Study: Chinese to account for half of luxury sales by 2025

News

November 15, 2018 - 8:30 AM

MILAN (AP) — Chinese consumers will remain the driving force for luxury goods market, according to a new study by Bain consultancy that shows they will fuel nearly half of global high-end sales by 2025.

Chinese shoppers will account for 46 percent of global luxury sales of an estimated $412 billion in just six years, the study said. That’s up from one third of all sales of luxury apparel, accessories and cosmetics last year.

Bain partner Claudia D’Arpizio says half of those purchases will be made in China, as price differences between countries fade and brands improve the customer experience there.

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