mercredi 29 juillet 2015

Luxury Statut Quo in China

Lately, sale of luxury goods in China was still not encouraging. It seems that the slowdown trend of 2014 continued in the 2015. However, China remains the biggest market of luxury industry in the world. This week, Hermes reported that the sales increase was influenced by an increase in sales in Japan by 33%.

One interesting fact is most sales increase in Japanese is supported by China tourists and last month, Chinese tourists spending jumped by more than 80%.(source) Increase of Luxury Consumption An increase of luxury goods purchase in Japan and Europe has not been followed by the same situation in China mainland and Hong Kong.

 Some luxury products such as Swiss watches that were previously very dominating the market, is now declining sharply by more than 20%, specifically 21.2% (source). This situation contrasts with an increase in sales of Swiss watches worldwide. This situation also applies to the sale of goods made of leather that is very surged in Europe, but declined in China

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