Chinese Consumers Will Account for More Than 20% of The Global Luxury Market

“By 2015, China is expected to surpass Japan as the world’s number one luxury market, accounting for more than 20% of the global demand.” – McKinsey Insights China, 2012

China will account for about 20 percent, or 180 billion RMB ($27 billion), of global luxury sales in 2015. As Chinese consumers increasingly travel further afield, their tastes and knowledge of products continue to widen. China continues to play a very important role for global luxury brands.

Key one: Researched luxury brands segment in China

Overall, Chinese consumers show a strong interest for brands originating from Europe, comprising of78% of the total brand lists and automobile searches lead the segment. Cars make up an impressive 54% of total searches for luxury brands in China, followed by Beauty (18%), Fashion (17%) as well as Jewellery (6%).

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