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

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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