View Full Report With TOC@ Global and China Luxury Apparel Market Report, 2012-2015 Market, Trends, Share, Size Research Report.
In 2012, the global luxury market valued EUR212 billion, representing a year-on-year increase of 10%. Chinese consumers became the world’s largest consumer group of luxury goods and they spent RMB306 billion in the world, most of which was done in Hong Kong, Macao and other countries / regions, while only 39.28% in Mainland China.
In 2012, as China’s economic growth slowed down as well as the government cut expenses on dining, cars, wine and other aspects, the Chinese mainland luxury consumption cooled down substantially, and the growth rate of the total consumption of luxury goods dropped from 30% in 2011 to 7.2% in 2012.
However, Chinese luxury consumers have changed their attitude from showing off to enjoying and rational consumption with more mature consumption concept, so Chinese luxury market will still witness steady growth in the future.