Chinese are among the most prolific spenders on luxury products. Photo: Getty Images
Chinese are among the most prolific spenders on luxury products. Photo: Getty Images

Explainer |
China’s luxury goods market: how big is it, and what impact has the coronavirus pandemic had?

  • China accounts for more than a third of the global luxury goods market and its share is forecast to grow as more households earn upper-middle class incomes
  • While retail spending during the pandemic has been sluggish, many Chinese have looked to luxury shopping as an alternative to experiences like holidays

Topic |   Luxury in China
Chinese are among the most prolific spenders on luxury products. Photo: Getty Images
Chinese are among the most prolific spenders on luxury products. Photo: Getty Images
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