Chinese consumers were expected to contribute 40% sales to the global luxury goods market and hence drive 75% of this market's growth.
58% of luxury goods consumers were the youthful population. 58% of them located at tier-2, tier-3, and lower-tier cities. Mobile occupied 54% of luxury goods consumers' attention. 58% of consumers prefer collecting information online and buy luxury goods through offline channels.
China's personal luxury goods market is going to grow at a compound annual growth rate of 6%. Retail sales of luxury goods in China reached €105 billion (US$120.41 bn) in 2017, which was estimated to hit €162 billion (US$185.77 bn) by 2024, accounting for roughly 40% of the global luxury goods market, according to a joint report by BCG and Tencent.
58% of luxur...
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