Sunday , October 24 2021

Buyers of 50 percent of luxury goods in the world in 2025 will be Chinese


According to estimates, Chinese buyers will have a 46 percent share in the world's luxury merchandise sales in just six years, according to the Bains study for Altagam, an Italian association of luxury producers.

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Last year, rich Chinese citizens had a share of one third in the world's total purchases of clothing, accessories and cosmetics.

According to Bain, sales of valuable goods are estimated to grow 2.0 percent to 260 billion euros this year, excluding luxury art, design and decoration.

But considering luxury goods and lighting services, the market is expected to increase by 5.0 percent to EUR 1,200 billion globally.

It is also expected to increase sales of luxury goods in China this year by 18 percent to 23 billion euros. In Europe and America, the two largest markets for expensive branded goods are expected, no changes in the current year due to their strong currencies, so sales will be maintained at level 84 billion and 80 billion euro respectively.

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