A store of luxury goods retailer Hermes in Beijing. Last year, mainland Chinese consumers spent 170 billion yuan on such items domestically. Photo: Reuters

Chinese consumers – accounting for 33 per cent of all luxury goods spending globally last year – to tighten purse strings in 2019

  • Spending on luxury goods expected to increase by 10 per cent in 2019, down from 20 per cent in previous two years, says Bain & Company report
  • Millennials new drivers of growth in sector
Topic |   China economy

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A store of luxury goods retailer Hermes in Beijing. Last year, mainland Chinese consumers spent 170 billion yuan on such items domestically. Photo: Reuters
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