China’s luxury market is projected to grow in the mid-single digits in 2024, following a 12 per cent year-on-year rise in 2023, as per Bain & Company’s report.
The 2023 increase, a rebound from pandemic lows, started strong but slowed in the latter half due to reduced consumer confidence.
All luxury categories saw growth, with fashion and jewellery leading.China’s luxury market is projected to grow in the mid-single digits in 2024, following a 12 per cent year-on-year rise in 2023, as per Bain & Company’s report.
The 2023 increase, a rebound from pandemic lows, started strong but slowed in the latter half due to reduced consumer confidence.
All luxury categories saw growth, with fashion and jewellery leading.
