The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The China luxury market is expected to exhibit a CAGR of 5.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Luxury goods and services are non-essential but desirable products that are commonly related to wealth and exclusivity. They are generally of good quality, expensive, and intended to appeal to people in a high social class. These goods and services offer great value and attract a larger section of society. They consist of luxury automobiles, hospitality services, and food and beverages from high-end dining that provide comfort and elegance to the customers. Luxury products assist in raising self-esteem, confidence, and social standing and offering comfort and elegance. These goods and services largely depend on marketing and promotions in order to communicate brand values.
The China luxury market is primarily being driven by the inflating disposable income levels of the masses. Consumers are willing to spend on lavish items, such as designer clothes, shoes, cars, and the latest automobiles. In line with this, the increasing inclination of the younger population towards expensive perfumes and cosmetics to boost confidence and enhance appearance is favoring the market growth. Apart from this, the introduction of sustainable products manufactured from environmentally friendly raw materials, such as plant-based leather derived from pineapples which are further used for producing jackets, handbags, and footwear, are providing an impetus to the market growth. Additionally, the rising penetration of e-commerce facilities and the growing popularity of social media platforms across the country is positively impacting the market growth. Other factors, including growing awareness among consumers about leading luxury brands, the launch of technology-embedded products, the establishment of upscale malls, rapid urbanization, and the increasing investments by numerous luxury brands to expand their presence in the country are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the China luxury market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on category, gender and distribution channel.
Breakup by Category:
Breakup by Gender:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Category, Gender, Distribution Channel, Region|
|Region Covered||Guangdong, Jiangsu, Zhejiang, Henan, Sichuan, Shanghai|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at