26 January 2022

Travel restrictions imposed by covid-19 have led to a big increase in Chinese consumers’ domestic purchase of luxury goods, reports Leatherbiz.

According to a new report by specialist consultancy firm Bain & Co, domestic sales of personal luxury goods increased by 48% in China in 2020 and by a further 36% in 2021.

Bain puts China’s total domestic spend on luxury goods for 2021 at almost $75 billion and says this represents “a near doubling in just two years”. It said leathergoods was the fastest growing category last year, with a growth rate of about 60%.

The new report, A Year of Contrasts for China’s Growing Personal Luxury Market, says China had a 20% share of the global luxury market in 2020, rising to 21% in 2021. “We anticipate this growth to continue, putting the country on track to become the world’s largest luxury goods market by 2025, regardless of future international travel patterns,” Bain said.

關於亞太區皮革展 ​

我們為皮革、物料及時裝業界創造面對面洽談的機會,爲客戶締造實質商機。我們雲集世界各地的商家,讓他們尋找新的合作伙伴,發掘潛在客戶或供應商,並掌握業界最新發展。   我們主辦多個專注時尚及生活潮流的商貿展覽會, 為這不斷變化的行業,提供最全面的買家及參展商服務,方便他們了解急速轉變的行業環境,並預測來季趨勢。