16 January 2019

Chinese make up 47% of global luxury market in 2013, paper says

Chinese consumers spent US$102 billion on luxury goods in 2013, accounting for 47 percent of the US$217 billion global market, which grew 11 percent year on year, China Business News reported Friday. The bulk of the purchases by Chinese shoppers — US$74 billion — were made overseas but domestic luxury sales grew 3 percent year on year to US$28 billion, the report said.

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