Deloitte released the “2017 China Whitepaper on Luxury Consumption online”, hoping to answer two questions: Who are the consumers buying luxury goods in China, and what are their consumption habits?
The answers may be surprising; China is second only to the United States as the world’s largest market for luxury goods, and the average age of luxury goods consumers has dropped from 35 to 25. Even more surprising is that the primary drivers behind luxury sales are not women, but well-educate...
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