformed the previous year indemonstrating the fastest growth momentum in retail current value terms of the whole review period.
The recovery trend reflected a move from outbound to inbound consumption in the context of luxury goods. The luxury goods market eyes the rising number of middle-class millennials The Chinese luxury goods market is embracing ever-younger consumer groups, as the domestic wealthy consumer group has become younger, supported by the burgeoning millennial generation due to the high birth rate between and in China.
In the face of the rising number of middle-class consumers in China, luxury goods producers have endeavoured to enrich their product lines, in particular eyeing younger consumers, many of whom know what they want, but have comparatively limited purchasing power.
Uneven performance between categories in luxury goods Although China began to rally in terms of sales of luxury goods, the performance of different categories in the Chinese market varied considerably in the review period. Internet retailing is developing further and attracting more players Even though store-based retailing maintained the largest share in luxury goods ininternet retailing saw rapid growth during the review period, thanks to changing consumer purchasing behaviour and the constant improvement of online platforms.
In order to explore and conquer markets in peripheral cities, more manufacturers managed to operate self-owned websites or online flagship stores via e-commerce channels such as JD. Continued value growth over the forecast period Luxury goods is expected to see continuous growth over the forecast period, driven by the rising number of middle- and upper-middle-class consumers in China, the trading up trend, as well as the pursuit of fashionable and fun lifestyles.
Increasing purchasing power will contribute to stronger sales of luxury cars and luxury hotels. Files are delivered directly into your account within a few minutes of purchase.
Samples Overview Why buy this report? Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats.
Inform your marketing, brand, strategy and market development, sales and supply functions. Overview Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in China with research from Euromonitor's team of in-country analysts. Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Goods industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
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Analysis of key supply-side and demand trends Detailed segmentation of international and local products Historic volumes and values, company and brand market shares Five year forecasts of market trends and market growth Robust and transparent market research methodology, conducted in-country Our market research reports answer questions such as: What is the market size of Luxury Goods in China?
What are the major brands in China? How dynamic is the growth of Luxury Goods internet sales? What is driving growth? Gain competitive intelligence about market leaders Track key industry trends, opportunities and threats Inform your marketing, brand, strategy and market development, sales and supply function Want to find out more about this report?Cholesterol is a fatty substance found in your blood.
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