Market Research Reports - Ken Research Chinese Luxury Goods Market to Propel Global

Chinese Luxury Goods Market to Propel Global Growth in the Coming Years - Ken Research
The Luxury Goods Market in China revolves around the revenues made via retail sales from
retailers who particularly trade in Luxury Jewellery & Watches, Bags & Accessories, Apparel &
Footwear and Cosmetics & Fragrances. Chinese consumers have been an integral factor
responsible for the progress of this market. In China, the new generation is very interested in
luxury goods since the Chinese middle class are continuing to evolve and spend accordingly.
The Chinese consumers account for a third of the total customers for this market globally and
they have managed to record a considerable rise in the sales all over the world for numerous
reasons.
The report, “Luxury Goods in China” provides all the necessary resources for top-line data and
analysis that covers the China luxury goods market. It includes many variables including market
size and segmentation data, textual and graphical analysis of market growth trends, leading
companies and macroeconomic information. Luxury Goods in China industry profile offers a
qualitative and quantitative summary as well as contains descriptions of the leading players
with proper inclusion of key financial metrics and analysis of competitive pressures in the
market.
The Chinese luxury goods market has come a long way and has managed to register a
compound annual growth rate (CAGR) of about 4.1% between 2013 and 2017. The jewellery &
watches segment has been the “most lucrative” segment of the market in the year 2017. On a
whole, the luxury goods in China have showcased the fastest growth momentum in retail
current value terms.
The Chinese luxury goods market is able to record higher profits year after year due to its ever-
younger consumer groups, supported by the proliferating millennial generation because of high
birth rate between 1985 and 1995 in China. Moreover, as the number of middle-class
consumers in China has seen an increase, the producers have endeavored to further ameliorate
their product lines, especially to cater to the younger consumers, many of whom are well aware
of what they want to purchase having a relatively limited purchasing power.
There is no doubt to the fact that China has relished success in terms of sales of luxury goods.
Categories like fine wines/champagne and spirits, luxury cars and super premium beauty and
personal care have registered a massive growth in current value terms over the years,
supported by the affirmative factors including- reduced duties on some imported luxury goods,
stable demand for wedding gifts and a stringent policy to crack down on the grey-market
daigou, or personal shoppers overseas. There is a significantly sophisticated pool of luxury
shoppers in China which is expected to support the luxury goods industry to prosper in the