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Luxury spending booms in mainland China reports The NPD Group
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Chinese consumers contributed almost two-thirds of global growth in luxury spending in 2020.
Despite COVID-19, Chinese consumers contributed almost two-thirds of global growth in luxury spending in 2020, which already accounted for one-third of the global total.
PORT WASHINGTON, N.Y. (PRWEB)
April 29, 2021
Chinese luxury consumer spending in the direct retail channel totaled $12.29 billion worldwide and $9.83 billion in mainland China in 2020, according to The NPD Group’s Chinese Luxury Direct Retail Tracking report.
Despite COVID-19, Chinese consumers contributed almost two-thirds of global growth in luxury spending in 2020, which already accounted for one-third of the global total. Luxury brands are now focusing even more attention on the Chinese market and these powerful consumers, especially as China’s e ....

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