Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

Will it re-enter the sector? Or does that come back as something else?

Since the 1990s, the global luxury goods industry – which includes cosmetics, clothes and accessories – has expanded at a rate of 6 per cent.

The development of the personal luxury goods industry in recent years can be attributed largely to the Chinese consumers. This global market, led by Europe and the Americas, accounted for 90 per cent of total revenue growth in 2019.

Analysts claim that China's younger consumers of luxury goods especially have considerable buying power, with an average expenditure of $6,000 (Yen 41,000) per person in pre-COVID times.

Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

infographic by: www.visualcapitalist.com

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