Thursday , June 1 2023

Buyers of 50 percent of luxury goods in the world by 2025 will be Chinese


According to estimates, Chinese buyers will have a 46-percent share in the world's luxury goods sales in just six years, according to estimates, according to Bain's study, for the Altagam, an Italian association of luxury products makers.

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Last year, wealthy Chinese citizens had a share of one-third in the world's total purchases of clothing, accessories and cosmetics.

According to Bain, it is estimated that the sale of precious goods this year will mark a growth of 2.0 percent to 260 billion euros, excluding luxury art, design and decoration.

However, when considering luxury goods and luxury services, it is expected that the market will grow by 5.0 percent to 1,200 billion euros globally.

It is also expected to increase sales of luxury goods in China this year by 18 percent to 23 billion euros. In Europe and America, the two largest markets for expensive branded goods, no changes are expected in the current year due to their strong currencies, so sales will be kept at the level of 84 billion euros and 80 billion euros, respectively.

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