A. Guttmann
Research Lead covering media
Luxury marketing in China - statistics & facts
China鈥檚 luxury market remains the second largest in the world and it has been growing rapidly. Its rising ultra-rich and middle classes have substantial purchasing power and a growing appetite for high-end products. The country was estimated to account for about about a fifth of the global luxury market and was expected to contribute nearly half of the luxury spending growth over the next five years. Various luxury brands understand craftmanship and long-running legacy are not enough to conquer the Chinese market. They need smart marketing strategies to create meaningful interactions with the affluent shoppers in China.
